Whether you no longer need some of your warehouse equipment, or need to make room for upgrades; you can turn your used warehouse equipment into cash. Buying brand-new equipment can be costly for many businesses, which creates a large demand for used equipment in good condition. But it can be tricky to figure out where to find the right buyer that is willing to pay your asking price.
Here are some tips to make selling used equipment easier and safer:
Research an Appropriate Price Range
The first step in the process of selling used equipment is to come up with a reasonable asking price. As a seller, you may be inclined to ask for top price, but that may cause you to miss out on serious buyers. Keep in mind that many buyers will try to negotiate the price down, so it’s a good idea to leave some room for negotiations as well. Try to locate similar listings to determine market prices. Coming up with a price range and deciding the lowest price you’re willing to accept is helpful. You may also consider getting a professional appraisal to know how much your equipment is worth.
Determine Your Ideal Buyer
Once you have a price in mind, do some research on who your buyer may be. Try to figure out what kind of businesses may be interested in what you’re selling. This will allow you to gear your listing and advertising toward them. Understanding the buyer's needs and wants will make it easier to market your equipment to the right person or business.
Compare Sales Channels
The next step is to decide how you are going to sell your used equipment. There are many different routes you can take. One option is to go to the buyers directly by advertising on different outlets. This option will allow you more control over the price, and you won’t need to pay a third party. However, keep in mind that any advertising costs will come out of your pocket. It can also be difficult to identify the correct advertising outlets and you may not be able to reach as many buyers. Another potential difficulty with this method is that you may need to teardown and help with the transportation of the equipment you’re selling. This can be challenging when selling large items that need to be torn down, such as pallet rack.
If you’d like a third-party company to handle the advertising and sales process, you have the option to hire an auction company. There are online and local auctioneers that specialize in used equipment. This is an easier alternative to going directly to the buyer, but can also result in a lower sum from the sales and less control over the asking price. Some auctioneers will take a large percentage of the final sale price, and may also not let you set a reasonable minimum price.
A third option is to sell your used equipment to a dealer that buys and sells used equipment. Dealers will often make you a quick offer and oversee the sale process; which can be much easier compared to selling directly to a buyer. One of the other benefits of this method is that you won’t have to worry about repairing or even disassembling the equipment. Dealers can buy your equipment as-is and can even come to your location to tear down and transport shelving and racking.
Before you make a decision, it’s a good idea to research all of these options and get more information and price quotes from different businesses.
Create a Descriptive Listing with As Much Information As Possible
If you decide to sell your equipment without help from a third party or dealer, you will then need to create a descriptive listing. Make sure to include as much information as possible, including age, condition, make, model, and maintenance and repair history. Depending on the equipment you’re selling it’s a good idea to list any upgraded features as well.
Coming up with a good description for your used equipment is also helpful when using a third party as they will have questions on the history of the equipment.
Advertise in Multiple Outlets
If you have decided to go direct to buyers, you will need to identify the best advertising outlets. You can use social media, special interest groups and forums, and other online sales platforms. Print advertising in industry publications can also hep you get in front of the correct audience. It’s important to include plenty of information and good quality photos of the item in your listings. Keep in mind that any updates you make to the price or the listing itself should be updated across all advertising outlets.
Verify Buyers
When you have a potential buyer ready to make a purchase, do some reseaerch and verify their identity. Unfortunately there are many scammers that try to take advantage of people selling used goods online. Beware of any buyers that offer over asking price, or ask you to send them a small payment first for any reason. When accepting payment, make sure that it is through a trustworthy site. And lastly, always ensure that the payment has gone through before giving possession of the item.
Sell Us Your Used Warehouse Equipment for Top Dollar
BMH Equipment operates material handling equipment dealerships throughout the Midwest, Northeast and Mid-Atlantic. Sell us your used warehouse equipment and we'll get you cash fast with no middlemen involved. Whether you are downsizing your business or upgrading your equipment, we can help. We are always looking for pallet rack, cantilever rack, industrial shelving, rolling ladders, pallet jacks, gravity conveyors, utility carts, mezzanines, carton flow, bins & totes, cabinets, and more!
To begin the process give us a call at 800-608-8300 or send us a message on our website and let us know what equipment you are looking to sell. A purchasing specialist will examine your products thoroughly and provide a price based on the condition and use history of your equipment. From there we'll work with you to come up with an agreed-upon timeline to remove and transport your equipment.
