September 15, 2023 Benefits of Buying Your Machinery at Auction

In this article, Auction News take a look at why buying your machinery at auction can have its benefits for your business.

When it comes to the equipment needed for industrial and heavy machinery, there can be a lot of cost involved, so it is important to find the best way to keep your expenses down and still get the right tools for the job. One of the best ways to do this is by buying the machinery you need at auction, where it can be possible to save a small fortune.

Keeping costs down

Auctions of any type tend to be popular because they can be the perfect place to grab a bargain, and the same is true when it comes to buying your machinery. The equipment that is often might be used or from discontinued stock, and so is sold at a much lower price that you might ordinarily have had to pay.

The auction allows you to see the listings of what is on sale beforehand, including a guide price, so that you can set yourself a budget and not allow your bidding to go over this. Therefore, the auction system can help you to control your spending and get everything you need for a fraction of the price.

It is worth remembering that just because the machinery that you can buy is cheaper, it does not mean that there is any loss of quality.

Reputable auction houses will have carried out stringent checks on everything that they sell to make sure that they are safe and in good working order, giving them the ability to provide information on the condition of each piece as well as its capacity and efficiency. In the case of new equipment, there is often nothing wrong with it, and it will simply be sold on at auction to make room for the newest model.

Plenty of choice

When you are buying from a main dealer, you might find that your choices are fairly limited. They will probably only be offering the latest models of equipment, which might not meet your needs or might be beyond your budget.

It can leave you choosing between just a small number of options, with none of them being exactly what you want. The pieces of equipment that appear at auction can come from a variety of places and all for different reasons, meaning that you tend to have a lot more choice.

The options available are much more wide ranging, and you are far more likely to get exactly the thing that you wanted.

No hidden costs

When you buy at auction, you know exactly what you are getting. The rules that are in place give you the opportunity to find out as much as you can about each piece of equipment before you start bidding on it. You can do your homework and ask plenty of questions about the features, efficiency and condition before you put your money into it.

Once you enter into the bidding war, you are able to see for yourself exactly how much it is going to cost you and can stop at any time. Whilst there might be some fees applied by the auction house, or deposits required, these are all clearly advertised before the sale.

That means that when you buy something at auction, you know exactly what you are getting with no hidden costs that dealers might try to work into your purchase.

Quick process

You might need to get your hands on a new piece of equipment in a hurry because of breakdowns or expansion and cannot wait the weeks or even months that it might take to be delivered when ordered from a dealer or retailer.

The beauty of an auction is the speed at which everything happens. You know the date of the sale, and there will be a set timeframe in place for it to be completed, meaning that you can get your hands on your machinery much quicker without the worry of supply chain disruptions.

Depreciation

Just like buying a new car, when you buy a new piece of equipment its value can plummet the moment that you take delivery of it. These can be huge investments for your business and are important assets, but a brand-new piece of machinery will drop in value the minute that it is used for the first time, making a depreciation in your asset unavoidable.

By buying your machinery at auction, this depreciation can be avoided to a much greater extent. As it might be pre-owned, refurbished or end of line, it is less likely to take that massive drop and will actually hold its value for the next few years, which is even better if it is only a short-term purchase.

Added protection

Buying second hand machinery might sound like a risky business, but buying at auction can help to reduce a lot of your risks. If you were to make the purchase privately, there is likely to be little or no protection available to you, and you have no guarantees what condition it is likely to arrive in, if it even arrives at all.

Auction houses will perform their checks to give you the peace of mind that you need, whilst also helping to bring together some of the best equipment from around the world.

No salespeople

One of the most off-putting elements of making an expensive purchase is having a pushy salesperson who is desperate to make their commission. Auction houses leave you free to consider your options, ask the questions that you want to and only make the purchases that you want, without haggling, sales pitches or difficult negotiations.

Buying machinery at auction is now an incredibly popular option, as it can present some terrific bargains. There can be a great amount of choice and plenty of transparency in each sale to ensure that you know exactly what you are getting, how much it is costing you and when you are getting it.

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