Buyer and Seller Advantages

These days, more and more heavy equipment and machineries are sold and bought using auctions. These include farm equipment, heavy machineries, earthmoving equipment and construction equipment for sale. The crux of the matter is that both sellers and buyers are increasingly aware of the advantages of selling and buying machinery at auctions.

Buyer’s advantage

More and more buyers are now aware that one can get high quality, name brands at lower prices than one would pay for new models. They are also into the fact that even if you already have good equipment, you can find extra pieces of backup or occasional use.

Often, buyers get just what they need without paying the price for new items. The main benefit of buying used equipment is the value. With heavy equipment, there is no “show room premium” attached to the price.

This makes both buyers and sellers having the advantage of the best value, determined by the auction selling price.

Seller’s advantage

For the sellers of construction equipment for sale, there are faster results than classified ads or word of mouth. Auctions are advertised widely and the number of prospective buyers keeps on multiplying. If the equipment is well-maintained, the selling price is likely to be higher than trade-in values.

The sale is also much quicker to be consummated with cash in hand right after.

Most sellers represent their equipment accurately, but most are sold “as is”. With some inspection and a few questions answered prior to the auction will usually ensure a fair price for the item’s present condition.

Items to check

For buyers, here is a guide on what you are getting. First, check for any warranty still remaining. Some parts (or maybe all) might be under some type of warranty.

Check the hours on the engine, the wear on the tires, and some other indicators that can be used to make certain that the usage and history of your prospective equipment fits your decision.

Ensure that you can still get replacements parts. One of a kind or real antiques looks good but they’ll end up with the weeds obscuring them if they cannot be repaired and be of service.

Check out the fair market value before the auction. There is a source for every type and piece of construction equipment for sale that can be used to arrive at a certain price range. Look for it and use it.

Getting your bids

While attending in person and managing one’s bidding is still the best choice, there might be some questions on the distance on the auction site and the buyer’s place. Here are some of the ways to get your bid in.

The best is being there in person to inspect the equipment, decide on the top bid. Absentee bids usually require qualifications in advance. It’s still a good way but you can lose out by limiting on the top bid.

Bidding through the Internet (when available) lets you follow the bidding like you were present, although not as good as being present in person. However, online biddings are open for days and you can increase your maximum bid as the closing time approaches.