Should you use an industrial machinery auction?

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Did you know you can pick up industrial machinery at auctions? These specific types of auctions typically have large numbers of second-hand industrial equipment up for grabs. Often the auctions are defined into categories, such as an agricultural auction one week, aerospace another week and even more specialist such as auctions selling industrial components like brakes, gearboxes, screws and more.

If you are thinking about using an auction to purchase a piece of industrial machinery or vital components such as Desch, Dina-Al, Tschan and Enemac couplings and clutches, have a look at the following pros and cons of relying on auctions for industrial machinery.

You have the chance of viewing what you buy

As Wolfe Auctions writes, public machinery auctions are no longer confined to merely selling old and worn-out equipment or as a means of satisfying payments or loans. Today, many sellers and buyers view auctions as a first choice of where to buy and sell industrial machinery rather than a last resort.

You can buy through specific maufacturers

Some industrial equipment auctions will sell products by manufacturer categories. This can be an efficient way of locating a vital piece of equipment or part from a specific manufacturer such as Spaggiari, Boneng, Falk and Jaure.

For the seller of industrial machinery, using an auction has a number of benefits including:

.               You can get a higher return on your equipment

.               Settlement is typically efficient, often less than ten days

.               Sellers don’t have to worry as the auctioneer handles the process from beginning to end

However, there are also some disadvantages of machinery auctions, both for the buyer and the seller.

.               Some industrial auctioneers might charge as much as a 15 – 30% commission on the final sale price

.               As bids vary significantly from week to week, there is no secure way of gauging how much your equipment is likely to sell for or how much you are likely to have to pay for it.

.               Some auctions include an opt-out clause giving a prospective buyer the chance to back out of the deal. This might be advantageous for the buyer as they will have time to rethink their purchase, but for the seller it means they are back to square one

Whilst buying and selling essential equipment and components via auction may have some plus points using a reputable, solid and long-standing machinery and component supplier is one of the ‘safest’ ways to locate specialist equipment and parts.

YB Components have been supplying machinery components since 1993. If you require the likes of a Planox clutch or a Zurrer gearbox, don’t hesitate to get in touch with YB Components, specialists in the supply of industrial motors and gearboxes, couplings and clutches, and other vital industrial components for almost every industry and trade.