The machine industry is big business. Depending on what kind of machine is needed, it is not uncommon to spend six figures, if not more, on a single item for your company. It may be necessary to buy a brand new expensive machine from time to time, however, what if you need a fleet of machines for your operation? Alternatively, you may be a lone practitioner or a hobbyist who needs a sophisticated machine for personal projects. Putting your personal project on Hobby Machinist becomes infinitely easier when you don’t have to spend a fortune to acquire the machine.
Funding for new machinery could be an issue, especially if you don’t want to accumulate massive debt. It’s an issue of time as well. The amount of time put into research and discovery on a new machine does not happen overnight. It could take several weeks, if not longer, to have all of your ducks in a row for this type of major purchase. Most shoppers don’t have the luxury of extra time and money to be frivolous in these matters. Luckily, there is a simple and elegant solution to this type of problem: buying used machinery.
Most people know that when you purchase a new car, the value of that car instantly drops the moment you drive if off the dealership lot. Cars are mobile machines after all – and they can still be sold after 80,000 miles are racked up on the odometer. The same principle holds true for machine tools, lathes, press brakes and other items after they are purchased and run for hundreds of hours. Once your new machine is fired up and operational, that machine is unlikely to command a higher value if resold. This is a double edged sword to be sure. While the new machine investment is sometimes unavoidable, the opportunity to purchase a used machine is ever present and growing all the time. You will be able to see firsthand accounts of these stories on a forum like Chaski’s Home Machinist.
Used machinery is well suited to be resold in a variety of ways. One popular way to sell a used machine is via full service equipment auction. While recognizable names like Christie’s or Sotheby’s may deal in fine art, heirlooms and real estate, other companies like Cincinnati Industrial Auctioneers will put a specific focus on selling used machinery. HGR partners up with CIA – who works with BidSpotter – to run several machine auction events each year. Participating in a machine auction is super simple. It doesn’t involve much more than registering for an account, locating an auction and placing bids online. The auction will always have an inspection day if you need to spend some time with the item, or receive customer service information, before committing. The machine auction process may seem intimidating on the surface, but really, it’s not much different from buying an item from Ebay.
In addition to the auction model, a company such as HGR can help facilitate the transaction of selling used machines in a more traditional way. Our 12 Acre Public Showroom is open during regular business hours to browse thousands of used machines in our inventory. The benefits of buying used machinery extend beyond immediate monetary savings. Short term savings may seem like the best reason to purchase a used machine. However, the long term economic advantage is also worth noting. Saving a mere 10% of overhead costs can lead to tremendous positive changes in a company’s bottom line. When these savings are extended over several years it can lead to a tremendous increase in company profits. HGR is proud to help create a marketplace for selling used machinery that gives people (and machines) an extra opportunity to create more potential for less capital investment.
Check HGR’s website for more details on auctions, used machinery and special sales.