IronPlanet Blog

Selling used equipment online through IronPlanet

Posted by IronPlanet on Jan 1, 2012 5:21:00 AM

Those in the construction and agricultural industries know that much of their livelihood relies on the equipment that they use. Whether it's a construction company that needs a specific vehicle for a certain type of job or a farmer who wants to maximize their crop planting and harvesting, equipment is certainly critical to running a successful business.

That being said, there are times when a vehicle or other piece of equipment outlives its usefulness. Perhaps it was only useful on certain types of jobs that aren't as plentiful anymore, or maybe it's just time to upgrade to something newer. One mistake that many make is not getting the maximum profit on their used construction equipment and agricultural equipment. Some might leave their vehicles languishing in a warehouse rather than liquidating them for the best possible price.

When it comes time to sell used equipment, it can be difficult to line up a buyer. The physical limitations of dealing with heavy machinery mean that most potential buyers will probably be local, and this limits how much an owner can get for their equipment. This is one of the many reasons that online auction sites like IronPlanet are becoming popular among those who need to liquidate their equipment.

IronPlanet works with sellers to help them get the best possible price for their equipment. This is achieved in a number of ways. For starters, selling costs on IronPlanet are 6 to 11 percent cheaper than the industry average. One of the big reasons for this is that the owner does not need to worry about transportation whatsoever - there's no physical site to go to.

Another big advantage of IronPlanet is its global reach. Owners don't have to limit their potential buyers to people who live within driving distance. Over the years, IronPlanet has handled more than $2 billion worth of auctions and currently has more than 600,000 registered users. The average auction on IronPlanet attracts 16 bids, and the userbase is global. That means buyers are assured that their equipment will be seen by a diverse and large group of people, which is helpful for getting the best possible price.

What really sets IronPlanet apart is its IronClad Assurance system. Before your auction begins, the equipment will be inspected by IronPlanet, which then issues a detailed report. The report may include "make-ready" suggestions, such as minor repairs that could make the product a bit more valuable. Once everything's settled and the equipment is ready to be sold, the buyer can see the report when they go to bid.

IronClad Assurance is a proven system that works to instill confidence in the buyer. That's why 75 percent of the buyers on IronPlanet are repeat buyers. Those who have bought from the site in the past believe in the value of getting a fully-detailed report with the equipment that they buy, and this results in better prices for the seller. Simply put, a potential shopper is not going to be willing to bid nearly as much if they have questions about the integrity of the site or the product. The IronClad Assurance guarantee ensures that the buyer knows exactly what they're getting, allowing them to bid up to their maximum price.

IronPlanet also provides numerous ways to sell a vehicle or piece of equipment online. The site's Featured Auctions occur weekly, where items are sold with no reserve price. Those who would rather have a reserve set on their item can instead list in the Daily Marketplace, which can have time limits set by the user, along with Win It Now prices. There's even the option for private auctions if one so chooses.

With these numerous advantages in mind, it's easy to see why so many are turning to IronPlanet when it comes to selling used agricultural equipment online.

Topics: In the News

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