Getting Started

SELLING IS HARD WORK if you are not prepared to work at selling your surplus machinery we would suggest turning the task over to a reputable broker.

DON’T ASSIGN THE WORK to your purchasing agent or manufacturing manager or some other overburdened individual in your organization who has limited selling skills or experience, or worse, lacks the time necessary to deal with the additional work load.

PRICE AND AVAILABILITY are the main advantages to buyers of surplus machinery. Be certain to establish in your mind what price you wish to ask for the machinery that you wish to sell and also a firm date when you are prepared to release the machinery. If you are not sure of how to price your surplus machinery contact a reputable machinery broker.

DO NOT OVERPRICE your surplus machinery. This is the quickest way of discouraging potential buyers from taking the time and going to the expense of traveling to your location to inspect your offering.

SURPLUS MACHINERY BUYERS are like most other machinery buyers in that they budget for their prospective purchases. If your pricing is beyond the reach or expectations of prospective buyers you will not sell the surplus machinery that you are offering.

BE MARKET ORIENTED, your current book value for machinery that you wish to sell has very little relationship to what it might actually sell for in the used equipment marketplace. Don’t guess at the value of the equipment that you wish to market, check with a reputable broker to ascertain what the actual market value or range is. No matter how new or well kept your particular used equipment may be it will tend to sell at a price that is within the established range for that particular machine or group of machinery.

BE PREPARED, the old adage that first impressions are lasting impressions, is as true in the sale of used equipment as it is in the sale of any other product. Take the time to clean and paint the equipment that you are offering for sale. While many owners of surplus equipment think that this is unnecessary and costly, we think that it is extremely important and cost effective.

Other preparations which are necessary to a successful sale include the assembly of a good written description, photographs, video tapes, side elevation drawings, prints and manuals relating to the equipment being offered. These are invaluable sale tools and we would be remiss if we did not remind you that "a picture is worth a thousand words".

Dealing with Prospective Buyers

THE FIRST ORDER OF BUSINESS is to get an interested party to visit and inspect the equipment that you have for sale. A visit and inspection will be your best indication of legitimate interest in your surplus equipment. While not all visitors, (or lookers), are buyers, the fact that someone has agreed to take the time and bear the expense of a visit is a very positive sign.

Since most prospective buyers will be traveling some distance, and at their own expense, it is advisable not to restrict the time or date of the visit more than is absolutely necessary. We have seen some cases where the seller has postponed a buyer’s visit only to loose the sale to a competitive offering that was less restrictive.

THE BUYER IS NOT THE ENEMY: The buyer is a customer and should be treated accordingly and with the respect and courtesy accorded to any of your other customers. Do not withhold requested information, photographs, videos, drawings, etc.

If you have plant safety or security regulations that you routinely wave for other visiting customers we would suggest that you consider waving them for customers who wish to inspect your surplus equipment offerings.

DO NOT "OVERSELL" YOUR USED EQUIPMENT to prospective buyers during their visits and inspections at your plant facility. There is nothing worse than any overanxious equipment owner to scare off a prospective buyer. One who hovers nearby and insists on showing every feature of the machine being offered. The vast majority of used equipment buyers are competent and experienced in their field of endeavor and do not require, or want, this type of information or attention.

Remember, if you are not an experienced sales person, you are as likely to "talk yourself out of a sale" as you are to talk yourself into one.

WHAT TO DO AND SAY DURING A VISIT BY A PROSPECTIVE BUYER: We suggest to all of our clients that they be friendly and simply endeavor to answer all of the prospective buyer’s questions as honestly and openly as possible. If the most honest response is "I don’t know", this is what should be stated along with an indication that you will try to obtain and provide the information requested at a later date.

We also suggest that all drawings, prints and sample materials, that are available, be offered for the buyer’s inspection. With the exception of abundant sample material, original drawings or prints should not be turned over to a prospective buyer unless he actually purchases the equipment. Drawings and prints have a way of not being returned and are a vital part of any sales effort.

PRICE AND TERMS NEGOTIATION: If you have planned and prepared well you may receive an offer to purchase the equipment that you have offered. The keys to successful negotiation of price and terms are objectivity, courtesy, tact and FLEXIBILITY. The question the seller must ask at this point in the transaction is not so much how can I sell this machine at my asking price but rather what will it take to sell this machine to this particular buyer. FLEXIBILITY!!

We think this last item, negotiation and the potential for lack of FLEXIBILITY on the part of the buyer or seller is where most sales are lost. To minimize this risk of failure we strongly suggest that you engage a reputable broker. At a minimum the broker will tend to be more objective and FLEXIBLE in his thinking and may be able to suggest acceptable compromise positions to the buyer and seller.