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The Ultimate Guide to Buying and Selling Industrial Equipment

The Ultimate Guide to Buying and Selling Industrial Equipment

Let’s face it; your old excavator could use an update. But you might hesitate to invest with prices on new equipment through the roof. (Maybe that’s why your excavator is as old as it is).

Not to worry! There’s an affordable way to update your industrial equipment. Not only is used equipment more affordable, but if you choose the right products, they can be just as reliable as the new versions.

Continue reading to learn about how to buy and sell your used gear.

Where to Buy and Sell Industrial Equipment

Buying and selling large business gear isn’t like buying a personal car; you won’t go to a dealer (unless you buy new) or find equipment details on “TRACTORFAX.” You’ll likely spend time looking for used equipment at an equipment auction.

There are a couple of ways to attend an equipment auction:

  • In-person auctions
  • Online auctions

Many cities have regular auctions in-person, where you can bid on equipment. While these are great for getting a close eye on industrial gear, you might not find what you’re looking for.

For a broader range of equipment options, online auctions are convenient. You can purchase from more areas across the country, although you won’t get to look at the equipment first, and it’s harder to negotiate a price when you can’t meet with the seller. Check out fuelled.com for properly inspected industrial gear.

How to Buy Construction Business Equipment

When buying industrial equipment for your business, you must know what functions you need it to handle. This helps determine which type of gear you should look for.

When you know what tool you need for your job, you can more accurately search through your options. You might find a tool from a smaller brand that can do the work just as well. Because industrial gear is such a significant investment, you have the potential to save a lot of money with just a little research.

Before the final purchase, you must have the business equipment inspected. Aspects of your machine that you should not skip over include:

  • Engine startup and idle
  • Fluid leaks
  • Hydraulic and transmission conditions
  • Gear shifts and rotations
  • Controls
  • Brakes
  • Heavy exterior damage and other wear and tear

Inspecting these features of your prospective machine will help you determine its condition and life expectancy.

How to Prepare Your Industrial Gear for Auction

Just as you make all the stops to buy quality equipment, so do the potential buyers of what you’re selling. To ensure your industrial gear is top of the line, you’ll want to prepare it for auction.

Go through the checklist above. Is your equipment satisfactory in these aspects? If not, you’ll want to have it serviced.

In addition, you’ll want to take the time to make it aesthetically appealing. Give the machine a good wash, repair broken windows, and re-upholster any tears in the interior. This will help your gear sell faster and for a better asking price.

What to Do With Your Extra Equipment

The information above should help you understand how to buy and sell used industrial equipment. However, if your machines are in good condition, there may be other ways to repurpose them.

Check out our other business-related articles for advice on using industrial gear and construction industry insights.

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