Until recently, businesses did not have many options when it came to buying used industrial equipment and machinery. In many cases, these businesses were at the mercy of the original equipment manufacturer (OEM), resulting in higher prices, and supply issues. However, the rising popularity of the second market is giving these businesses another option to source equipment and machinery. There are many benefits to buying used equipment here are just a few:
When you buy used equipment, you are purchasing that machinery at a fraction of the cost of new. This allows you to have a reduced investment into the equipment and allows you to allocate your funds to another area of your business.
When you buy used equipment, you can usually pick up the equipment much faster than buying new. OEMs often have supply issues resulting in back orders for the equipment you purchased. When buying second hand equipment,you can skip the back orders and access the equipment pretty quickly to add to your production line.
Buying used equipment is a sustainable choice that keeps usable equipment out of landfills and scrap yards. By buying equipment from the second market, businesses are giving a second life to that asset, and showing commitment to sustainability, which is an important factor in many companies’ corporate social responsibility statements.
Using the second market to buy used equipment can open your business up to additional selection and options when sourcing equipment and machinery. When buying in the second market, you can buy from businesses from all over the world instead of with one OEM allowing you to have more purchasing options.
By buying used equipment, you are powering the circular economy. Many sellers in the second market are resellers whose job is buying and selling used machinery and equipment and refurbishing it, making the entire industrial supply chain more sustainable.
Classified websites offer you the ability to search locally for used equipment and provide you with a method to reach out to the seller. Once you have contacted the seller, it is up to you to negotiate a price that both parties will be happy with. There is often little to no documentation, meaning this buying method can pose a bit of a risk for both the buyer and the seller.
Equipment dealers make their living by buying and then reselling used equipment. These dealers will often buy only a limited amount of equipment for their inventory. holding onto equipment for prolonged periods will begin to eat into their potential profits. When buying from a dealer, you need to be certain that you are getting a good deal as oftentimes, these dealers are buying this equipment from other sources mentioned below and marking up the price.
Another popular place to buy is at industrial auctions. Whether online or in person, auctions offer buyers a chance to find the equipment and machinery they are looking for. The biggest challenge with in-person auctions is having to travel to the auction house, whenever possible it is advisable to seek online auctions instead.
Online marketplaces are changing the way the second market operates and offers buyers a great option. Sites like eBay, Facebook Marketplace, and the Aucto Marketplace are all great options to find the used equipment. These sites offer a wide range of product categories for sale, allowing you to find exactly what you are looking for.
There is no easier way to buy used equipment. On the Aucto Marketplace, you will be able to connect with real, verified businesses (many are often global brands) that want to sell at a fair price. The entire process is transparent, allowing you to know exactly what you are buying and at what price.
The Aucto Marketplace gives you access to over 10,000 unique product categories, which means you can find the exact equipment you are looking for in a simple and easy process. Here is a few other reasons why you should buy on the Aucto Marketplace:
When buying used equipment on the Aucto Marketplace, you can rest easy knowing that you will get the equipment you paid for. All purchases made on Aucto are made in the Aucto payment gateway and are held in an escrow account until you receive the items you purchased. Our goal is to protect our buyers and ensure they have a great experience on the Aucto Marketplace.
The Aucto Marketplace lets you customize your notifications - whether its for access to exclusive sales, upcoming public auctions,platform or policy updates, you can make the decision that’s right for you. Simply subscribe to Auction Alerts to get notifications to your email or search for the exact equipment you are looking for. The next time it is available on the Aucto Marketplace, you will be notified.
The Aucto Marketplace allows you to bid from anywhere in the world on any device - whether you are in the office on your laptop or at home on your mobile phone. Our easy-to-use interface makes buying simple.
Almost every business has equipment that is sitting on the company’s books and probably taking up precious storage space in a warehouse somewhere. One of the best things you can do with that used equipment and machinery is to sell it. Here are some reasons why you should consider selling your business’s used equipment.
Selling your used equipment is a great way for your business to recover the remaining value from the equipment. When selling the equipment, you can take idle machinery and turn it into cash that can then be used in other areas of the business.
Selling your used equipment that is sitting idle in your facilities will allow you to cut holding costs. Holding costs are the costs associated with storing and maintaining equipment that is not in production. By removing this cost, you can look to dramatically cut costs in your business.
By selling your used equipment that is taking up storage space, you can reclaim that space and use it for more important uses, such as storing critical spares or storing new equipment to replace the current production line.
By selling your used equipment, you can help reach Environmental, Sustainability & Governance (ESG) goals. You are ensuring that this equipment does not end up in a landfill resulting in a better public image for your business, while ultimately building a more sustainable future.
One of the most common questions people ask when they are thinking about selling their used equipment is how much is it worth. This question is critical to answer as it will help you understand what is a good offer or selling price and when you will need to negotiate to get a better price.
When looking to understand what your equipment is worth, it is important to do your research and see what other equipment like yours is selling for. This will help you get a baseline understanding of the value of your equipment. Another step you can take is to use the Aucto Asset Valuation Tool. The tool uses a variety of credible and verified third-party sources to provide users with real-time data on the latest average value of their used equipment and machinery. Simply enter your asset’s product category and search for your brand and model to get your results.
Industrial equipment serves an important role across many industries including automotive, utilities, energy, manufacturing, and construction. The challenge is sourcing new industrial equipment can be expensive and not every business has the budget to buy new equipment. This is where the second market and used machinery & equipment factor in. The following are other businesses or individuals who buy used equipment.
Small businesses will often buy used equipment as it may be the only option if they are working with a limited budget. Buying high-quality used machinery & equipment will allow them to operate and upgrade existing equipment at only a fraction of the price of buying new equipment.
Resellers are organizations whose whole business model revolves around buying used equipment and repairing or refurbishing it, and reselling it at a higher price point than what they purchased it for.
Another common buyer of used equipment are not for profit or charity organizations. These organizations operate with a tight budget and are reliant on the second market to buy the equipment needed for their operations.
It has become easy to sell used equipment that you no longer need. There are multiple methods to sell but, one of the most effective methods for selling used industrial equipment is on the Aucto Marketplace. There are countless benefits to selling your used industrial equipment on the Aucto Marketplace including:
Selling on the Aucto Marketplace is a great way to quickly find high interested buyers to sell your used equipment to. The buyers registered on the Aucto platform can see the list of equipment you have put up for sale, making it easy for them to express interest and place a bid when the online auction begins. You can sell machinery faster this way.
When you sell used equipment on the Aucto Marketplace, you are maximizing the exposure of your equipment to qualified buyers. Aucto’s team of experienced marketers will create customized campaigns to promote your machinery and equipment to potential buyers on your behalf to ensure you maximize your recovery rate.
The Aucto Marketplace has a transparent selling process allowing our sellers to sell exactly what they want to sell, for what they want to sell it for to whomever they wish to sell to. Additionally, the Aucto Marketplace provides audit-ready data to each selling partner to meet financial and compliance requirements.
The Aucto Marketplace has a streamlined selling process for selling your used equipment. On average, equipment and machinery on the Aucto Marketplace are sold in 17 days or less with little to no actions needed from the selling partner.
Sell your used and surplus equipment and industrial machinery to qualified global buyers in just a few clicks. All you have to do is send us a list of your assets – we will take care of the rest!
Ready to sell your used equipment? Click the button below to speak with one of our asset recovery specialists.