How to sell heavy equipment: five equipment selling methods explained

When it’s time to sell your sell your heavy equipment and trucks, chances are you want two things: you want to sell it quickly, and you want to get the best price possible. That sounds simple enough, but with all the available sales options and the constantly varying needs and demands of businesses, selling equipment can become a complicated and time-consuming undertaking.

So it stands to reason that how you sell equipment and trucks should be given some careful consideration – it can have a big impact on your bottom line when you consider how much time (and therefore money) you can afford to spend on the process. Finding the right potential buyers is just one small piece of the puzzle. You also need to consider everything else involved – marketing, arranging inspections, negotiating, vetting legitimate offers, storage, insurance, and other costs. All those things can add up to big money and hundreds of hours spent on the effort. You need to weigh your potential returns against the potential cost of selling.

Whether you take on the task yourself or hand it off to a third party, there are pros and cons to all the different ways to sell heavy equipment. Here’™s an overview of the most common sales channels used for asset disposal to help you make an informed decision.

Heavy equipment selling at a Ritchie Bros. auction

Unreserved or absolute auctions.

An unreserved auction -“ whether live, online, or both – is a convenient method of disposing of large numbers of items quickly. There are no minimum bids or reserve prices, and every item sells to the highest bidder on auction day. That helps attract the most potential buyers possible from a diverse range of industries and therefore creates the greatest demand for your equipment. Buyers participate in these auctions with the intent of buying equipment they can put to use right away. As a result, they typically bid more aggressively on the items they need which generally leads to higher returns for the seller. Another big advantage of this type of auction is certainty of sale, and no time spent by the seller in negotiations with buyers. And auction companies usually offer different consignment options, depending on the numbers and types of items a seller wants to dispose of.

Pros: auction events create urgency and competition, more potential buyers -“ especially with both on-site and online bidding, high demand, better returns, certainty of sale.

Cons: have to rely on experience, skills, and market reach of the auction company; added services come at a price -“ make sure you are getting value for money; you cannot guarantee the final selling price for the equipment (but ask about contracts that guarantee returns).

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Monday Morning Rant – Motivational by Gary Vaynerchuk

What if I told you this was the last Monday morning of your life? Yep: you’re going to die this week. Would you complain about your crap job? That thing you don’t want to do? I doubt it. Instead, I think you would go much higher level thinking; you’d think about all the big things you want to get done. That’s how you should be thinking every Monday!!!!

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Memorial Day

Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in service of the United States of America. Over two dozen cities and towns claim to be the birthplace of Memorial Day. While Waterloo N.Y. was officially declared the birthplace of Memorial Day by President Lyndon Johnson in May 1966, it’s difficult to prove conclusively the origins of the day.

Regardless of the exact date or location of its origins, one thing is clear – Memorial Day was borne out of the Civil War and a desire to honor our dead. It was officially proclaimed on 5 May 1868 by General John Logan, national commander of the Grand Army of the Republic, in his General Order No. 11. “The 30th of May, 1868, is designated for the purpose of strewing with flowers, or otherwise decorating the graves of comrades who died in defense of their country during the late rebellion, and whose bodies now lie in almost every city, village and hamlet churchyard in the land,” he proclaimed. The date of Decoration Day, as he called it, was chosen because it wasn’t the anniversary of any particular battle.

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Cubes: VIP Tour of Hearst

LocalEdge, a Hearst Media Services Company, is a premier multi-media company leading the transition to web-based advertising for any size business. Our organization has been in business for over 40 years.

Through the development of proprietary technology and partnerships with major search engines, social network sites and other leading tech-focused companies, we offer a full line of digital products that help our customers reach and interact with today’s consumer.

About Hearst

Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media companies. Its major interests include ownership of 15 daily and 38 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; more than 200 magazines around the world, including Good Housekeeping, Cosmopolitan and O, The Oprah Magazine; 29 television stations, which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet and marketing services businesses, television production, newspaper features distribution and real estate.

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DLS NEW Programs

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Program Overview ($250,000 – $5,000,000)
  • Rates start at 6.5%, 620+ FICO
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  • Unrestricted cash-out, LTVs up to 80%
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Todd Taylor

800-599-8153

www.diversifiedlendingservice.com

We Go Look

WeGoLook utilizes a collaborative workforce of 30,000+ “Lookers” (background checked agents) to complete on-demand inspections and custom taking through mobile technology for individuals and Enterprise Clients. Think of us as the “Uber of Inspections”.

Our customers build personalized report templates which may include photos, video of working demonstrations, picking up/delivering documents, arranging transport for large items, performing low complex tasking and more.

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Section 179 Qualifying Property

Section 179 was designed with businesses in mind. That’s why almost all types of “business equipment” that your company buys or finances qualifies for the Section 179 deduction.

All businesses need equipment on an ongoing basis, be it machinery, computers, software, office furniture, vehicles, or other tangible goods. It’s very likely that your business will purchase many of these goods during the year, and will do so again and again. Section 179 is designed to make purchasing that equipment during this calendar year financially attractive.

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Attention Private Party Equipment Sellers : Offer Financing

BUYING COMMERCIAL EQUIPMENT FROM AN INDIVIDUAL OR
PRIVATE PARTY

DON’T LET YOUR BANKER TELL YOU THAT YOU CAN’T BUY THE EQUIPMENT YOU WANT! DLS understands how to finance trucks and equipment being sold by private parties as well as dealerships.

Although DLS works with dealerships throughout the United States, from time to time, our customers want to buy a truck, trailer, tow truck, dump truck, or boom truck from a friend, family member, competitor or internet listing site.

DLS will take the following steps to help you buy equipment from a private party and make the process smooth and easy:

• DLS will communicate with the seller
• We will request a copy of the title from the seller and do a lien search to determine if the equipment is owned free and clear or if it has a lien
• DLS will pay the lienholder directly to clear the lien and then pay any equity directly to the seller
• DLS  can order the inspection of the equipment to make sure the equipment information is correct and in good working order
• DLS will handle all of the title work to make sure the title is transferred into your name

This entire process can be handled in 1-2 days, and it starts with a call to DLS today at 716-932-0115.

DLS Equipment Leases

 

DLS understands that many business owners may incur credit issues from time to time. It’s the nature of owning a small business. DLS understands that many business owners may incur credit issues from time to time. It’s the nature of owning a small business. The truth is there are many great business owners that deserve credit when given a chance to tell their story. Acquiring a piece of equipment that has a direct link to a company’s bottom line can lift any downtrodden business to recovery. Not to mention, a successfully paid-off lease will always improve credit ratings. Many business owners experience credit problems. It’s a common occurrence when trying to grow a business. DLS  will approve and fund leases for any business that can demonstrate integrity, organization, skill and the potential for positive cash flow.

Ticket Size – $20,000 – $300,000

Lease Terms 12 – 36 Months (< $100,000)

Lease Terms 24 – 48 Months (> $100,000)

Todd 800-599-8153

www.diversifiedlendingservice.com

Fortune Trading Group

We offer a wide range of investment services globally, specializing in risk management and portfolio optimization. Our mission is to assist our clients invest in the futures and options markets by providing full-service brokerage with their best interests in mind.

Our full-service brokers offer customized support and interaction including providing trade recommendations, conducting fundamental and technical analysis, market research and interpretation, facilitating order execution, and following the markets with and for those who simply do not have the time. Our full-service brokers provide a large variety of services to their clients and work very hard to earn their loyalty each and every day. Client’s appreciate the convenience of having a full-service broker

800-987-0544

www.fortunetradinggroup.com