Contractors and companies looking to expand their fleet or replace outdated machinery may find auction purchases an economical solution, provided they conduct thorough financial due diligence and arrive well prepared at auctions.
Buyers should consider sales tax and transport charges when attending auctions; setting their maximum bid prior to attending helps to prevent costly storage fees from accruing upon winning the bid. Furthermore, when they win their bid they should arrange swift transport arrangements as soon as they win in order to minimize storage fees.
Online auctions provide numerous advantages for both buyers and sellers. Buyers can quickly locate construction equipment auctions online, while leading auction houses provide an advanced search tool allowing users to filter equipment by type, brand name, opening bid amount and more – helping find exactly the equipment you require without overpaying for it.
Buyers should perform extensive research before bidding in any auction; for those wanting to inspect equipment in person, onsite auctions offer inspection days prior to each auction date and can utilize pricing data from equipment guides, marketplaces or conversations with dealers as an indicator for expected purchase prices.
When selling equipment, it is wise to partner with an auction house with a proven record of successful sales. They will understand the value of your equipment and how best to market it effectively while also helping with payment collection, pickup arrangements and document transfer.
Many companies offer auctions of heavy equipment and construction supplies in-person. These events offer great savings opportunities on both new and used equipment. It is important to prepare for these auctions by researching the types of equipment you intend to buy as well as familiarizing yourself with bidding process, payment and transportation options offered at each auction.
If you plan to attend an in-person construction equipment auction, be sure to register early so you have time to inspect equipment and find a seat. Also set out a budget that you intend to stick to as it’s easy to become lost in bidding war excitement and spend more than expected.
Once you’ve won a bid, the auctioneer should collect payment within a specified timeframe – either via wire transfer or credit card. Some auctioneers also partner with lenders who provide heavy equipment financing solutions.
Machinery Trader, established in 1978, is an equipment industry’s premier marketplace, providing sellers a cloud-based platform for creating for sale listings with equipment details, specs, photos, videos and more. Furthermore, buyers can instantly inquire about specific products by phone, messaging apps and email. Machinery Trader is owned and headquartered in Lincoln Nebraska by Sandhills Publishing.
Search engines provide potential buyers with an easy way to narrow their options by location, industry, equipment type, make, auction date, year and serial number – making it simple for buyers to locate exactly the piece of equipment they require at a fair price.
Cost considerations must also be carefully evaluated. Both Machinery Trader and Fleet Up Marketplace offer packages for different levels of advertising; the latter being more economical. This makes Fleet Up Marketplace an attractive option for rental yards looking to advertise their inventory online without breaking the bank, plus offering features for managing inventory management.
Construction equipment guide
No matter if you’re buying or selling equipment, preparation for auction processes should always be a top priority. This includes conducting research, prepping equipment for sale and being open about your business dealings. This might involve comparing specifications, peer reviews and current market values; scanning private broker or auction listing websites as well as your local listings database; etc.
Selecting equipment appropriate to their tasks and circumstances is paramount for contractors. Bigger isn’t always better; choosing an optimal size depends on what, where, and when your work will take place. Furthermore, make sure you account for maintenance costs and insurance expenses which could impact your return on investment.
Construction Equipment Guide (CEG) is a national news publication and website focused on the construction industry, covering infrastructure projects, legislation and auction coverage; specials; equipment listings and wanted ads. Furthermore, CEG features an equipment price guide as well as company profiles section – with its headquarters being in Fort Washington Pennsylvania.