5 Easy Tips to Get the Best Price for Your Used Equipment
February 5, 2015
With today’s economy, more and more businesses are looking to the used equipment market for their industrial needs. That industrial air compressor or dryer wants to work, and there is a company out there that wants and needs it. Your job is to introduce the two of them. Here are some simple ideas to help you get the job done.
Tip #1 – Getting the Unit Ready for Sale
We understand selling a 5 or 10 year old industrial air compressor might not require the same type of detailing as a used Porche, but you should still take steps to make the best impression with your equipment.
- Have a mechanic or technician check it out thoroughly. Be sure it is operating properly. If it is a towable unit, check the tires and hitch mechanism.
- Clean and polish the machine, make it look new again. Many manufacturers offer touch up paint to help it stand out. Gather together any manuals you may have.
- Make copies of maintenance records if available. A well maintained unit will top a buyers list.
- If you have extra parts or general maintenance items, box them up and include them in the sale. An extra bonus like that will get the attention of the buyer.
Tip #2 – A Picture is Worth a Thousand Words
Pictures are key. On average, units with photos receive 3-4 times as many inquiries as those that do not. If possible take 3-5 pictures at different angles. A digital camera is best, but you can take regular photos and have them scanned if you do not have a digital camera. If you have your photos developed, most photo finishing shops can save the pictures in a digital format on a compact disc.
Next, write down the specs of the machine, including:
- Make and Model
- Hours – How many hours logged on the meter
Air Compressor Ads offers a simple form to enter these details and feature them right within your listing.
Tip #3 – The Price is Right
Ask yourself these questions:
- What is the fastest method to sell this unit?
- What is the market value?
- How much are others asking for similar items?
- How much do you have invested in the unit?
You want to price your item competitively to sell quickly. It’s also important to make sure and include the price in your ad. Ads without prices listed lead shoppers to believe it’s too expensive. If you want to let shoppers know that pricing is negotiable, you can list your online price and say, “call for best pricing” or “call for most current price.”
Tip #4 – Put Your Used Air Compressor in Front of People Looking for Them
How are you going to let buyers know what you have for sale?
Your own website is a good start as long as you have the staff to keep it current, however most individual dealer sites don’t receive a very large amount of traffic.
- Trade Magazines – This can be costly and very few people buy equipment from a classified ad, thanks to the World Wide Web.
- Auctions – EBay is the most popular, but you have a certain market and there are many sites customized to meet the needs of your Industry. Be sure to have your photos and all details ready before you list the item. Shipping methods and costs should be calculated ahead of time.
- Classifieds – List with an online classified site like ours, aircompressorads.com
Listing with us will get you maximum exposure with internet search engines. Our professional website is designed to be at the top of the list of searches done with Google, Yahoo, Bing. Listing with us also means that you are in control of the sale. Customers will contact you directly for more information.
Our listing process is very simple, fill in the blanks of our sample form and upload your picture. Don’t worry if you have never done this before, we will help you through the process. Interested in learning more? Contact us!
Tip #5 – Close the Sale
- When leads come in to inquire about your equipment, make sure you answer them quickly and professionally.
- You and the Buyer have agreed on all terms, including who pays for shipping.
- Check with your state on the sale of used equipment, some states require collecting sales tax on used equipment.
- It is a good idea to have your attorney draw up a bill of sale if the purchase amount is large.
During good times and bad there will always be buyers who wish to save money, by purchasing well-maintained used equipment over new. It’s a great way to save money for the buyer and can be an excellent revenue stream for the seller.