Debunking 4 Myths Surrounding Used Industrial Equipment

There are many assumptions when it comes to procuring used industrial equipment from auctions, such as low cost-effectiveness, lack of availability, outdated equipment, and short lifespan. However, these claims regarding used industrial equipment and equipment auctions are, in many cases, inaccurate. Infinity Asset Solutions, a leading industrial auctioneer in Concord, Ontario, debunks these claims in this blog.

What Are Some Myths Around Used Industrial Equipment?

Cost-Effectiveness

One prevalent assumption about used industrial equipment is that it can cost more than new equipment in the long run because of unexpected repairs and restoration costs. This is a myth because used industrial equipment procured from a well-reputed industrial auction already takes the repairs into account when appraising them. Therefore, buyers are never charged more than the equipment’s worth, and its functioning is thoroughly checked.

Lack Of Availability

Industrial auctions may or may not have the specific used industrial equipment a buyer is looking for. While this is true in some cases, the auctioneers also often have a lot of similar used industrial equipment and parts to offer. Therefore, buyers are able not only to find alternatives, but might even find better equipment than the one they originally sought.

Outdated Equipment

Another misconception is that used industrial equipment can be outdated; therefore, buying it has no utility. However, the truth is that many machines are upgraded and retrofitted over time by their previous owners. Thus, they can function as well as modern equipment at a fraction of the cost.

Short Lifespan

Used industrial equipment is often associated with malfunctions; hence, there is a myth that it won’t last long. On the contrary, industrial equipment is typically auctioned off because the needs of the previous owners changed and having the equipment was no longer useful or feasible for them. This is why expensive industrial equipment is often bought used via reputable market channels such as industrial auctions.

Conclusion

In summary, the myths surrounding used industrial equipment are false. In truth, they offer an excellent alternative to buying equipment via retail, as the latter can be a huge investment.
Infinity Asset Solutions is a business liquidation company that specializes in industrial equipment auctions, including surplus equipment and used industrial equipment. For any inquiries, contact us today at 905-669-8893.

FAQs:

How to find quality used industrial equipment?

To buy high-quality used industrial equipment, enroll in quality industrial auctions online or located near you.

How to know if used industrial equipment is worth the price?

Auctioneers who offer used industrial equipment often share its history, repairs, features, and manuals, providing plenty of information to double-check its quality.