Businesses that rely on the use of heavy equipment know the importance of having reliable machines on-site and ready to use at all times. The problem is that buying heavy machinery is often not a cheap task, and will require a significant investment to ensure a purchase that will provide a return on investment. Another great way to obtain quality machinery is to consider used items, as they are usually available at rock bottom prices and allow a company to purchase quality machinery that will be ready for use.
Attending an auction is exciting, as the individuals attending the event are bidding against one another to secure an equipment purchase at the best possible price. Most items will have a reserve, which is the lowest amount that the equipment will sell for, and as long as it is met the transaction will be approved. In most cases the fees charged by the auction house will be billed to the seller, allowing the purchaser to get an exceptional deal.
Timed auctions work differently than those that are held live, as a piece of equipment will be listed for sale for a set period. Individuals bid on the item, and like a traditional auction, the reserve price must be met before the transaction is approved. The time frame varies depending on the seller and the policies of the auction house, but most run for a period fo 30 days, which gives buyers adequate time to place a bid.
Some sellers don’t like the idea of utilizing an auction and choose to list their used equipment in a marketplace environment. Whether it is online or on-site, each vehicle will have a set asking price. Many sellers are willing to negotiate a lower price, as it enables them to gain access to capital and prevents the need for storing equipment that is no longer used.
Don’t let the process of updating a company’s equipment become stressful. Equify Auctions make it easy for anyone to obtain quality machinery at affordable prices. Be sure to click here to learn more and see how they simplify the process of purchasing quality construction equipment.