3 Thoughts Before Selling Your Old Machinery

guy using drill press

3 Thoughts Before Selling Your Machinery

Are you thinking of selling your used machines and equipment? There could have been multiple factors that have made you come to this decision. The bottom line tends to be the same for all scenarios, however. This machinery has to go. So, what are a few thoughts before you take that step and make the call.  

  1. Will you ever need this piece again?  Look to the past toes how often have you used this machine and what was the machines most common use? Do you already have a replacement for it? Nothing could be worse than missing an opportunity because you may have overlooked something the old machine did to high efficiency. If it has been sitting and collecting dust then you are losing value. 
  2. The age and condition. Everything loses its value with time, wear, and tear. You should think about what you still need from this machine. Are you looking to recover a portion of the cost of the machine? Then, sell it earlier with life left and in working order to maintain more value. Is the machine no longer working? There is still some value in it, to someone. You can try to sell it yourself or speak to a company like HGR that buys used machinery. 
  3. The market value. How much in demand is your machine? It may be worth a little research to look at seasonal trends on machinery sales to try and maximize your value by selling it at the high point. The ebb and flow of the market will dictate the timing. Keep in mind, the longer you wait, the more your machinery will depreciate.

So, now that you’ve made up your mind and you want to sell, HGR has a very easy process of doing this. Reach out to our buyer hotline, hgrsh@hgrinc.com, or visit our “Sell Your Surplus” page, click on the blue button,  and provide a few details. One of our reps will reach out to you and set up a visit from one of our buyers to inspect the equipment and make an offer. Then we take it away. It really is that simple. 

5 Thoughts Before Buying Used Equipment

5 Thoughts Before Buying Used Machinery

Buying used machinery can be an excellent way to grow your business and stay within budget. You could be searching for high-end CNC equipment or a consumer grade drill press, and the chances are, you would save money buying used. The first part of buying used is knowing where to look. Obviously, I would recommend HGR Industrial Surplus given the large inventory and variety of equipment. In the end, wherever you choose, there a few things to keep in mind when buying used machinery. 

  1. Reasoning – What are you looking for in a used machine? Do you want to get a great deal on a working machine without any issues that runs for life without a need for maintenance? Flip another quarter in the wishing well, and throw me in one too while you’re at it. The truth is, used machinery doesn’t come with all of those guarantees and often needs some sort of work done to it before it is in optimal working condition. So, if you have the resources or knowledge to do so, buying used may be an option for you. Do you need to see it in working condition before you buy it? Maybe try an auction on our homepage.  
  2. Financing – Not all machinery dealers offer financing and banks may be hesitant to loan money for used machinery. You may have to come out of pocket for the full cost of the machine and the repairs. While this will most likely benefit you in the long run, you have to have the resources available before making that decision. 
  3. Component Usage Wear – It is important to know what you are looking and where to look when buying a used machine. You may use one of these machines daily and know exactly where to look. For the rest of us, we aren’t hopeless. Luckily smart phones have given us the ability to search the make and model and which components wear out or are frequently damaged. While the damage may not be a deal breaker, it may give you leverage on the price when haggling, so make sure to take a quick search while inspecting.  
  4. Know the Value – Every company is out to make money, so don’t be surprised if the prices aren’t rock bottom steals. These companies have to purchase the machines and then have them shipped into a facility to sit and take up floor space waiting to be sold. There is a cost that builds with each machine. With that said, a little research can give you some buying power by knowing what the machine is worth. It is hard to argue prices, if it is at market value. Knowing what the machine is worth will ensure you don’t overpay and get a fair deal. 
  5. Kill the Deal – Keep in mind that when you go to see a machine in person, you may see things you didn’t in the photos, so make sure you can have someone inspect it, if possible. That person, or yourself, should have “Deal Killers” in mind.  Things that you have decided will detour you from this purchase. It may be specific damage you see, overall condition, storage condition, or a complex repair that is needed. The inner voice in your head says it’s a good deal and I can fix this, but will you ever do it? Know when to say when and decide the tipping point to when this machine is no longer a value. 

Interested in used machinery? See our new arrivals here!

Maybe an auction? Take a look at a few auctions HGR is currently marketing. 

8-14-19 Automotive Stamping Facility Auction

 

By Joseph Powell

5 Reasons to Buy Used Equipment from an Auction

Auctions at HGR
We already know who has the largest industrial surplus showroom in the galaxy, but did you know that HGR Industrial Surplus partners up with Cincinnati Industrial Auctioneers to market auctions? These auctions are great opportunities to get working machinery to help support your current business with little to no downtime. Do you want 5 more reasons to purchase machinery from an auction? Consider this list the next time you are ready to purchase equipment.

1.Industry Specific– The majority of auctions are very specific in what the have to offer. While they offer variety in brands, makes and models, they may also have those specialty items only someone in your industry may need. There may be a lathe, drill press, or mill set up with your business in mind. This is a great opportunity to expand your business and grow at a lower cost.
2. Testing the Machine – Reputable auction companies allow potential buyers to inspect the machinery prior to being auctioned. This machinery is typically in current working environment and under power, allowing buyers to see the working condition of the item. This will be valuable information to have before you place your bid, and it eases the tension on bidding on the item, given that you have seen it in working condition. Since you are getting this piece of equipment directly from the user, it most likely will have some maintenance records with it to give you insight into the machines history.
3. Easy to Bid – Maybe the idea of fighting in a room full of people waving your paddle around, while an auctioneer rattles off numbers at an insane speed seems a bit intimidating. I agree, but most auctions currently allow you to bid online and save yourself from being inside of the scrum. After you see the equipment and inspect it, you can sit at home with a cup of coffee in one hand and your dog curled up at your feet while you bid away effortlessly.
4. Titled Equipment – When you make a large purchase like machinery, getting a title grants you the safety needed to make the purchase without question. This is one of the benefits from purchasing the machinery directly from the user.
5. Financing – Not all auctions offer financing, but those that do understand machinery and the true value of it. A bank may not understand the cost of used machinery or the value and is less likely to provide a loan for it. Auction companies that offer financing will allow you to grow your business without emptying the accounts to do so.

Take a look at a few auctions HGR is currently marketing.

8-7-19 Coil Springs Manufacturer
8-14-19 Automotive Stamping Facility Auction

Do you have any interest in auctioning off your surplus equipment and supplies? Make sure you contact JMiller@hgrinc.com to see if an auction would be something of interest to you or your businees.

courtesy of Joseph Powell