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Helpful Tips When Buying Used Industrial Equipment at Auctions

August 19, 2020

Purchasing used industrial equipment has many great benefits and can save you a significant amount of money. However, there are still various businesses that are doubtful about it. This is primarily because of some of the risks that are associated with buying used machines. If you put the time and consideration into examining the machinery, there are many pleasant surprises you can find during an industrial machinery auction.


Although one of the most essential things to consider during an auction is the condition of the equipment being sold, here are other essential tips to take into account when joining in any auction:


Authorized To Sell 

One of the most vital things to make sure of is that the auction house is entitled to sell the used industrial equipment you want to dispose of or want to buy. The personnel should also be able to produce the necessary documentation of whether the machine is legally sellable. This is imperative on the part of the buyer, to ensure that the seller owns the machine and is honest when claiming the details about its condition. 


Thorough Inspection of the Machinery

Before making any bid on any item at an auction, always check it first by fully inspecting both its exterior and interior parts. Images are often not sufficient enough to show the real condition of the machine, especially if it’s used equipment. So, always make sure that you take the time to personally inspect as well as turn it on to determine if the used industrial equipment is really in good working condition.


Secure Proof Of Payment

One important factor that you shouldn’t forget is proof of payment. Ensure that your payment is properly documented and a copy is given to you. While it’s very rare to occur after you have fully inspected the item, some issues may still arise once the product has been delivered. Having proof of payment for the item bought is an assurance that you can address any issues that may occur afterwards or have it returned or refunded. 


If you have used equipment you want to sell or are looking for specific items, Infinity Assets can help you today. Give us a call to learn more. 


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