Four Key Things To Address Before Bidding For Heavy Equipment At An Auction
Posted on: 26 November 2014
If your business requires you to use heavy equipment, you are likely familiar with the fact that this type of equipment can be very expensive. Renting the equipment needed may be sensible for start-up companies, but it makes sense to own your own equipment at some point. Purchasing new equipment is not ideal for all budgets, and this is why it makes sense to consider buying the equipment you need from an auction. Read on to discover some key things you need to keep in mind when you buy heavy equipment from auctions.
Technology
One reason that some equipment may be at the auction could be due to it being outdated. You may land what looks like a great buy at an auction, but if the technology in the equipment is outdated, you may have problems integrating it with equipment you currently own, lease or rent. Most auctions allow people to inspect the items that are set to be sold at the auction. Use this as a chance to determine which items are worth bidding on.
Price and Age
When people go to auctions, they sometimes get into bidding wars. Ensure you set a hard figure on what you are willing to pay for each piece of equipment you are interested in. Use your smartphone and other devices to your advantage to check what the items are worth. The last thing you should want to do is pay more for something than it is worth.
The age of the equipment will affect its estimated worth. You should also check for damages. This type of equipment is built to withstand rough handling, but it can still have damages. Some of these damages may even need to be fixed before you can safely use the equipment. You should factor in the cost of the repairs during your bid limitations.
Check the Unseen
Ensure that you check portions of the equipment that cannot be seen too. This may be where you discover that the equipment has not been properly maintained. you may see enough damage to belts, hoses and other parts that make you decide not to proceed with bidding. These parts are not usually visible to the naked eye. If you do not know how to determine where misuse is evident, take a person who repairs heavy equipment with you to the auction site.
Advance Planning for Transporting
One of the biggest hurdles you will face is getting the equipment from the auction site to your delivery destination. Some auctions may offer deliveries for an extra fee, but they are not required to do so. Heavy equipment moving services can be used as a resource for safely transporting the equipment you purchase from the auction.
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