Want to Sell Your Used Machinery? These 5 Signs Will Tell You if It's the Right Time

While on the face of it, selling used machines seems easy, it can actually be an overwhelming task. Knowing when it’s the best time to sell your pre-owned machinery is important.

Your potential purchasers should know that your machine is in top condition, has been well maintained, and is ready for immediate use. You should know the machine's exact worth and factor the expense of getting it uninstalled from your premises and set up in the buyer’s facility into the price. You should also know the amount of the carrier charges.

Read on to learn how to identify the right time to sell your machine at a used machinery auction so that you can get a good price for it.

5 Signs It’s Time to Sell Your Used Machinery

1. Age and Years of Service

Age affects a machine as much as any other gadget. Over time, it loses its speed and efficiency or ceases to fulfill the needs of your business.

Most buyers will want to know the date of manufacture and the number of hours the machine has been put to use. Parts on older equipment become worn out and are difficult to replace. Also, older machines are slower and less accurate than newer models. If an older machine is still working well, it may be the perfect time to sell it and upgrade to another machine.

2. Condition and Maintenance of the Machine

The condition of the machine and its maintenance record will matter to you, as the owner, as well as to a potential buyer. A well-maintained machine won’t be very difficult to sell, and a proper record of upkeep will make it easier to convince a prospective buyer to close a deal. Before selling your machine, perform an exhaustive inspection and fix any minor issues so that the purchaser sees a fully functioning piece of equipment. It’s best to put your machine on the market while it’s still in excellent condition.

3. How Frequently the Machine Is Used

Changes in work patterns or activities and needs may affect how frequently you utilize a piece of used industrial machinery for sale. At times, a machine may be used every day for long hours, but after a project is finished, it might sit unused for some time. It might even lie neglected in your facility for quite a long time.

If you realize that your machine has been sitting idle for a couple of months, it might be a good idea to reconsider your need for the equipment. If the machine doesn't seem to have a specific use, it’s time to evaluate the worth of the machine and whether it would be better utilized elsewhere. You might also consider the best use for the space it has been occupying.

4. Favorable Economic Climate

The condition of the economy is also an essential factor in determining the ideal time to sell your used equipment. Since the machine market is dynamic and keeps fluctuating, it will directly influence the worth of your machine, as well as its salability. If you have a machine that you've been thinking of selling, exchanging, or redesigning, the best time to act is when there is an ideal market.

5. When It Costs Too Much to Keep the Machine Running

If you feel that keeping your used equipment isn’t profitable for you anymore, it might be an ideal time to sell it. Usually, the maintenance costs for older machines go up as parts and mechanics who will work on the machine become harder to find. In a situation where the machine’s input is greater than its output, it might not be useful for your factory anymore.

Conclusion

Whether you decide to sell your used equipment on your own or through a used machinery auction, you will need to know the machine’s value and how to leverage it. When you sell used machinery, you will need to have a thorough understanding of what that machinery does, how it works, and how it has been maintained so that you can answer questions when speaking with potential buyers.

You can enlist the help of a sales rep who is an expert in the machine market and has a huge network of contacts, or you can do the work of putting your machine up for auction yourself.