What Is the Best Way to Sell Used Heavy Equipment?

What Is the Best Way to Sell Used Heavy Equipment
Author: Small Business Expert | July 6, 2020 | Topic: Used Equipment

What Is the Best Way to Sell Used Heavy Equipment?

When you're selling used heavy equipment, you might have two main concerns on your mind: making as much money back as possible and finding a quick, easy way to do it. The best way to sell your equipment should be based on which of these factors is your top priority.

Common Ways to Sell Used Heavy Equipment

If you're wondering how to list heavy equipment for sale, you should start by looking at the pros and cons of the most common methods.

 

1. Selling Privately

If you're looking to get the best return on investment for your equipment, selling it privately may be a good option for you. This process eliminates the need for a middleman, and you'll be fully in control of the price.

The main problem that sellers run into during private sales is the significant investment of time and money. You'll need to arrange inspections and contact potential buyers. There's a good chance you'll also have to deal with buyers trying to haggle when it comes to price.

 

2. Selling at an Auction

Many people believe that an auction is one of the most convenient ways to sell used heavy equipment. However, your experience can vary greatly based on the skills, experience and market reach of the auction company you choose to work with. You should also keep in mind that you'll need to pay commission fees when you sell equipment at an auction, which can severely cut into your profit.

 

3. Selling Through an Online Auction Site

Selling your used equipment through an online auction site will come with a unique set of advantages. You can reach a global audience of qualified buyers, and the process is relatively quick and easy. If you choose this option, however, you may have to pay premiums or fees based on the platform you use to sell. You also might be responsible for the cost of transporting your equipment. Finally, you should be prepared to wait a few weeks to receive the payment for your equipment.

 

4. Cosigning With a Dealer

Cosigning with a dealer is one of the easiest ways to sell your equipment. Dealers have a deep understanding of the industry and the local market. They tend to have good connections, and their location is a prime spot in which to display your equipment to the public. Your return on investment may not be as high as it would be with other methods of selling your equipment, but the process will be incredibly convenient and easy.

 

5. Trading in at a Dealer

If you're thinking about cosigning with a dealer, you should see if they also offer trade-ins. A trade-in is an excellent way to offload one piece of equipment and get another one in return. If you're looking to expand your fleet with equipment that's best for your applications, this option will likely be your ideal choice.

Browse the Equipment at Cat Used

If you're looking to buy or sell used equipment, look no further than Cat Used. Find a dealer near you and contact them to learn more about a specific piece of equipment.