If you’re trying to get rid of your used equipment, you want to do it as quickly and efficiently as possible, all while getting as much money as you can in return. Quickly selling the equipment you no longer need is especially important when the maintenance costs are high, and paying for something you no longer need is a waste of your resources.
With the right frame of mind and the correct strategy, selling your used equipment can truly be a breeze. Ideally, you should be hiring an expert to guide you through the process and come up with a killer strategy, but if your budget does not allow for it, learning a couple of tricks on your own is certainly doable, and by reading today’s article, you’ll be one step closer to mastering the art of selling.
Focus on selling to a targeted audience
What’s the use of trying to sell a piece of equipment to someone who doesn’t need it or simply isn’t interested in the first place? Instead, you should be focusing your efforts to reach the type of buyers who are going to be receptive to your offer. Thanks to moderns advertising channels like Adwords and Facebook, this is now much easier to pull off compared to the past. Whenever in doubt, try to remember this golden rule: marketing to 10 targeted potential buyers is much more powerful than marketing to 1000 non-targeted ones.
Know what your equipment is worth
If you don’t know what your equipment is worth, how can you know for sure that others won’t try to take advantage of your lack of knowledge? One of the fastest ways to get educated is to open up a search engine of your choice and check how much a given piece of equipment is going for online. However, don’t just look at the first listing you see and write down the price tag – go through at least a dozen of them or so. Alternatively, you can also hire an expert do it for you, which comes in handy when you’re trying to sell equipment that’s no longer in production.
Make sure your listing is as attractive as possible
If you’re selling through an auction platform like Equify or something similar, you need to make sure that your listing stands out. How do you do that, you might ask? It’s quite simple and straightforward; first of all, you need to make sure to include good photos. They should show the item you’re trying to sell from various different angles and they should be of high quality. Include the technical sheets and certification if deemed necessary. Give them the option of on-site inspection; that way, they will feel at ease when buying from you, knowing the item you’re going to sell them is in working condition.
Refurbish your equipment prior to selling it
Did you know that you can effectively increase an item’s value if you refurbish it prior to selling? Some auction sites have a special category for these types of items. In terms of quality and value, they fall somewhere between ‘new’ and ‘used’. But the thing is, by their very nature, they attract more buyers. Even though the item is used in technical terms, it’s practically like new and in working condition (and less likely to fail or break down). Even though refurbishing is an investment, it’s usually well worth the trouble and you can really expect to be compensated well for your efforts.
Try to look for buyers through other channels
If you’re trying to sell some used equipment you know other business owners could easily use in their own business, why not do some B2B marketing? Without being too pushy, you could try to get in touch with them by calling them, sending them an email about it, or by using their online contact form. If you can’t be bothered with doing all of this yourself, you can also ask one of your employees to do it for you or outsource it to a freelancer.
Focus on building a relationship with your clients
This tactic is a bit advanced and not applicable until after you’ve successfully made the sale, but it’s worth mentioning nonetheless. Basically, if you know that you’re going to need to buy a new piece of equipment in the future, and if the cycle is going to repeat itself a couple of years down the road, it makes sense to stay in touch with the buyer. The reason being is that they may be looking for a provider of used equipment in a couple of years as well. Essentially, you’re both upgrading the equipment every once in a while, the only difference is that you’re buying new and they’re buying second-hand. Again, this strategy may not be applicable to your particular situation or needs, but in case it is, it’s a powerful tool in your arsenal.
Offer your knowledge and support to the buyer
Yes, your time is precious, and so is your knowledge. But think of it this way – would it not make sense to offer these things as a bonus so the buyer will have an easier time trying to figure it all out, allowing you to close the deal much faster? You can meet up for an hour or so and during the meeting, you can take them through the controls, teach them all they need to know about maintenance of the equipment and so forth. If you’re clever, you could also record a video explaining how to operate a piece of machinery, or be willing to offer an hour’s worth of free advice through a Skype session or something similar. This is a powerful way to convince someone to buy from you instead of the competition.
Conclusion
Selling the used equipment, you no longer need is a good way to get some money flowing to your bank account. Even though making a sale won’t be easy and will take a little bit of time and effort on your part, by using the strategies we’ve discussed today, you’ll be equipped with the kind of knowledge you need to liquidate your assets. It could take a day or it could take months, but by remaining patient and utilizing the knowledge you’ve gained, finding a buyer will only be a matter of time.
