When you’re auctioning large equipment such as construction equipment or trucks, making a profitable return on the sale is of great importance. Finding trusted professionals who know the value of your products is key, but also a challenge. Fortunately, at Dakil Auctioneers, we host large equipment auctions frequently and strive to help the seller receive max value at the auction. We’re here to help, so we’re sharing our best large equipment auction tips with you.
Researching the sales trends prior to auction for both older and newer equipment is integral to ensuring you receive max value in a large equipment auction. It’s always helpful to have a reasonable value in mind for whatever you’re selling and buying. While professionals will help you with this, coming in right away with price points in mind can drive the conversation as to what the best starting price should be.
While doing your own research is important, don’t ignore the importance of talking to an auction professional. Auction professionals have solid experience with large equipment auctions, and they know what products are worth and what they are most likely to sell for. Auction professionals will use their expertise to ensure that you get the highest return on investment for your product.
Take as many photos of your equipment as possible. This will not only show the buyer what your product is worth, but it will also show them the exact condition it is in. Earning buyers’ trust helps them to be more willing to pay what your product is actually worth.
Making sure the right buyers for your product are present at your auction increases the likelihood you will receive the best possible return on investment. Don’t underestimate the power of marketing to online groups, putting ads in relevant sections of the newspaper or local trade magazines, or simply connecting with organizations that would value your products. Fortunately, Dakil can do this for you.
There are many different things buyers of heavy equipment could be looking for at an auction, but if you come prepared, transparent, and knowing the worth of your products, your chances of a higher return drastically increase.
For more information on how to prep your items for an auction, refer to our blog “Prepping Your Items to Get Max Value at Auction.”
