Although it’s only July, it’s not hard to imagine the unavoidable dropping temperatures, falling snow and gathering ice that will soon announce the start of Canada's and parts of the Northeastern United States' long winter season. With colder and more hazardous weather around the corner, used equipment owners have some serious decisions to make about which items to keep in their fleets and which to sell.
Fortunately, the approaching end of warm weather is not an issue in many other geographic areas around the world. Areas in the United States, such as Florida, Texas, California and Arizona, as well as countries in South America, Asia, the Middle East and Africa will continue to experience high temperatures that make ongoing road construction more manageable. This offers advantages for heavy equipment owners who are focused on inventory management and seeking a new home for a selection of items. In addition, there is high demand for older equipment in developing countries due to ease of repair and operation.
But how do owners interested in selling equipment reach these distant audiences? Shipping equipment to onsite auctions can be expensive and time consuming. And, during these colder months, potential buyers may not want to travel to onsite auctions (i.e. experience delays and cancellations) during potentially hazardous conditions or view equipment in possible extreme cold temperatures. If auctions do take place, low attendance can mean a poor return for sellers.
Online auctions that operate year-round and cater to a global audience offer greater assurance to sellers because their auction dates are not contingent on weather conditions. The ideal marketplace will hold auctions frequently, such as on a weekly basis, so that equipment owners can sell items and have money in their accounts within a few weeks, rather than a few months. This makes it feasible for a seller in Toronto to close a deal with a buyer thousands of miles away in California without leaving the comfort of their office or home. Thorough inspection reports posted online allow people to buy with confidence without having to travel to view the equipment.
Although road construction projects tend to taper off in cold weather months, excavators, asphalt pavers, compactors and dozers do not have to go unused in the off season. Equipment owners who utilize online auctions can capitalize on road construction projects around the globe and even find a new use for their profits, such as taking advantage of the demand for snow removal equipment during Canada’s winter months. Buyers and sellers of online auctions will realize that they can maintain a fleet that’s flexible from season to season and potentially introduce new services to their business.