Sell It Or Scrap It? Use This Guide to Help You Decide

Next time you’re looking to dispose of surplus, used industrial equipment, or parts, consider selling them rather than scrapping them. Selling used machinery and equipment is a great way to recoup some expenses you initially incurred. There are many ways you can dispose of your items – through brokers, online auctions, or even directly to buyers. Whichever way you decide to sell, there’s one important thing to do first determine your price. Used equipment is often difficult to price because each item is different and there are so many variables involved. By taking into account these factors, you can approximate your equipment’s fair market value.  Follow these tips for how to price used equipment for online liquidation.

Shipping and Removal 

Some liquidations have larger products than others, products that need to be prepared before the time of shipping. Rigging an item can be pricy and should always be considered when considering a price range for a product. Rigging is usually considered when an item is either too big to be shipped out normally or if it needs to be dismantled and pulled out of its original place.

Models and Features

Standard models are usually easier to sell because they have a larger pool of buyers. While some add-ons and accessories may appeal to certain buyers, it doesn’t always guarantee that such items will fetch a higher price. Of course, it really depends on you – if you want to get rid of a specialized item, you might want to price it lower, but if you’re willing to wait for the right buyer, you can sell it for a fair price.

Supply and Demand

In any free market, supply and demand affect the prices of commodities even used equipment. You’ll have to look at the market where you want to sell your equipment and see if demand is up or supply is low so you can get a higher price. However, the great thing about technology and online liquidation is that you can sell your item almost anywhere in the country or even the world. Even if demand is low or supply is high in your area, you can reach markets where your equipment can sell for a higher price.

Economic Climate

Although supply and demand relate to the economic climate, you must also look at the bigger picture when pricing your equipment. The current economic climate can greatly affect prices. If there is a recession, for example, people might be building less, pushing demand and prices down for used construction equipment. Companies will also be watching their profits closely and thus less willing to pay more for items. Many restaurants may also close down during recessions, thus flooding the market with used kitchen equipment. There are a few other factors that affect specific items. However, age and condition, model and features, supply and demand, and the economic climate are the factors that affect most, if not all, prices of all types of equipment and parts. Before you list your item to sell, make sure you consider these factors so that you not only price your equipment fairly but also sell it in a timely manner. Also, when you’re watching your bottom line, you’ll want to sell your equipment where you don’t have to pay a lot of fees. The industrial liquidation marketplace Aucto, for example, doesn’t charge sellers a fee for listing items. If you’d like to know more, visit Aucto and register for a free account.