Article Written By: Clayton Arnold
The heavy equipment industry is a big one. According to Grand View Research, it was estimated at $124.7 billion in 2019. By 2027, it’s expected to grow by another 4.3%.
Many factors are driving this trend, including a generally increased demand for infrastructure. One of the significant drivers happens to be international markets. Governments around the globe are fueling the need for heavy equipment as they seek to upgrade public infrastructure. Emerging economies like India, for example, are drastically increasing infrastructure as well as commercial and residential construction.
With this, the demand for used machinery is growing. Heavy equipment often comes with a lifespan of seven to 10 years, if not longer, and purchasing new can be cost-prohibitive for some construction companies. Buying used means companies have access to the tools they need—without paying hefty rental fees.
Like so many other industries turning toward online sales, the heavy equipment industry is moving in this direction. For sellers, it means a broader base of prospective buyers, and for buyers, it means lots of options to choose from that aren’t necessarily restricted to the buyer’s immediate area.
With that in mind, if you are looking to sell used heavy equipment, then you’ll want to maximize your return. Here are a few tips to help you do that!
1. Research Your Equipment’s Value
Before putting your equipment up for sale, take some time to research its potential price range thoroughly. Search industry trends to get an idea of its worth and spend plenty of time looking up sale prices of similar pieces of machinery. Focus not only on the make and model but also details like operating hours and condition. A machine in good condition with fewer operating hours will sell for more than the same machine in fair condition with more operating hours.
2. Clean and Stage Your Equipment
Cleaner equipment looks newer and in better condition, which helps you make a better impression when a potential buyer spots your listing. It’s also important to remove mud and grime so that buyers can see all the details. If a potential buyer thinks there may be some damage hidden beneath a dirt layer, they’ll be less likely to make a bid.
Keep in mind that modern buyers are savvy, too. Nobody wants to make a purchase based on only a couple of photographs. When selling online, people may not be able to view the equipment in person before bidding—but you can offer the next best thing by making sure to photograph from all angles so that buyers can thoroughly assess the equipment before bidding.
3. Ensure Proper Documentation is Available
Good documentation is key to making a sale. If necessary, you should be able to provide proof that you are legally able to sell a particular piece of equipment, and if any warranties are still applicable, provide proof of these, too.
Another big part of your documentation should be the equipment’s maintenance records—and these should be thorough. Include the maintenance history, which should feature listings of regular service and maintenance, as well as the history of major repairs. It’s also wise to note the number of operating hours on the machine, too.
4. Be Honest and Transparent
When selling online, it’s crucial to build trust with potential buyers. The best way to do this is through complete transparency. This means making buyers aware of any potential issues with the machinery. For example, if you know there is an issue with the hydraulic system, then list it. Ensure cosmetic damage, too, and, if possible, show photos of the damage so that buyers are aware before making the purchase.
5. Attracting Buyers
Attracting qualified buyers for your equipment can be a challenge, but there are ways to do it. Remember that in this case, your objective is quality over quantity. Your listing could reach thousands of people, but if they’re not the type of people interested in this type of purchase, you’re less likely to make a good sale.
It all starts with choosing a site designed to sell heavy equipment, preferably one like Aucto, which draws local and international buyers. This helps maximize your reach among potentially interested buyers.
From there, you can also invest in marketing campaigns that will help maximize your reach. Consider pay-per-click marketing, print advertising, email advertising, and other methods to help you get the word out about your listing.
6. Choose the Right Sale Type
There are several different sale types that you can choose from, and the choice depends on what it is that you are selling. In general, you’ll have options including private treaty sales, broker sales, and online auctions. If you’re selling something smaller or less expensive, a private treaty sale may be the way to go. If you expect a hard sale, or if you want to negotiate for the highest price possible, then consider a broker who can use their industry connections and knowledge to help you find buyers and get the best price possible. Auctions are great for in-demand items that are likely to feature multiple bidders competing to make the purchase.
7. Choose the Right Marketplace
Perhaps the most critical part of making the sale? Choosing the right marketplace. Not all heavy equipment marketplaces are equal. To maximize your reach, you need a marketplace with access to buyers from all around the world.
Other things to be aware of include seller fees. Some marketplaces charge quite a lot for you to list, but on a site like Aucto, there is no fee to sell. When you choose Aucto, you get to control all aspects of the sale, and you get a dedicated marketing campaign, too. The selling process is completely transparent, and our experts can provide all the support you need.
If you’re ready to sell heavy equipment, let Aucto help. We’re an online industrial marketplace featuring buyers and sellers from around the globe. Our online tools give you a way to sell everything from heavy equipment to smaller tools, spare parts, and more. Best of all it does not cost you anything to sell on Aucto. It is completely free we do not charge any commission, brokerage, or listing fees. To get started and create your free sellers account click here, or contact us by calling our seller support team at: 1-844-326-7339 or sending an email to firstname.lastname@example.org.
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