Industrial machinery can be a hefty investment, so when it becomes time to sell, you might not know the value of the equipment that you have, or how to discover it.
It’s important to know if it held its value, and how to appraise it for a future sale.
Read more to find out what factors to consider when determining the value of your equipment.
Read Industry Reports
It’s important to understand the market that you would like to be selling in when evaluating your equipment’s worth. Checking industry reports can keep you abreast of changes, market fluctuations, and trends.
Does it appear that the product you are wanting to sell is a part of current or upcoming market trend? That could determine if the machinery is more valuable. For example, a robot that might help with automation could be directly affected by more companies moving towards full automation of their facilities. Factoring in these trends and reports is key when estimating your equipment’s value.
Evaluate the Machine Itself
One of the more important elements of finding the value of your industrial equipment is evaluating the machine itself. How old is the machine? If it’s older, does it require frequent repairs or is it still in pretty good condition?
Another factor to consider is how custom the machine might be. If something was custom engineered for your facility, it might hold quite a lot of value for you, but may hold less for another business that needs it for a different task or situation.
Furthermore, is the machine still in working order? When getting machines and equipment appraised, use a multimeter to find any faulty areas that might be causing resistance or causing a machine to not function properly.
If the machine is no longer useful, the individual working parts can still be used for many things. An experienced buyer can help you get a fair price out of industrial equipment, whether working or not.
Browse the Market
Taking a look into the market, check and see what might already be in existence in regards to similar products. For example, if you are selling a specific CNC machine, check to see what local markets have in stock, and if there are similar or comparable brands already listed.
If the current market is flooded with similar and like products, the value of your industrial equipment might be less. On the other hand, if there is a lack of your industrial equipment in the market, and demand is high, the value of your product could increase.
HGR Can Help
HGR takes the guesswork out of selling a machine. We purchase industrial surplus from all over North America, from single pieces to entire plants.
We make things easy by connecting you with a buyer in your region. That’s your buyer, who will be with you every step of the way. They will visit your facility, on your schedule, and inspect the equipment you are interested in selling, taking over the grunt work from you.
From there, they will make a list of surplus, and write up a proposal in the form of a purchase order. When you accept the offer, HGR will pay you within 24 hours, as well as arrange pick-up and transport.
Learn more about selling to HGR in the video below, or here on our “How-to-Sell” page.