Article Written By: Clayton Arnold
If you have spent enough time in the purchasing cycle for industrial equipment, you have probably experienced bidding on used machinery on several online marketplaces. The secondary market for industrial equipment is growing, and buying used equipment from b2b marketplaces has never been faster or easier. Prospective buyers are increasingly turning to online marketplaces for their next purchase; rather than relying on their offline network to source equipment.
B2B online marketplaces, particularly those focused on industrial equipment, operate in niche markets and can sometimes be hard to find since they don’t get as much fanfare as the consumer focused marketplaces. However, for buyers who discover these b2b marketplaces often to come to rely on them as a first stop in their search for surplus or used industrial equipment and machinery.
This post will take a look at some of the major b2b marketplaces that have a strong focus on industrial equipment, machinery and parts. A marketplace needs both buyers and sellers to create liquidity. Having had personal experience as both a power seller and frequent buyer on these marketplaces
As discussed in 4 Things To Consider When Selecting An Online Marketplace, a key indicator of an used industrial equipment marketplace’s success is its number of users. With 25 million sellers and 165 million buyers, eBay is one of the Internet’s most well-known marketplaces. With over two decades of operation, it has established itself as a go-to marketplace for almost anything, including used industrial equipment. This substantial user base gives the site an extensive reach, granting sellers access to a large international buyer pool. Many individuals and businesses turn to eBay to sell equipment, particularly used or surplus equipment.
The biggest challenge with eBay is that it is not an industrial-only marketplace. The sellers on the platform may not be experienced industrial sellers that completely understand the equipment they are selling. As a buyer, you need to make sure you do your research. Do not expect sellers to provide you with technical advice or fitment specifications.
Additionally, inspections are not the norm when it comes to buying on eBay. This often means you have nothing more than the word of the seller to go on.
Like eBay, the Amazon name is synonymous with buying and selling online. With 310 million active customers (this number includes both buyers and sellers), it is also one of the Internet’s most well-known marketplaces. First online in 1995, it was originally an online bookstore. It has since expanded to consumer goods and, more recently, industrial equipment. While Amazon has an established trust factor with items like novels and electronics, it is relatively new to selling used equipment.
As with eBay, a large customer base presents both advantages and limitations. Amazon’s primary disadvantage when buying used industrial equipment lies with its fixed price format. Eliminating the auction process means no bidding, removing much of the competitiveness. Prices tend to be higher on Amazon because they are determined by sellers and not buyers.
The second challenge with Amazon is its standards for sellers. On traditional marketplace like eBay, sellers have more control and freedom. They can customize the title, description, and most other parts of their listing. Amazon tends to be more restrictive, being very specific on how sellers present their items. For example, most used equipment does not have a UPC code. Without a UPC code, an item cannot be sold on Amazon.
With these standards, sellers are less likely to place their items on Amazon. Fewer items means less selection for buyers. As with eBay, Amazon is unfocused.
Aucto is an online auction marketplace. Like eBay, buyers are free to compete for a wide variety of industrial equipment and parts. Unlike eBay, Aucto is an industrial and commercial-only marketplace. This fact eliminates the problem of having to sort through irrelevant items and categories, such as consumer goods.
From its inception, Aucto was created only to sell industrial equipment. The site is easier to navigate for sellers since all product categories are based on industries and industrial products. Most importantly, the site offers both liquidations and major auctions hosted by industrial auctioneers.
The challenge with Aucto is the limited inventory available on the platform. Since it is relatively new, the marketplace is still working on bringing more sellers on the platform. , At this time, it means selection is rather limited.
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