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Getting The Most From Used Farm Equipment Auctions

Tuesday, January 17th, 2017
farm equipment for sale at auction

Used farm equipment auctions bring in billions of dollars in sales every year. There is a growing demand from farmers looking to upgrade older machines, so auctioneers have seen record prices at used farm equipment auctions. There are many things sellers and buyers can do to get the most out of farm equipment auctions, including following the timing of auctions. Choosing the best type of auction and having detailed information are also important.

The timing of the auction

Farm equipment auctions are traditionally held in the spring and fall to move items ahead of season. Seasonal demand will always play a role, but its influence has declined in recent years. Today, many auctions are held all year-round. Available supplies have decreased, so people are purchasing equipment out of season to get a good deal. This can benefit bidders at an auction because they will be able to get farm equipment whenever it is needed. Sellers can benefit from selling their equipment out of season by preventing competition from other sellers.

The timing of auctions also relates to when a seller should start working with an auctioneer. In terms of preparing the equipment, the earlier the better. Also, all items should be advertised online, in print, and through direct sales methods. However, even if sellers miss advertising deadlines, there is no need to give up. If similar items are being auctioned, there may be some potential bidders already in the audience.

Choosing the method

There are several types of auctions to choose from to sell used farm equipment. However, most equipment is still sold on site, while only a small amount is sold online.

It is a good idea to sell older farm equipment at a live auction because buyers will likely want to inspect the items. Buyers should make sure to attend live auctions, if possible, to ensure the equipment is in good enough condition to buy. Sellers will have more opportunity because farmers often want to get a good feel for what they are bidding on, especially with high-priced items.

Preparing detailed information

Bidders expect detailed information about the condition of the farm equipment, especially for online auction sales. Sellers should take anywhere from 20 to 60 photos of each item so that bidders have a good idea of the condition of the farm equipment. Take photos of each side including the hitch, hydraulic hook-ups, and the engine. Consider taking a video of the equipment being started so buyers can verify that it works.

Many factors go into the success of buying and selling used farm equipment at auction. For more information on how to bid or sell at auction, contact the experts at High Plains Auctioneers. Call us today at (806) 244-6776 or Contact Us by email to find out more about what we can do for you. Don’t forget to check out our Upcoming Auctions to see what we currently have available!