When it comes to selling a used piece of equipment, it can be a challenge to sell it off on the price that you want. Unlike a new machine whose price depends upon the production cost and its competitors in the market, the financial value of a second-hand device would depend upon its condition, its working ability and the area of its purchase. Seasoned brokers are the best when it comes to setting a price and selling them off without a loss to them.
There are multiple ways that the sellers adopt to sell their products to you. The methods of selling the equipment through a broker or through dealers are more common because they are simpler and hassle free. On the other hand, if you are an inexperienced person when it comes to making a sale, yet want to sell your used machinery yourself, then the process can be troublesome. Here are a few key points that you need to remember in order to decide on the method of selling your machinery.
Selling Yourself:
When you want to sell your own equipment, you would need to be persuasive, but not persistent. When advertising for your sale, make sure that you mention all the details that can lead the buyers to you without any hindrance. When an interested person shows up, don’t force your prospects to buy what you are offering and explain them in a concise manner the advantages they will be getting when they make this purchase. There are multiple people in the sales business who think it is a good idea to mention the competition. It is always better not to divert your listener’s attention away from the product that you are trying to sell. Focus on the structure present in front of you and make sure that their attention doesn’t wander off elsewhere.
However, this process will be time-consuming and would require a lot of efforts from the person willing to sell the equipment on his own.
The Brokers:
It is always best to use the services of sales agents and brokers with the skill and resources to sell your used farm machinery, trucks, cars or other heavy equipment. The main benefit that you will get from hiring a broker to assist you in your sale is that these people have contacts that can help them deliver results faster than you. Putting equipment, such as tractors and dump trucks for sale have a small market of buyers, a semi-truck that was personally owned by you does not bring in much crowd either. The broker knows which newspaper ad would be suitable, where to advertise to communicate to the people who would be interested in such machinery. He would also ultimately know how to deal with the buyers pouring in to purchase the advertised product.
The downside is that you will have to adjust to their commission rates, as they vary greatly depending on the person you hired. The costs for advertisement may be covered for you by the broker and will be included in his fees, or instead, you would end up paying for the ads separately like you would have if you were doing it
Auctions:
Be it a reserved auction or an open bidding war, the price is always an unpredictable factor for the seller as well as the buyer. However, an auction is preferred if you are selling multiple things at the same time instead of selling them each individually. Yet, the audience number determines how much your products will go for. If the people bidding are in a large number, you will get a price over the one that was expected due to the competitiveness.
On the contrary, the auctions can make you lose money as the people involved in it can be making lower bids than your asked price. Furthermore, there may be complications in understanding for the buyers what they must expect in these used machinery which could range anything from a second-hand car to a farming tractor.
All of these things depend on the matter of preference that you have. If you are willing to put your own time and effort for it, then surely selling them yourself is the best way to go. If you have money to spend on various resources then you can hire to do the selling and dealing part for you. And auctions are more like a gamble where you do not know what deal you are going to get.
