How do you know when it’s best to sell your used equipment? This question plays on every heavy machinery owner’s mind. And the decision to just sell or to sell and replace. The only way to make the decision Is to conduct an analysis of not only the machine but the cost of replacement. Once you understand this then your decision will be a lot clearer and you will know the time is right.
Here are a couple of clear signs that it’s time to sell your used machinery:
- Age is the most obvious factor as we all know equipment depreciates with time. And with depreciation comes wear and tear and repair work in order to keep your machinery in tip-top condition.
- Has the equipment been used recently? No, then it’s time to sell up! When machinery is sat unused it may develop issues that will incur more repair and maintenance costs. So the best thing to do if you no longer need it then sell it with us at Omnia Machinery.
- Current market conditions are a great indicator of whether the time is right for you. High demand for selected equipment gives you more leverage and almost guarantees you will close a sale. However, it is important to not get carried away when valuating your equipment as this will only push your customers to your competitors. At Omnia Machinery we deal with this aspect for you and work with you to decide the best price for you and the customer.
- Owning unique or obsolete equipment can be more trouble than it is worth. It’s very exciting to own rare equipment but when the machine has a fault it can be an impossible task to find the parts to fix the issue. Meaning you will be in a bit of a pickle at how to get the machine going again. Buying a well-known brand will mean there are always going to be parts readily available when required.
- The state of the economy makes a huge difference when it comes to selling your equipment. When the market booms or slows it impacts the value and saleability of the machinery, so it is always best to wait till the market is favorable.
- The equipment is guzzling gas, this is a clear tell, as older machinery will use a lot more fuel. Equipment can consume too much petrol because of poor maintenance. For example, using the wrong oil type and having an old engine can cause vehicles to consume a high level of gas. So, before you decide that the machinery is aging, clarify that the gas-guzzling issue is not just due to maintenance problems.
Omnia Machinery is an industry expert in used construction equipment and a trusted machinery trader. We stock a wide variety of quality used construction equipment, to suit many different jobs, such as cranes, road equipment, quarry, earthmoving, piling, drilling and underground mining. We provide our customers with all information and pictures with their quotation before any sale is agreed. From inspections to shipping, we are here to support you through every step of the transaction and keep you informed throughout the whole process enabling you to purchase in confidence. Contact us today with your machinery requirements.