Tips for Purchasing and Selling Used Engineering Equipment
With development of technology, selling and buying of used engineering equipment has been made easy, however, some things need to be put into consideration to ensure a successful transaction. The following are tips for purchasing and selling used engineering equipment.
Before you purchase a used engineering equipment, it is important to do thorough research about it. For instance, inquire about the age of the product and make sure that it is not very old to serve its purpose. If you are buying from a physical store, it is advisable that you inspect it in order to ensure that it is in good working condition. Also, it is advisable to test-run the equipment before shipment in order to find out if it is in good working condition.
The next buying tip is to do some research on the seller before you shop for their used products. Inquire if the company has operated on different names in the past. Be vigilant of companies that keep changing their names as they may be scams. Also, it is a red flag if they keep changing their location since it shows that they are not well established. Besides, you want to work with a company that has its own warehouse and stocks its equipment as this indicates that they are the main sellers and you won’t have to deal with middlemen.
A good used equipment seller will furnish you with references that you can contact and hear about their experiences. This will help you make an informed decision on whether to purchase the used equipment from them.
Review their warranty and ensure that the seller is willing to assist you when you have issues with the equipment. Besides, it is a good sign if they have a return policy for their products.
The first selling tip is to ensure that you clean your equipment because first impression matters. An equipment that is not in the best selling condition is unlikely to attract potential buyers as it shows that it is not well maintained. If you are selling online, consider taking quality photos of the equipment.
Do some research on the equipment that you are selling so that you can be equipped with relevant information about it. Research on its model, type, age, manufacturer and serial number.
Establish a fair price for the used equipment you are looking to sell. You can consult with an appraiser or do some research on trade magazines, and auctions of similar products in order to determine the right selling price.
Handle the machinery with care when removing it from your plant. Otherwise, you may cause damage and this can reduce your sales cost as well as require more money to repair.
The final and most important tip for selling your used engineering equipment is to have all relevant documents at hand. The equipment’s manual, warranties, and print should be well kept as they will help speed up the resale process.
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