Auctions Vs. Dealers: Where You Should Get Your Used Farm Equipment

Buying farm equipment at an auction is a great idea if you are interested in finding used machines. There are benefits to buying from dealers also, but you will end up paying more for items that will quickly depreciate in value. The following can help you decide if going to a farm equipment auction is a good choice for you.

Auctions vs. dealers

If you have never experienced an equipment auction, it can be difficult to know if it is a good choice. You will often have more selection and options and more chances to save money.

More selection and options

An auction gives you an opportunity to view the local inventory, inspect the equipment for sale, and learn more about favorite items. It also gives you a sense of what kind of interest is out there from other buyers. The buying atmosphere is more competitive at farm equipment auctions. But, you can be sure that if other buyers are interested in your choice of equipment, then you are probably looking at a good machine. If you cannot attend an auction in person, or you prefer not to, online bidding is often an option.

Cost-savings

When you consider the benefits that come with buying farm equipment at an auction, it is easy to see the best value for price versus quality. There is a reliability that comes with purchasing new, but it also comes with a high price and quick depreciation. A more economical choice is buying used equipment, but you must buy from a reseller with an excellent reputation.

Live farm equipment auctions

You will most likely need to be prequalified to buy when you bid at an auction, and you must provide identification. The auction house will most likely ask you for a letter of credit or a bank guarantee before you can purchase from them. Make sure to check the specific requirements before you attend the auction to know what the rules are.

All auctions are usually open to the public and a catalog should be available for you to look at before the event. You might find another piece of equipment that you are interested in while browsing. The purchase process is simple at an auction and is often easier than buying equipment from a dealer.

Online farm equipment auctions

You might be on the fence about buying farm equipment from a dealer or from an auction. If the thought of a more personal experience appeals to you, then consider buying your used farm equipment through an online auction. With this option, you can get a great deal from the comfort of your home.

You still get a wide variety of choice when you participate in an online auction. You will also have the same options to bid and the same pricing models (like reserved or unreserved). But, you can avoid the crowds and select the exact pieces you want at your own convenience. This makes the experience more personalized. Keep in mind that you will not be able to inspect the equipment if you do not go to the auction house.

Online bidding has the advantage of letting you set your maximum price and automate the process of bidding for you. It is not necessary to attend a live auction to make offers and bid on used farm equipment with the internet. This is good for times when you have other obligations and need to absentee bid or if you would rather buy used farm equipment at home.

Farm equipment auctions in Texas

If you need more information about farm equipment auctions, call High Plains Auctioneers today. You can reach us at (806) 244-6776 or Contact Us by email for more information about Bidding and Selling at our auctions. You can check out our Upcoming Auctions to see what we will have available!