As a business, you can have an accumulation of professional machinery and equipment. This creates a problem because they take up space that could have otherwise been used for other things. With commercial and storage spaces becoming really expensive in the recent past, it is unwise to keep unused machinery and equipment around longer than you have to. Selling used professional equipment helps you get back some of the money that you can use for upgrades or other expenses in your business. The online sale of professional equipment has become very popular because of the wide reach the internet provides. The following is the process you can follow if you want to sell some of your professional equipment online:
1. Be sure of the equipment you are selling
You might have an idea of something you want to sell but it always a good idea to go through everything so that you can find other valuable machinery or equipment that can bring in some money as well. This step is especially important for someone whodoesn’tunderstand what exactly can be sold because they may need to involve a professional who can help them evaluate the use of everything that they have.
2. Research on the market value of the machines
Once you have everything you want to sell in the order, you can ask the professionals what each machinery costs. They will factor in everything,and they can give you the current market value of each item. If you are doing it on your own, it is important to do extensive research to avoid pricing mistakes. Overvaluing will scare away potential customers while undervaluing is unfair to yourself. You can look at the initial value of the product and factor in depreciation, you can search in online used machinery website how much other sellers are selling their machines for, there are value guides online that one can go through,etc. The final price of the machine will be determined from the date of its manufacture to date.
3. Inspection and repair
Once you have all your items in order, it is time to get a professional to come and examine the machine. Sometimes the reason the machine was not in use was that it was faulty and inspection helps you find such faults. He or she can tell you if the machine can be repaired or not. You will need the machine’s maintenance report to get previous records and also include this one. If the machine is beyond repair, you don’t need to worry because many people can buy the machine for parts and scrap metal. Sometimes, selling the machine for parts can offer lucrative returns compared to selling it whole. It’s entirely up to you to decide. Once the machine is working again, you will need to clean it so that it looks presentable.
4. Have machines documents in order
Once everything is okay with the machine, make sure that you have all the relevant documents such as purchase documents, manuals, maintenance reports,etc. All these are important because they prove that you are the owner and have been taking good care of the machine. Buyers will trust a person more if they have all the documents about the machine on hand as opposed to someone without them. You will then need to take photographs of the machines because the buyer is not going to be physically present to see the machine. You can allow viewings to local buyers if they request them.
5. Find the right place to sell your machine
There are many websites online that one can choose from that deal with used machinery. You can decide on one that is dedicated to a certain niche. Ensure you learn more about the websites before settling on one to avoid future problems. Choose one that will protect both you asthe buyer the entire duration of the sale. Ask about commissions and shipping arrangements before committing to a website. Upload your photos and give a detailed description of the machinery.
Once you have done all that, you have to find potential buyers by advertising traditionally and through social media. In case you don’t get a response after some time, you can consider selling it to a scrap metal dealer. Selling online guarantees one a large audience especially if the machinery is in demand and if one advertises accordingly.
This is an article provided by our partners network. It might not necessarily reflect the views or opinions of our editorial team and management.
Contributed content
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news, and distribution to create an unparalleled, full digital medium and social business networks spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems
