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When looking for quality used heavy equipment, auctions are the best venue to consider. Finding great deals at this type of market is usually possible since most of the vehicles that are originally very expensive and produced by well-known manufacturers are sold for a lower amount at heavy equipment auctions than through dealers. Starting prices are usually set at least ten percent less than the actual fair market value. Knowing some important facts about auctions is helpful in order to be successful at the event itself. Keep these tips listed below in mind when attending one of these functions. Age and History - When choosing heavy equipment, age should be one of the biggest considerations. Another factor to consider is how many hours or miles the vehicle has been used. These two variables will vary greatly from one manufacturer to another as it greatly depends on other factors such as the model, equipment type and other specific features that can cause it to age differently. Usage and Maintenance - Learn the usage history of the machine as this is another big factor in being successful at heavy equipment auctions. As with any other machine, knowing how it was handled and whether or not it is in bad condition will also help gauge the value of the item. If possible, it is important to obtain the maintenance records of any vehicles of interest as this will help in determining the overall condition. Test Results - At most heavy equipment auctions, the company offering the vehicles for sale will usually test the vehicles before placing them for sale. For a potential purchaser, any test results should be obtained to help determine both a starting bid and a maximum amount. It is of course desirable to pay a price low enough to offset any necessary maintenance. Remember, the price is usually higher for items that are of good quality and have a long service life still available. “Out-of-XXX” Purchase – Any equipment that is sold in an “out-of-xxx” (xxx = out-of-season, out-of-business, etc.) situation offers a great opportunity for purchasers. For instance, in an “out-of-the-market” situation, items are being sold at an unusual location for the item at an unusually low price due to large supply and little demand, as would be the case when selling a snow tractor in San Diego. Buying “out-of-season” means acquiring certain items during the seasons when the machine is not generally used, as would the case of selling a snow tractor in the middle of July which again means a much lower sales price. Unfavorable Weather - Going to an auction site, even in unfavorable weather, can often be very favorable to a buyer. Heavy equipment auctions are usually held outdoors; if there is any type of adverse weather conditions, there is a great chance that fewer bidders will show up. In this case, the beginning big price may be lowered so that the items can be sold in spite of the bad weather. Purchasing heavy equipment from an auction is taking a step towards success since the market sources that exist are numerous. The IRS, banks and government agencies use heavy equipment auctions for selling vehicles and equipment that have been repossessed; leased vehicles are also handled in this manner. In addition, large dealers or manufacturers who are ready to introduce the latest models and need to dispose of the older models quickly use this avenue of trading as well. Many of these vehicles are high quality and may even have a factory warranty remaining on them. So going to heavy equipment auctions armed with all of the knowledge gained from this article will undoubtedly produce successful results! Christopher M. Hunter is an expert in the auctioning of industrial equipment. To find out more about Heavy Equipment Auctions, go to the main website at: http://www.jjkane.com/home.
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