(806) 244-4453 Fax

Expert Tips To Follow When Selling Used Farm Equipment At Auction

Friday, January 4th, 2019

Auctions have proven to be a great choice to buy or sell farm equipment. They provide an easy way for you to sell your machinery, so you can get the cash you need quickly. The following are some helpful tips if you’re thinking about selling used farm equipment.

Find out which type of auction is right for you

There are options when choosing the auction method that works best for you to turn used equipment into cash. Each choice has its unique advantages and disadvantages, so you’ll want the method that works best for you.

Whichever auction type you choose to sell your used farm equipment, all bidders will be required to register before being able to bid. They will have to list their full name, address, and payment information as well as sign stating they agree to the listed terms that apply to the sale. This information can help ensure they will pay for their purchase.

Live auctions

Live events are what most people think about when they hear the word “auction.” These are gatherings of large crowds coming to make bids on items with an auctioneer calling out the details and encouraging bids. Potential bidders can take an up-close look at what they plan to bid on before the sale begins. Live auctions can take several hours, but by the end, all items are usually sold.

Online auctions

These types of auctions can run simultaneously with a live auction as buyers bid against one another. Competition runs high at these sales. Internet bidders can remain anonymous and the auctioneer will motivate all bidders to continue raising amounts. Online auctions mean you may get more interested bidders.

Timed auctions

These auctions are conducted online and allow bidders to look at your equipment using pictures you’ve provided. They are able to place bids throughout a specific time frame, like one week. There is no auctioneer and bidders go against one another as they see new amounts come through. At the end of the specified time, the highest bid wins.

Know the value of your used farm equipment

Before you set out to sell your used farm equipment, you should have it appraised to know the real value of each piece. Use experts in the field so you get advice from someone with farm industry experience. You can also talk with a farm equipment auctioneer to learn what you can expect.

Trust the auctioneer you’ve chosen to run your auction. Follow any advice they offer and be honest with bidders on the day of the sale. With the help of good appraisers and your trusted auctioneer, you will have a successful used farm equipment auction.

Prepare for a used farm equipment auction

It will be well worth your time to invest in cleaning up your equipment. Remove any oil or grease build-up and clean off any weeds that have attached themselves during use. When prospective bidders see clean machines, they know they have been well maintained and this will encourage them to make higher bids. You can use simple tools such as a garden hose to wash the piece down along with some WD-40 and few paper towels to remove grease and oils.

Don’t let little maintenance issues bring your price of your equipment down either. Small problems can be repaired quickly and affordably. Bidders that see broken lights or low tires will offer lower bids thinking they’ll have costs to inherit. If you’ve done any major repairs on the piece since you bought it, provide the prospective bidders with documents to show any new parts. Records of any repairs make a significant impression on bidders and gives them the confidence to buy your used farm equipment.

Other options for selling used farm equipment

There are other options to sell your equipment such as advertising on your own. This method means you have to be available any day and almost any time for someone to view your machines. People will usually expect you to be available when it’s convenient for them and will most likely try to negotiate a much lower price. You can also try to sell to a dealer, but they will likely give you less as well. Auctions eliminate these inconveniences and make the sale safer, faster, and in most cases, more profitable.

Used farm equipment for sale in Texas

Call High Plains Auctioneers today at (806) 244-6776 to find out how you can sell your used farm equipment at auction. You can also Send Us an Email to learn more about Selling and Bidding at our events. Check out our Upcoming Auctions to see what we will have available!