3 Commonly-Asked Questions About Machinery Auctions
3 Commonly-Asked Questions About Machinery Auctions
One great way to maintain financial equilibrium in your business is to liquidate unwanted assets through machinery auctions when required. While liquidation has a negative connotation, in actuality, it can be used to facilitate your company’s growth and to make room for new inventory.
For example, if you are part of the manufacturing sector, then machine tool auctions are an ideal way to get rid of any surplus machinery from warehouses and your premises. One of the primary reasons for the success of this market channel is that Infinity Assets provides a full suite of services, which help to maximize the value of your surplus equipment, underperforming and unwanted machinery. That being said, you might have a few queries about the process.
To clarify, 3 common queries regarding machinery auctions are addressed below
Are auctions suitable for only distressed equipment or products?
One of the most common misconceptions about auctions is that they are mostly held for distressed or failed equipment. On the contrary, they are a major sales outlet as they facilitate in selling highly valuable machinery and even Real Estate. It is the competitive nature of the bidding process that sets the market value and final price of the assets sold during an auction. Through global marketing campaigns and attention to detail, Infinity’s industrial plant auctions consistently provide clients with industry-leading auction results and services.
Moreover, professional auctioneers such as Infinity Asset Solutions thoroughly vet the bidders prior to the auction, so that all involved parties are authentic.
What should I do to prepare my machinery for auction?
If you want to get ahead of the game and start preparing your equipment for auction, we recommend cleaning all machinery thoroughly to remove any grease, debris, etc. that may be present. This will help the machinery show well in the photos that are used for online marketing of the auction. It would also be beneficial to pull out any machine manuals, specifications, options, purchase price information, etc. to help so buyers will have all the information they require to make an informed decision when bidding. Having an operator on hand to record a quick video of the machine in action is an added bonus.
What is a buyer’s premium?
In machinery auctions, a buyer’s premium refers to a service charge for which the buyer at the auction is responsible and is added to the hammer price of the machine.
With over eight decades of experience, Infinity Asset Solutions is a big name in the auctioneering business. Our professional services include organizing auctions, conducting appraisals and audits, as well as assisting in business liquidation. Our continual involvement with industrial plant auctions and liquidations gives us the expertise to determine the value of this equipment at any point in time. Contact us today to learn more about our services.
