3 Things To Know About Heavy Equipment Auctioneers

3 Things To Know About Heavy Equipment Auctioneers

In the world of buying and selling machinery and other business assets, heavy equipment auctioneers play a vital role. When a company is downsizing or closing entirely, these auctions can provide a needed influx of capital. Those hoping to start or expand a business can find the equipment they need without breaking the bank. It’s a win-win for everyone involved. 

Before you dive headfirst into the world of heavy equipment auctions, it’s important to understand a few things. You can get top dollar for your property or find significant purchase savings, but only if you understand how the process works. Heavy equipment auctioneers occupy a complex world, but as long as you know the following facts, you’ll be able to navigate it easily. 

1. It’s Not Just “Going, Going, Gone!”

It’s easy to envision auctions of heavy equipment as a risky eBay purchase. This creates a fear that a person might purchase a damaged item and then have no recourse. In reality, heavy equipment auctioneers often take a more hands-on approach. There are a number of additional elements that make heavy equipment auctions unique. Consider the major elements of IRS Auction

  • Experienced auctioneers: All auctioneers are familiar with industrial equipment, and this knowledge allows them to keep both buyers and sellers fully informed. 
  • Evaluations: Evaluators with decades of experience examine machinery and other assets to determine their fair market price.
  • Marketing and advertising: A database of thousands of established buyers provide all listed items with expansive marketing they’d otherwise not receive. 
  • Repossessions: Buyers looking for great prices on used equipment have access to repossessed items that were recently recovered.

While some heavy equipment auctioneers take a hands-off approach, machine shop auctioneering firms like IRS Auction involve themselves in order to benefit buyers and sellers alike. Everyone deserves to know they’re getting a fair price and a good deal. Make sure you research an auctioneer to ensure you’re getting the most bang for your buck. 

2. Understand Heavy Equipment Auctioneer Costs

Heavy equipment buyers at auctions often feel like they’ve gotten a deal too good to be true. This could easily be the case. Far too often, though, the buyer failed to account for all involved costs. Consider the following costs:

  • Buyer’s premium: Additional fee on top of the final bid price that goes to the auction house. 
  • Unexpected taxes: Local and state taxes may apply to purchased items.

Buyers and sellers won’t always encounter these costs, so it’s important to understand an auction’s policies before diving in. 

Heavy Equipment Auctions Have Moved Online
Most Auctions Are Moving Online

3. Online Heavy Equipment Auctions

When the COVID-19 virus spread across the world, no industry was immune to its effects. The industries that excelled during this time turned to technology. This is exactly what we saw with heavy equipment auctioneers. Many companies that ran auctions moved to online platforms. This resulted in an influx of new buyers and higher profits for sellers

Sellers also found savings in this new digital world because they were no longer paying overhead costs for in-person auctions. Everyone benefited when heavy equipment auctioneers shifted to the digital realm. If you’re just getting started in buying or selling machinery and other business assets, online platforms are a great place to learn the ropes. 

Reach Out to Heavy Equipment Auctioneers Today

Whether you’re downsizing, closing up shop, or looking to expand your business, heavy equipment auctions offer a real chance at success. Now that you understand how these events work, you can ensure you’re prepared for any potential complications. Since many heavy equipment auctioneers in Texas, Florida and the US are now online, you can jump into this world from the comfort of your own home.

Industrial Auctioneers in Dallas/Fort Worth Texas

Visit us today at IRS Auction to see how simple it can be to buy and sell machinery, real estate, and other assets. Contact us if you have questions! 

Learn More:

7 Reasons To Attend Industrial Auctions

How Have Machinery Auctioneers Adapted To The COVID-19 Pandemic?

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