Unload Used Equipment Online
In order to be successful in any industry you have to have the right tools, and no industry knows that better than the construction industry. Since most compact equipment users are the owners and operators of the business as well as the machinery, it’s important for them to be able to buy and sell equipment in a way that doesn’t interfere with the business’ bottom line. Online auctions help small business owners get the tools they need without breaking the bank. They can also help pros unload used equipment.
Selling equipment through online auctions is an easy way to reduce your equipment fleet and make room for other items that may be needed for future projects. Online auctions not only provide services to aid in the selling process, but they also market your items to a global network of buyers and make selling equipment less of a hassle in many ways. All of which the seller can do without having to leave the office or the jobsite. And, for small business owners, that’s important.
When it comes to small machines like skid steer loaders, compact track loaders and other compact equipment, online auctions are a good solution for equipment management for both the buyer and the seller. In most cases, the seller is also the business owner, so taking time away from the jobsite to attend traditional auctions can sometimes equate to a loss in revenue or other issues. However, by utilizing online auctions, business owners can have the best of both worlds; they can eliminate excess inventory, getting a bigger return on investment, while not missing a minute on the jobsite.
Once you make the decision to sell your equipment, there are a few things that must be done to get the item ready for auction. Most preparations include minor repairs such as fixing leaks and replacing hoses, cleaning and detailing the equipment as well as addressing any other maintenance issues. Getting the equipment prepped and ready for the inspection and auction is an important step in the sales process and can also be a costly one. But, by handling the cleaning and repairs yourself, there is a greater chance of getting a higher selling cost, among other benefits, when the item goes up on the virtual auction block. Besides, no one knows the equipment’s ins and outs better than the guy who owns and operates it.
Since online marketplaces are virtual, a number of companies provide tools and services to help market the equipment in the best way possible, especially since buyers are not able to personally examine the equipment. Companies like IronPlanet conduct detailed inspections at the seller’s location and then post the findings online. Good online auction companies also guarantee these inspection reports, so that what buyers see in the reports is what they get once it’s delivered to their location after the sale. The inspection service helps establish the condition of the equipment, aids in deciding on the selling price and gives buyers the confidence to bid on the items they want.
Flexibility is another benefit of online auctions. Because of the virtual nature of online auctions, it’s easy to have them more often than traditional auctions that have to deal with logistical and transportation issues. It all depends on the site, but popular online auction houses have weekly auctions, so it gives business owners the opportunity to buy the equipment, use it for a particular job and then sell it once the job is complete and recoup some of their initial investment in the equipment. Also, with online auctions the equipment remains with the seller until after the auction, so there are no worries about scheduling transportation for the machinery or the conditions in which the equipment will be subjected to while waiting to be shown at the auction.
Once the auction is over and a winner is declared, the next part of the puzzle is to arrange for transportation of the equipment from the seller’s location to the buyer’s location. Since online auctions have a global audience, sometimes the equipment was purchased from a seller two states away and sometimes from a seller across the Atlantic Ocean. The auction companies can help make transportation and shipping arrangements so that sellers can get the equipment off their lots and buyers can get it in a timely manner and start putting it to good use.
Paul Hendrix is an equipment pricing analyst for IronPlanet, based in Clanton, Ala.
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Terex Construction Launches New Website
Terex Construction is promoting the term “user-friendly” when talking about it’s new website at www.terexconstruction.com. Built in response to customer feedback for improved navigation, more dynamic product information and more direct access to Terex Construction-related information, Terex’s new online headquarters is fast, efficient and easily accessible.
“The new site is designed to provide a fresh, user-friendly experience for everyone,” said Kristy Jennings, marketing manager of Terex Construction Americas. “The site’s landing page welcomes visitors with a clean, uncluttered design while showing bold and dynamic content centered on Terex construction equipment and the services we offer.”
With only a few mouse clicks, visitors will be able to quickly and easily find the information they need, such as: specification sheets for new equipment; available used equipment; contact and support information for warranty, service and parts; training offerings; and equipment financing information. There will also be a section for Terex distributors that will provide “one-stop-shop” access to the resources they need to better serve customers.
