Surplus industrial equipment takes up unnecessary space. Selling used industrial equipment is a fast, efficient and profitable way to get rid of old equipment. To get the best possible price, there are many logistical and operational challenges to consider. Follow these steps to prepare your goods, determine a good asking price and find the best sales channel or quote request.
Step 1: Prepare Your Equipment for Maximum Value
Preparation is the crucial first step in successfully selling used machinery. It’s an opportunity to focus on getting a higher selling price and a faster sales cycle.
Thorough Inspections and Minor Repairs
Take the time to assess the true condition of your surplus machinery. Inspect the condition of your equipment by checking for:
- Signs of structural issues, such as metal fatigue or deformations.
- General wear and tear in any moving components, such as belts and chains.
- Leaks or discoloration around any mechanical or electrical seals.
- Unusual noises or vibrations when in use.
If a minor issue is identified, consider a small, low-cost repair before you sell. It can increase the perceived market value.
Deep Cleaning Machinery for Presentation
People make purchase decisions based on first impressions. Clean manufacturing equipment tells a reputable buyer that it has been well-maintained.
This approach gives people confidence in making a purchase.
Gather and Organize Documentation
The history of your manufacturing and processing equipment is important. Buyers will expect to see comprehensive documentation, including:
- Maintenance logs: Comprehensive logs provide buyers with a clear history of care, demonstrating reliability.
- Service records: Detailed records confirm that the equipment has received professional repairs.
- Original purchase orders: This shows the buyer proof of the equipment’s initial specifications.
- Operating manuals: New owners can quickly integrate industrial equipment with these manuals.
- Compliance certifications: Compliance with industry standards and regulatory bodies reduces buyer risk.
The more proof of value and compliance you have, the more likely a sale is.
Step 2: Determine a Realistic Asking Price
There’s a balance between being realistic and underselling your equipment. A simple, stress-free move from preparation to valuation requires research to ensure you’re not leaving money on the table.
Research the Current Market
The online marketplace will determine your asking price. Look up similar items and compare them to yours.
For example, if an online marketplace or auction site offers industrial chemical equipment for sale, its asking price will typically align with market demand.
This information helps you determine a price that’s fair but realistic for market standards.
Factors That Determine Price
There are three main factors that determine your price when you sell industrial equipment:
- Equipment age: The age of the equipment influences its market value. New models often incorporate advanced technology and have longer lifespans.
- Condition: Physical and operational condition impacts pricing, with well-maintained equipment commanding higher prices.
- Performance: Consistent, efficient performance reassures buyers and can justify a premium price.
These factors are the combined critical drivers that industry and consumers alike use to determine their economic value.
Step 3: Choose Your Sales Channel
The right channel for selling used equipment is a strategic decision. Some options can help you sell industrial equipment for a fast turnaround, while others can take longer but yield a higher dollar amount.
Selling Directly to a Dealer or Broker
A dealer or broker will offer a fast, simple and hassle-free way to sell your industrial equipment quickly.
While the final price could potentially be a little less than what you’d get at a private auction, selling to an experienced dealer doesn’t require complicated logistics.
Using Consignment Services or Auctions
Auctions or consignment services can be effective for liquidating several items of surplus machinery at once. But they can also lead to pricing volatility, with your bottom line determined by the mood of participating bidders.
Listing on an Online Marketplace
The world of online marketing is difficult to predict. You may be able to sell machinery at a premium price, but it can also result in your products getting lost in the digital stratosphere.
You’re responsible for managing product listings, vetting buyers and handling the logistics of online marketing.
For many sellers, online marketplaces are too time-consuming to reap their benefits.
The Advantages of Selling Your Used Equipment
Selling equipment you no longer want offers several benefits to small businesses, project engineers and other professionals.
The Financial and Environmental Benefits
By selling used equipment, you can take part in the circular economy and reduce unnecessary waste.
This gives you and your potential buyers a streamlined form of industrial symbiosis, where one company’s equipment becomes a valuable resource to another.
How Selling Boosts Operational Efficiency
There are several immediate operational benefits that come from selling machinery, such as:
- The ability to free up valuable floor space for equipment you actually use.
- A chance to lower the insurance and maintenance costs of your idle equipment.
- The means to generate a fast flow of income that can be used for other business priorities.
You can then pursue strategic business goals without the need for unnecessary equipment storage.
Get the Most Value for Your Surplus Assets
There’s a solution out there for every used equipment seller. Louisiana Chemical Equipment Company (LCEC) provides a fast, easy process for a fair and profitable manufacturing product sale.
To get sellers a fair market value price for used industrial equipment, our selling items page is ready to be filled in. For a fast and accurate quote, it’s important to include detailed information, such as:
- An itemized list of every piece of equipment, including all spare parts.
- A breakdown of the appearance and working condition of each asset, noting any missing parts.
- Maintenance records, operating manuals and part replacement dates.
- Your business’s full address, including country, state and location.
- Clear images or videos of your equipment, highlighting close-ups, safety features and proof of working parts.
For over 55 years, LCEC has partnered with companies to handle sales of all sizes. Whether you’re selling your equipment as part of an asset recovery strategy or as part of a complete chemical plant inventory, we can help.
Providing Fast and Fair Quotes for Used Equipment Since 1968
It’s easy to begin your partnership with Louisiana Chemical Equipment Company. We handle the valuation and logistics for you, facilitating a straightforward purchase from our global network of buyers. If you have any questions about how to sell your machinery, contact us today and a member of our sales team will help.
