What is one thing that almost every industrial business has in common? This shouldn’t come as a shock – every business holds used industrial equipment within their facility. From spare parts used in factory lines to installed machinery, fleet vehicles and heavy equipment, almost every type of business has some kind of used industrial equipment sitting in their storage room, warehouse, or boneyard.
What most of these businesses don’t know is that their used equipment still has a lot of value left within the asset. Instead of letting this used industrial equipment sit idle, a business can recover value from it by implementing an asset recovery strategy.
The goal of an asset recovery strategy is to maximize the value and life of all assets a business has. According to a report from the Investment Recovery Association, on average, 20% of all assets are surplus to ongoing operations. If your company is simply scrapping or throwing away your used industrial equipment and industrial machinery, you are leaving a lot of money on the table.
There are many different methods of recovering value from your used industrial equipment. Each recovery method provides a different level of recovery value and requires different levels of effort and engagement from your company. Here are some of the most common options:
Another option is to recycle your used industrial equipment for parts or alternative functions within your production. This is already a common practice for many organizations. They will keep their old equipment as spares or look to pull parts and pieces to refurbish and fix the machines that are currently in production. This allows you to save on maintenance costs and allows old equipment to continue to provide value. The challenge with this method of recovery is that once a piece of equipment has been picked apart and is no longer able to be used for parts, it ends up sitting within your facilities or is sent to the scrapyard. This method also means you will be holding onto that old piece of machinery for a long time, which can be a challenge when storage space is low and can be quite costly.
One of the most popular methods of recovery is selling your equipment. This can be one of the best ways to maximize the value of your surplus assets. Selling your equipment allows you to receive cash that can then be reinvested back into the business to purchase newer equipment or as cashflow. While there are many methods of selling, it is best to understand what works best for your equipment. Another great advantage to selling your equipment is that you can leverage outside vendors who have the expertise in this field for you.
The final method of recovery involves scraping your used equipment and recovering only the scrap value from the equipment. This method is one of the fastest methods of recovery, allowing you to quickly clear up space in your facility, However, this method allows you to recover the least amount of value from your equipment. This method of recovery should only be used if you have exhausted all other recovery methods and you are still unable to get rid of the equipment.
When considering the impact to your business and the potential benefits, it becomes clear that the best method for recovering value from your used industrial equipment is to host a sale and find buyers for the equipment. By selling the equipment, you are able to quickly recover valuable space within your facilities and earn cash that can be reinvested back into the business.
There are many different potential buyers for your used industrial equipment depending on your industry and the equipment you have. Typically, buyers fall into one of the following categories.
Believe it or not, there are entire industries built upon buying and reselling used industrial equipment and machinery. Resellers are generally extremely savvy and only look to buy specific types of equipment. After purchasing equipment from an industrial auction or sale, they will then take the equipment and refurbish it and then look to find another business who is in need of that particular equipment. When selling your equipment, it is good to include resellers whenever possible to expand the size of your market.
Other buyers of used industrial equipment can be businesses that require the same machinery you might be selling. Generic equipment like pumps or motors can be used across many different industries. As such, other companies in different industries might look to buy your equipment for their production lines. When another company is looking to buy your equipment to use in production, they are on average willing to pay more for it when compared to a reseller, so you want to always try to attract these types of buyers.
The last primary category for buyers are those from international countries. In many cases, the cost of purchasing new equipment is too much and so buyers from international countries will look to purchase your used industrial equipment. International buyers will be looking for high quality equipment that they can use in their production as it could be difficult to purchase new equipment.
When looking to sell used industrial equipment, there are different types of selling options to choose from. Depending on the used industrial machinery and equipment you have, a certain selling option might be better for you.
Private treaty sales refer to the process of selling used industrial equipment without the usage of any third-party vendor or marketplace. This is when the owner of the machinery seeks buyers directly for the items they are selling. This can be done in a variety of ways such as reaching out to known buyers in the community or sending out RFQ (Request for Quote) emails. This method of selling is generally good for specialized equipment or installed materials, where the seller might know exactly who would be interested in buying the type of material.
Brokers are third party companies who will sell the used industrial equipment on your behalf. These companies take possession of the machines you wish to sell and will handle all aspects of the selling process. Once an item is sold, you will receive a portion of the sold price, with the consigner keeping the rest as a fee for selling the assets. Common equipment types that are sold with equipment brokers include metalworking machinery, and specialized equipment from industries such as oil & gas, and food processing plants.
Another option for selling used industrial equipment is to hire an auctioneer. Auctioneers will help relocate your assets to one of their facilities. The auctioneer will then take on all the responsibility of hosting a sale on your behalf. They will attract buyers and host an in-person auction for your industrial equipment to attract bidders to submit bids in a competitive format. Once the items are sold, they will take a portion of the sale proceeds as part of their fees. Auctioneers are typically used to sell vehicles, heavy equipment, and large machinery.
If you’ve ever listed or sold anything on eBay or Facebook Marketplace, you should be familiar with how online marketplaces operate. You list the machinery you want to sell on the platform, and you wait for buyers to come across your listing to place a bid or an offer. This method of selling depends on the type of marketplace you are selling on. Typically, marketplaces are specialized based on the type of equipment bought and sold on it. Examples of this include heavy equipment marketplaces, metalworking machinery, and fleet vehicles.
When looking to sell used industrial equipment, it is recommended to use an online industrial marketplace. There are several options to host your used equipment sale. Here are some of the best marketplaces to consider:
eBay was once the most popular online marketplace and is famous for popularizing the whole online marketplace industry. This former giant allows its sellers to list a wide variety of products for its buyers, ranging from antiques and collectables to used industrial equipment. Buyers can search for equipment based on their location, equipment type, and price range. eBay has one of the largest buyer bases in the world, which means if you your equipment will be available to the right buyers. eBay also supports competitive bidding formats allowing sellers to host auctions to ensure they are getting fair market value for the equipment they are selling.
Facebook Marketplace is a platform where you can sell used industrial equipment. Users can filter their searches by location, category, and price range. Buyers can also view the seller’s profile to learn more about their history and reputation. One advantage of Facebook Marketplace is that selllers can easily communicate with buyers through the platform’s messaging system. However, the Facebook Marketplace does not provide additional features for invoicing and payment collection. This must be done via the sellers own private systems.
Craigslist is another online marketplace where businesses look to sell their used industrial equipment. The platform allows users to list their equipment by location, category, and price range. Craigslist also has a reputation system, where other sellers can rate and review each other. One advantage of Craigslist is that it’s a free platform, which means that sellers may be more likely to offer lower prices. However, when selling on craigslist there are no additional features to support your sale such as invoicing and payment collection. This platform is good for introducing buyers to your used machinery sales, but does not allow for competitive bidding and does not provide a streamlined process.
The Aucto Marketplace was specifically designed for businesses to buy and sell used industrial equipment. The platform offers a wide range of equipment categories with over 10,000 industrial categories. No matter what type of industrial equipment you have, you can be sure that there are buyers looking to purchase that equipment on the Aucto Marketplace. You can rest easy when selling on Aucto Marketplace because all buyers are qualified and go through the Aucto verification process to ensure you are protected. The system is quick and easy to use and allows you to host your own sales in only a few clicks. Unlike other platforms where you can buy additional marketing or exposure for your equipment, the Aucto Marketplace handles all aspects of the sale for you at no cost, including invoicing and payment processing
The process begins with a quick chat with one of our Asset Recovery Experts to understand your needs. Then they can start setting up a sale for you in only a few minutes.
Ready to sell your used industrial equipment? Click the button below to speak with one of our asset recovery experts.
The Aucto Marketplace is home to over 10,000 product categories. Some of the most popular used industrial equipment available on the marketplace include:
Aucto makes the buying used industrial equipment simple by directly connecting our buyers to our selling partners. The Aucto Marketplace enables our buyers to find, bid on and purchase the equipment and machinery in only a few simple clicks. When buying on the Aucto Marketplace you get to:
The Aucto Marketplace is proud to host some of the most well known companies in the world as selling partners. By buying on Aucto you get access to equipment that you cannot find anywhere else.
The Aucto Marketplace offers an exclusive invite only loyalty program to our top buyers that allows them to earn cash back on their purchases, access special private sales and access to special tools on the marketplace.
The Aucto Marketplace offers one step bidding to all our verified buyers, once you find the equipment you are interested in all you have to do is click into that auction and start bidding.