Selling equipment via auction is a smart way to get a good price for your items quickly. Here are some of the benefits.
It Happens Quickly
If you’ve been wondering about the quickest way to move your equipment, whether it is residential, agricultural, or commercial, an auction is the way to do it. The expected time-frame from enlisting your equipment to getting your money is about eight weeks.
High Success Rates
When looking at the statistics in regards to the successful sales done through industrial auctions, they have no problem selling at least 75 – 80% of the items that come under the hammer. Agents simply can’t boast with these numbers within such a small time.
It’s Legal And Binding
There is no turning back when the hammer falls. Instead, the deal is considered done, and whoever made the highest bid has officially agreed to buy the equipment. Now, if you compare this to the fact that one out of three deals with an agent falls through at last minute, using an auction is a much safer bet.
We take marketing very seriously, which is why we utilize all possible channels to promote equipment coming on auction. In fact, we have developed a targeted database that holds all local, regional, and national buyers. We are also very proactive with this database in terms keeping buyers up to date.
The ultimate goal of an auction is to get individuals to compete. And the more they compete with each other for a single piece of equipment, the more you stand you make. This situation opens up great financial possibilities, and if a buyer is incredibly keen on a particular piece of equipment, they can put in a pre-auction offer. If it happens that the offer is more than the auction house expects to make during the auction, we might advise you to take the offer as per standard auction rules. If this happens, contracts need to be signed before the auction gets to take place.
Significant Pricing Opportunity
For the most part, a piece of equipment will reach a higher price than the guideline amount that’s initially set. It’s also interesting to note that the final price typically equals the offer you would’ve received from an estate agent. Through an auction, you’ll walk away knowing you got the best possible price on that specific day, given that the executors of the estate are hell-bent on fetching the best price.
An Established Price
The money you’ll eventually get after an estate agent handled your equipment sale will probably not line up with the amount you settled on. This is because all those extra costs come into play, such as the commission of the agent. With an auction, you don’t have to worry about the buyer complaining at the last minute for a better price, or that you’ll be getting less than the set price the equipment was auctioned off for.
A Workable Timeframe
Not everyone has the time to call an agent and wait three months for one or two potential buyers to come knocking. In fact, there is no telling how long it might take through an agent. An auction, on the other hand, works with specific dates and timeframes. More specifically, the legal part of the deal has to be handled 28 days after the auction, meaning you don’t have to play the waiting game.