Are you looking to offload some of your old equipment? Not enough room in your workspace? Want a bit of extra cash? Thankfully, there are many ways to sell your used machinery. This blog will cover tips and tricks for finding the right customers when selling used fabrication equipment.
Ways to Sell
Sell Directly to the Consumer
Think about what kinds of jobs your equipment could be used for and the people in your network. For instance, could a local hardware store use your equipment to cut materials for customers? Is there a repair shop that could use your equipment for spare parts? Do you know anyone in construction who could use your equipment to make their job easier? What kind of machine shops use this specific equipment?
You can also check wanted ads, such as the ones on Sanson Machinery Group’s website. If you can identify someone who’s already looking for a piece of machinery, you can cut down on the amount of time it will take to make a sale.
Narrowing down your list of potential customers helps you focus your efforts where they will be most likely to result in a sale and will help you avoid wasting time.
Sell Used Equipment Online
By listing your equipment online, you’re able to reach a wider range of potential customers outside of your network. There are many websites that allow people to sell any kind of second-hand goods, but you might have more luck with a site tailored specifically to manufacturing.
In order to be successful in selling used fabrication equipment online, you need to provide lots of pictures and information. High-quality, well-lit photos showing the equipment from all angles, detailed shots of specific components, photos of finished products made using the equipment, and videos of the machinery in use are all excellent ways to help customers make informed decisions when purchasing used equipment.
Consignment and Second-Hand Dealers
If selling directly to another individual or business doesn’t work, you can try selling your used fabrication equipment to a consignment or second-hand equipment store.
Research second-hand equipment sellers in your area and beyond. What kinds of equipment do they sell? Are they looking to expand their inventory? How much commission do they ask for? These are all important questions to consider when going the consignment route.
Look for resellers such as Sanson Machinery Group which are members of the Machinery Dealers National Association (MDNA). Members of this organization are dedicated to furthering the lawful interests of the machinery industry, promoting high standards and ethics in business, and conducting activities in a way that improves the objectives of the machinery industry. Whether you’re selling or buying, if you see that a reseller is a member of MDNA, you know that they are most likely a reputable company.
Many people prefer consigning their used fabrication equipment because the seller doesn’t have to worry about contacting customers and they can utilize the store’s marketing system and network of contacts.
There are two major options for consignment:
- Immediate purchase: The reseller buys the equipment from you, giving you quick cash. The reseller is responsible for storing and selling it.
- Traditional consignment: The reseller lists and advertises the equipment, but it stays in your possession until it sells. It will take longer for you to receive any profit, but the return on investment is usually higher.
Tips and Tricks
Determine the Right Price
If you price your equipment too high, nobody will be interested in buying it. On the other hand, if you price it too low, you won’t get as much money as you could have. The way to find the right price is by comparing it to other listings, whether online or in-store. How much are people willing to pay for this particular piece of equipment of a similar age and condition? By doing your research, you can price competitively without sacrificing profit.
Clean Your Equipment
Nobody wants to buy dirty equipment! Imagine shopping for manufacturing equipment and seeing grungy, grimy items for sale. You’re not likely to buy those, right? So before showing your equipment to interested parties or taking photos of it to post online, give it a good polish. Clean equipment allows customers to accurately assess the machinery’s condition and whether or not it has been kept in good repair.
Used Machinery at Sanson Machinery Group
With over 60 years of experience, Sanson Machinery Group offers both new and used fabrication machinery in locations all over the United States. We strive to provide excellent customer service. Contact us today for more information or to get a quote!