While industrial equipment is a valuable asset to companies, it is challenging to keep and maintain redundant industrial equipment. As storage spaces are becoming quite expensive, companies are finding it difficult to give the used equipment a space. So, a lot of companies are selling industrial equipment that is no longer in use.

Does your company have equipment that has served its purpose and is of no further use?

Instead of discarding away the used industrial assets, your company can choose to sell them and make a substantial amount of money. Selling used industrial equipment is a smart way to get some funds that your company can later invest in your business. Now, the question is how your company can connect with qualified buyers.

Here are a few sales methods listed for you to sell used industrial equipment. Read on to find out which is the suitable option for your company.

Private Treaty Sale

If you are an independent owner of an industrial asset or want to sell less expensive equipment, you can choose to sell the used equipment via private treaty. For this, you have to first set the price for the item to be sold. Thereafter, the agent involved in the process has to negotiate with buyers to make a sale. You can either reach out to the buyers in a closed-door event or can use various online channels. Make sure to market your equipment in an effective way as that is how you are going to attract potential buyers.

Pros

• There is flexibility during the negotiations. You can take time to negotiate the price.
• There is greater control over the sales process.
• This is a less expensive way to market industrial assets.

Cons

• Sometimes it can take a longer period of time to finalize a private treaty sale as there is no definite marketing campaign end date.
• You might have to give your industrial asset to the prospective buyer for its physical inspection.

Online Auction

Online auction is much like the traditional auction but is an updated version of it. This has become more popular after the Covid-19 pandemic. If you decide to sell your industrial asset via online auction, you have to post all the necessary details of the equipment that you want to sell and a few pictures of the same. You can do all this without a good deal of investment. You have to further dictate the terms and conditions of the sale and set a minimum bid amount.

Pros

• As this method of sale has several bidders, there is a scope for you to sell your industrial asset at a price higher than the price tag.
• The nature of this method creates urgency and makes buyers act within a limited time.
• You can reach prospective buyers from across the world in an online auction even if you do not have a sizeable marketing budget.

Cons

• This method of sale is not suitable for companies who are sensitive to advertising their industrial asset through the internet.
• The prospective buyers cannot do a physical inspection of the equipment during an online auction.

Consignment Sale

In a consignment sale, your company’s industrial equipment will be left in the possession of a third party with expertise in selling used industrial assets. Once the equipment gets sold, the third party will pay your company a previously agreed-upon percentage.

Pros

• It is a cost-effective method to get your product to market.
• The primary owner does not lose ownership of the asset until it is sold.

Con

It is a slow and time-consuming process.

Before you select the best-selling method, carefully review the pros and cons of each method. If you think you are unable to decide which method will be the best-suited for your company, get in touch with a professional industrial asset recovery company to guide you.

Get Started with Your Sale

Finding the right partner to help your company sell an industrial asset is very crucial for maintaining profitability in this challenging economic climate.

Our centralized marketplace at Aucto is the best place for selling industrial equipment. Here, we assist companies to repurpose and resell their industrial equipment and help them find a more sustainable income for industrial surplus.

Get in touch with us today if your company is planning to monetize surplus and idle industrial assets. Our Aucto expert will get back to you as soon as possible.