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5 Tips To Get The Best Price For Used Industrial Equipment

May 02, 2023

Conventional machine auctions usually comprise equipment appraisal, documentation and of course, the actual auctioning. However, after the pandemic, many businesses have shifted their focus online, and auctioneering is no exception. While online auctions and transactions are a great market channel, some buyers are still apprehensive about using this platform. Thus, to purchase used industrial equipment for a great bargain online with minimal risks, it is important to know some useful tips. 


5 Ways to Secure The Perfect Online Auction


Gather Information

First and foremost, it’s vital to gather as much information as possible about a particular machine. It’s also important to ascertain if the equipment is the best fit for a given application, or if there are better pieces of machinery in the market that can perform the same task more efficiently. 

Compare Offers

When purchasing used equipment online, it’s likely that a buyer might come across several offers from multiple traders. The most prudent course of action is to compare the various offers and decide on a seller after careful consideration. 

Ask For Inspection

Even though the machine is being purchased online, it’s vital to ensure that it is working in proper condition. Thus, try and arrange for an in-person inspection or ask for some other proof that verifies the claims of the seller. 

Ask For Documentation

Another fundamental tip is to always ask for documentation before purchasing any used machinery. Carefully examine the document regarding previous maintenance schedules and repairs to ensure that the machine is in excellent condition. 

Handle Cost of Transportation

A caveat of purchasing equipment online is the additional cost of transportation. The sellers tend to charge quite a hefty sum for this service in order to earn an extra profit on the sale. Thus, in order to reduce expenses, the buyer is recommended to arrange transportation.

By following these 5 basic tips, you are more likely to get a great bargain on used industrial equipment. 

Infinity Asset Solutions is a leader in the field of organizing industrial & commercial auctions. We also offer expert advice and services in matters pertaining to business liquidation as well as reliable equipment appraisals. Reach out to us today for more details.

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