When it comes to buying and selling used industrial machines and equipment, the two major strategies are at auction or the use of an intermediary service.
These two ways of selling used machines have their differences. This article helps you to understand what are the advantages and which option is the right one for selling off your assets.
Simply put that by auction, you get buyers to buy your asset by putting a minimum value of your machine and wait for the bids of the customers. Competitive bidding brings in good market value. With comprehensive marketing, auction attracts several interested bidders and raise the final price. A buyer with the highest bid gets the asset.
Then on the flip side, when you work with an intermediary service provider for the sale of used industrial machines and equipment like Kitmondo, we serve as a strong link between you and potential buyers of your used equipment.
Remember, as an intermediary service provider, we are equipped with the marketing knowledge, selling expertise for executing marketing skills, and we are constantly moving with the trend of the market to ensure that we give your used machines the best price for their worth.
By this, it is the work of the intermediary service provider to execute all the necessary functions to get your machine to the buyer. More so, as an intermediary service provider, we go through all the necessary processes, contacts and other processes involved in selling your used equipment while you focus on other important businesses.
However, it is obvious that the next question you may be asking is “what really is the comparison or advantages of selling my used industrial equipment using either an intermediary or through auction?”
An intermediary has professional knowledge of your equipment, and so they are most likely to know how to reorganize your used equipment for the best price. More so, the price you bought your machine will definitely not be the same price in the current market. So, this serves as the need for an intermediary who has the market trends in their finger-tip.
Through intermediary service, the process of getting the buyer for your product at a reasonable amount is sure. They will be able to go through the process of reaching out to the target audience for the asset since they are likely to know many potential buyers who may be interested in your used equipment.
When an intermediary is selling used equipment on your behalf, he will establish a very strong negotiation position, especially where you may be emotional at some point while negotiating with a potential buyer.
More so, an intermediary will set the price for your used equipment with your best interest at heart, and considering what the current market is saying about your used machines.
Due to the knowledge of the intermediary, you will be provided with business advice that offers important information on market conditions, market timing, market price, the structure of the transaction, and other information that will help you.
Putting your used equipment up for auction is one way to get more than you expected. In most cases where your used equipment is still fairly new with most parts intact, there are chances that you may have buyers bidding almost close to your purchase price for the used equipment.
Selling your used equipment through auction gives you the opportunity to set what you want before prospective buyers will start flocking your equipment. With this, you can set a base price (the minimum price or the reserve price) from which buyers can’t go below.
The easiest place to buy or sell a used industrial machine in the marketplace is to partner with a reliable industrial auctioneer. With this, you can easily meet potential buyers worldwide.
When working with a reliable used equipment auctioneer where most auction sales are carried out online, there are high chances of having your equipment sold. This is because buyers who showed interest in your used machines can bid and purchase the equipment right from their homes.
While partnering with a professional auctioneering company, you as a seller is sure that irrespective of the economy, that you’ll definitely have your used equipment sold at any time it is up for sale.
Auction of used Industrial machine gives room for different buyers to bid for the product. A buyer with the highest bid purchase the machine. But in Intermediary service, the fixed price is assigned to the machine. This price is the highest offer which can be lower down after negotiation.
The type of intermediary service you choose is very important. It is advisable to choose a reputable intermediary service that has been in the business for a longer time.
Similarly, when setting your base price for used equipment in the auction market, it is best to consult with a professional auctioneer to know what is the best base price for your equipment with the current market trend.
For many years, we are into the facilitating of the buying and selling process of used industrial machines. By this, we provide both, auction and intermediary services sale, for buyers and sellers.
As an online marketplace for used industrial equipment, we have a strong online presence, which helps us to connect buyers and sellers of used industrial machinery across the world without hassles.
Do you have some used industrial machines to sale either by auction or you need an intermediary to take off the pressure from you? If yes, then contact us for the best deal on all your used industrial supplies.