Factors that Impact the Value of Used Industrial Equipment

Many industries depend on industrial equipment for their daily operations. Businesses that have been in the industry for years often look at upgrading their used industrial equipment with new machinery. Some businesses resort to scrapping the old machinery, while some take the route of selling by Auction. Choosing the auction route to sell used and/or surplus equipment comes with several benefits, including recovering company capital. However, it is important to understand the fair market value of the equipment in order to run a successful auction.

 

Components that influence the value of used industrial equipment

Brand of the Equipment

There are numerous equipment manufacturers out there but some dominate the market as their reputation precedes them. If the used industrial equipment that you plan on selling via auction has been manufactured by well-known companies, you can expect people to be willing to pay more than they would for lesser-known off-brands. Having information on manufacturers handy will prove useful while hosting an auction.

Model and Features

We live in an era in which almost everything comes in several sizes, models and capacities. The varying models each come with their set of features & specifications, which further influence the value of the equipment.

Condition of the Equipment

One of the biggest factors which impacts the value of used industrial equipment is its age and condition. It’s not only the vintage or make of the machinery that will determine its market value, but also its overall condition. The operational hours of each asset, wear and tear over the years, and its upkeep will largely contribute to its selling price. While it’s true that equipment value depreciates with age, well-maintained equipment can still fetch better than market value.

Hire A Reliable Industrial Auction Company

If you need help to host an auction, you should consider working with industry experts such as Infinity Asset Solutions. As a leading industrial auction firm, Infinity is committed to helping businesses sell surplus and used industrial equipment. Contact us today to learn more about how we can help you.