Getting your construction tools ready for sale is only half of the process. Once the equipment is prepped for sale, you have to consider which selling option best fits your situation.
If selling the tools at an auction is the preferred method, then it’s important to understand the contractual obligations of each auction house before selecting the right one. Make to understand all of the terms and conditions while the machinery is out of your control, whether you are the buyer or seller. Since traditional auctions usually require transporting the equipment to an auction location, also bear in mind that sometimes there are fees associated with relocating the machinery as well as storage fees on the auction house property. It is important to understand the terms and contractual agreements up front, because some contracts might be incompatible with the way your company does business.
Online auctions have become increasingly popular as the sales outlet of choice. One reason is the equipment does not leave the seller’s control until after the sale is made, payment is received and delivery arrangements are made. This gives the seller peace of mind regarding the safety and security of the equipment and eliminates transportation costs.