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The Best Ways To Sell Used Farm Equipment

Monday, June 20th, 2016
Tips for having a great far equipment auction with high plains auctioneers

If you have replaced your older farm equipment with newer and better models, you might be wondering about how to sell your unneeded equipment. There are a few things you can do to maximize the chance of profiting from your used machinery. Updating its outward appearance, advertising the equipment online, and selling at auction are a few steps to successfully sell your used farm equipment.

Update the appearance of your farm equipment

The first thing a person will notice about your used farm equipment is how it looks. In fact, to get the interest of potential buyers, you will need to update the appearance of each piece you are selling. Taking a bit of sanding to the piece along with some primer and paint will make it look like new. The cost of updating the appearance of your equipment will be covered by the profit you make from the sale.

Use the internet to advertise your used farm equipment

Use the free classifieds on the internet to advertise your used farm equipment to hundreds of potential buyers. There are even some classifieds specifically meant for used farm equipment. You can also consider using your local paper’s classified section or hanging fliers around town to advertise what you are selling. Make the fliers as eye-catching as possible by using colored ink or brightly colored paper. Check other used machinery ads to compare the selling prices.

Selling farm equipment on your own

If you decide to sell your used farm equipment yourself, be prepared to handle the time consuming efforts that go with the process. You will first be responsible for getting the word out that you have something for sale. People will call, stop by to see the equipment, and try to negotiate for a lower price. You may be willing to deal with these steps in order to sell your used farm equipment. You may even enjoy the interaction with others while trying to get a fair price.

Selling used farm equipment at auction

Having a middle party help you sell something that you feel you can do on your own may not seem beneficial. However, before you decide to sell on your own, consider the benefits of auctioning your used farm equipment. By selling your machines at auction, you may end up spending less on advertising.

When you sell used farm equipment at an unreserved auction, there will be no minimum bids or reserve price. All items must sell to the highest bidder at this type of auction, a fact that helps attract a lot of potential buyers. Buyers will attend the auction with the intent to purchase, which leads to higher bidding on items. A big advantage of an unreserved auction is the certainty of the sale. You will not spend time negotiating the price with the buyer, unlike when selling your used farm equipment on your own.

Reserved auctions are another common type of auction at which to sell used farm equipment. With these auctions, you put a hidden reserve price on your items. If there are no bids that match that amount then you can decide to accept what came in as the highest or reject selling. The greatest benefit of this auction is knowing your used farm equipment will not sell for less than you are willing to accept. Many times buyers will not attend a reserved auction, since there is no guarantee they can buy what they want to bid on. This makes the competition less intense and the bidding lower.

If you would like more information about farm equipment auctions or auction purchases, contact the experts at High Plains Auctioneers today. Call us today at (806) 244-6776 or Contact Us by email for more information about our services. You can also view our upcoming auctions to see what we currently have available.