Industrial machinery and equipment doesn’t last forever, and eventually will need to be retired or replaced, and sold.
Do you know what to look for when considering selling your equipment?
Read more to find out five tell-tale signs that you should sell your equipment.
5 Signs Your Need to Sell Your Industrial Equipment
Repair costs are too high
Eventually, the equipment you have had for a while, even with regular maintenance and upkeep, will require a large repair issue. These repairs can be expensive, and it’s important to weigh the cost with selling. Knowing when the cost to fix is becoming too much is key to knowing when you need to sell.
Our sales team can give you a reliable quote based on an evaluation of the machine. We buy all equipment, regardless of the condition, so if it’s something you are considering, go ahead and reach out to our team for more information.
Breakdowns happen often
Replacing parts is required as equipment ages, with machinery and fixtures wearing down over time. If this is happening with more frequency, it’s time to examine the cost you are putting in for upkeep versus the cost for a replacement.
Selling to a company like HGR can put money back in your pocket, and help fund a replacement for that initial piece of equipment. We carry a wide selection of industrial surplus including used machines and robots, and they are a great resource when looking to replace your decommissioned machine.
Insurance costs are rising
Running a business with expensive machines and equipment often times requires insurance. Insurance can act as a great indicator when you are considering selling. When your premiums start to increase and rise, the insurance company has evaluated a higher risk due to age or frequent repairs of your equipment.
If your insurance rates have risen, it’s a good indicator of a need to sell. Additionally, putting that money made from the sale towards a newer piece of equipment can lower your overall insurance cost. Insurance companies often will lower premiums based on updated safety measures in newer machines.
Safety Concerns
The number one priority of any company should be the safety of its employees and staff. If a piece of equipment is becoming a health or safety hazard, the machine should be taken off of the floor and sold. HGR will buy all equipment, no matter the state, from businesses, so reach out to your rep to sell anything that may need to be taken out of commission.
Remember, safety hazards may not be as visible as worn belts or sparks. Look for signs such as struggling at start-up, or other red flags that might indicate something potentially dangerous or hazardous.
The market is good for selling
Taking a look at the current market, and the supply and demand of similar products can indicate a good or bad time to sell. But if there is a demand for your equipment, and selling has been something you have considered, the market could be indicating the ideal time to sell.
Check local markets to see what is in stock before you sell, and cross-check the prices of comparable brands for a more concrete idea.
HGR will buy your equipment
HGR will buy all of the equipment you are ready to sell, regardless of condition. We buy industrial machines and equipment from across the United States.
It couldn’t be easier with HGR either. We will connect you with a buyer in your area, who will be with you every step of the way. From a facility visit to an equipment inspection, we will take care of it all.
We want to write you a check, and as soon as you accept the proposal, we will within 24 hours! Even arranging pick up and shipping!
Learn more about selling to HGR in the video below, or here on our “How-to-Sell” page.