Successfully Selling Used Metalworking Equipment in Illinois

Article Written By: Clayton Arnold

Correctly disposing of the equipment you’ve purchased but have either outgrown or no longer use can help your bottom line; selling used metalworking equipment in Illinois is a surprisingly streamlined process — and with plenty of demand, most companies find that transactions are completed swiftly and are hassle-free. When you sell off the metalworking equipment you no longer needs, you are turning pieces that are taking up much-needed space and that no longer serve your needs into revenues; when you are done, you end up with more storage space and a steady stream of revenues that can be used to purchase new pieces you actually do need.

Table Of Contents:

  • Manufacturing In Illinois
  • What Is Manufactured in Illinois
  • Business Incentives and Benefits in Illinois
  • Selling Used Metalworking Equipment in Illinois
  • How to Get Started Selling Used Equipment
  • Contact Aucto

Correctly disposing of the equipment you’ve purchased but have either outgrown or no longer use can help your bottom line; selling used metalworking equipment in Illinois is a surprisingly streamlined process — and with plenty of demand, most companies find that transactions are completed swiftly and are hassle-free. When you sell off the metalworking equipment you no longer needs, you are turning pieces that are taking up much-needed space and that no longer serve your needs into revenues; when you are done, you end up with more storage space and a steady stream of revenues that can be used to purchase new pieces you actually do need.

Illinois has both a robust manufacturing sector and plenty of construction activity, the demand for used equipment continues to be steady; since organizations are in constant need of equipment and materials, there is always a market for secondhand equipment. A look at some recent manufacturing and building statistics for the state reveals just how large these markets are, and how enduring they are expected to be.

Manufacturing in Illinois

Manufacturing makes up a little over 12 percent of the Gross State Product for Illinois; it also accounts for about 10 percent of all jobs in the state, according to the National Association of Manufacturers. The majority of goods manufactured in the state are shipped elsewhere — 93% of the items exported from Illinois are manufactured there. Employment in the manufacturing sector in Illinois has seen steady and ongoing growth of about 2 percent per month over the last year, according to information from the Bureau of Labor and Statistics. 

What is Manufactured in Illinois?

Manufacturing, in general, makes up a significant portion of both the jobs and the revenues generated in the state, but what is being produced?  According to the State of the Economy Report for Illinois, equipment for construction, farming, and assembly top the list of items produced in the state. These items require heavy-duty metalworking equipment to produce and account for much of the state’s exports. Since Illinois experiences cold weather, they are not ideally situated for year-round farming, but agriculture equipment produced here ships around the nation and even around the globe. The state is also known for hog production and meat farming; specialty equipment used to house, raise and harvest animals is also produced here.

Some noteworthy and instantly recognizable products are manufactured in Illinois; according to the Huffington Post, Kraft Macaroni and Cheese, Solo cups, and Quaker Oats are all produced, packaged, and shipped from manufacturing plants in the state. With such a wide range of production, used metalworking equipment is constantly in demand. The state is also home to several small business manufacturers; those who are large enough to need production equipment, but small enough to benefit from the savings uncovered by purchasing used items.

 

According to the National Manufacturer’s Association, about 22 percent of the exports of manufactured goods in the state are done by small businesses — or those with under 100 employees. Businesses of this size are most likely to benefit from buying good quality metalworking equipment that still has plenty of useful life. Small to midsized businesses also need specialty packaging, metalworking, construction, and agricultural equipment. Pieces that are the sole purpose or designed to work with specific materials or perform specific tasks are always in demand in Illinois. Since purchasing used metalworking equipment in Illinois allows a brand to save money (when compared to the cost of purchasing new equipment), many organizations turn to this process to improve their bottom lines and increase production and revenues.

Business Incentives and Benefits in Illinois

Since the state wishes to attract manufacturing and production businesses for both jobs and tax revenue, they offer a variety of programs designed to draw organizations to the area.  The greatest and most appealing of these is the annual corporate tax break program or the Economic Development for a Growing Economy (EDGE) program. EDGE is designed to attract small businesses with fewer than 100 employees by offering significant tax credits for up to 10 years.  An enhanced and expanded Enterprise Zone program allows manufacturers and businesses to purchase items for production tax-free and provides tax exemptions and advantages for those operating within the state. New businesses and startups are supported by an innovative Angel Investor program in the state, while the High Impact Business (HIB) program attracts large-scale employers with over 500 employees to the state via a robust tax incentive plan. Altogether, the state has an appealing and expansive lineup of offerings designed to tempt employers, manufacturers, and organizations of all types to open a facility and begin hiring in Illinois. This commitment to business also creates an ideal environment for those selling supplies and equipment, since all of those new and relocating brands will need to establish facilities within the state.

Selling Used Metalworking Equipment in Illinois

While any location with manufacturing businesses serves as a market for used metalworking equipment, Illinois is uniquely positioned for sellers looking to move unwanted and retired equipment along to a fresh buyer. The robust manufacturing economy combined with significant incentives for opening, relocating, and expanding facilities into the state adds up to a dynamic and constantly growing market for both new and used equipment. In many cases, buyers are swift to purchase used metalworking equipment that is in good condition, simply because of the significant savings it creates and the highly competitive secondary market. Wait too long to make a purchase and that used piece will no longer be available for sale. The need for swift and decisive action on a used purchase makes the selling process run smoothly and ensures that items listed for sale move quickly and painlessly to new owners.

 

Hot demand means that pieces listed for sale move quickly. For sellers, getting older or retired equipment out of storage or off the production floor clears up space for new items. This can lead to a boost in efficiency and productivity. The revenues generated by selling these pieces also help a brand recoup some of the initial purchase cost and lower the overall cost per hour of each piece. This improves the bottom line and even generates additional revenue that can be poured back into the business; the money can be used to buy new equipment, materials or consumables needed to create more products for sale.

How to Get Started Selling Used Equipment

Determine which pieces are ideal for sale. Ideal candidates are those that you are no longer using or pieces you wish to upgrade and replace with newer models. Ideally, these items will be in good working order and ready to go to a new owner. Selling used metalworking equipment is different from selling a car or household item. Since these are highly specialized items, listing them in the general classifieds or marketing them on your own won’t help. You’ll need to find a pool of buyers specifically looking to save on the types of equipment you have.

Thankfully, Illinois is a seller’s state in many ways, since so many organizations are looking to expand or create facilities; this means you simply need to find the right location to list your items where these motivated prospects will see it. A dedicated auction and sales site that received many visits each day is the ideal place to start; people coming here are already in the mood to buy and may even have an idea of the specific items they want. A digital platform like Aucto takes the guesswork out of listing your pieces for sale and removes some of the challenges faced by a lone seller.

When you list your used metalworking equipment for sale online with a platform that has a built-in and focused audience, you bypass most of the problems individual sellers face. You won’t have to worry about placing ads, hoping the right buyer stumbles upon them and that they trust you to complete a sale of this size. Even if you are selling for the first time, when you choose a known and trusted platform like Aucto, buyers can proceed with confidence, knowing that the sale is legitimate and that they will get the items they have purchased.

Once you identify your equipment, you’ll open an account and list your items for sale.  You’ll need to include the right details to attract a buyer — from the manufacturer to the specific piece’s name and model number. Stating with the piece does as its primary function is also essential. Some brands won’t know the actual model number of the piece they want, but they will know they want a press or cutter of a specific size and for a specific purpose. Considering both the new price for the equipment and the condition your piece is in can help you determine a price; it is also useful to look back over time to see what other used pieces are sold for. If you have multiple items of the same type, you can save time by copying the details and then listing specifics (number of hours in service, condition, etc) for each.

Start Selling Today

With a robust set of selling tools, an industry-leading name and reputation, and the expertise needed to properly market your items to a built-in group of targeted and motivated buyers, Aucto is here to help. Our sellers benefit from our expertise and stellar reputation, resulting in swift sales and revenues.

Have a question about buying used industrial equipment or selling used industrial equipment online? Give Aucto a call at 1 (844) 326-7339 or email at sellers@aucto.com, and our team of experienced online auctioneers and customer support team will be more than happy to answer them.

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About the Author

Clayton Arnold

Clayton Arnold is the Marketing Manager at Aucto. Clayton has 10 years of experience working in traditional and digital marketing campaigns. A Mohawk College graduate, Clayton believes in leveraging the latest technology & analytics to foster long-term relationships with clients.