Being Prepared When You Go For Equipment Auctions

Auctioneers and equipment auctions can be so diverse it may be difficult to say they are in the same business. One may exude total professionalism complimented with unconditional integrity, product knowledge and great service. Another may be rude and dishonest and know nothing about the goods to be sold. However, this doesn't mean that the potential buyer cannot find a bargain at equipment auctions conducted by either, although the shear aggravation and disappointment may preclude the latter. So it is important to know why you can have a “win-win” situation in any equipment auctions.

More often, you can find the best quality piece of used equipment available at the best price from a used equipment auctions but consider the following:

• Quality of equipment

Equipment dealers stock and market machines they think they can sell. They have a limited amount of space on their yards, and the machines that are in the best condition get preferential treatment. While you may be able to find a few machines being auctioned off that are in excellent conditions, the majority of what you’ll see are machines that someone else didn’t think they could sell outright.

• Pricing

The possibility of finding a “steal” at equipment auctions is one of the elements that keep buyers coming back. The competitive nature of bidders usually drives up the price of machines beyond what you would typically pay an equipment dealer. Keep in mind that no seller is in the market to lose money. Dealership prices are set by what industry data deems is a fair price for an equipment. The price you’ll pay at equipment auctions is can be a little cheaper or expensive and that is the fact.

• Take your time

Buying equipment should be well researched and thought out. Before you buy, you need to make sure that a specific machine is exactly what you want, and you’ll want to perform a thorough inspection for yourself. Instead, take your time, look around and make sure you’re getting exactly what you want and need before bidding.

• Trust

When you’re buying used equipment in any equipment auctions, trust is so important. You have to trust that the machine you’re buying is being properly represented by the auctioneer, it’s free of any liens and that you’re going to pay a fair price. If you do have an issue after the sale, you want to work with someone who will help find a fair resolution to the situation. Auction companies work on volume where the more equipment sold, the more they profit. Be sure to inspect the equipment first before bidding them or asking for its history and information.

Every equipment auctions set the days and location for buyers. There is no flexibility. If you need something now or have a prior commitment the day of the auction, you’re out of luck. So be prepared and list all the equipment you need to have before going into any equipment auctions.