Understand the History Behind Industrial Equipment Auctions
Auctions have been a method of trade for centuries, tracing their beginnings to ancient Greece; regardless of the item being sold, it is still an important way to conduct business today. With the advent of the internet, this type of sales venue has gained even more popularity because it allows people from all around the globe to bid on various items simply by logging onto any computer with a wifi connection. This is one of the biggest reasons they have become one of the favorite ways to buy and sell heavy-duty commercial equipment.
Early Sales short run supply curve equation Events
The first auctions started around 500 BC and were quite a bit different from what the typical modern event of today. They were held infrequently and used primarily to get the best price for women, slaves and other spoils of war that would otherwise be difficult to sell in any other fashion. It was the Romans who originally used a bidding format to liquidate property belonging to debtors who were behind on payments.
They were originally run the opposite of how they are today, with the bidding starting out high and gradually lowering until someone finally placed a bid to purchase the item. As time progressed, this was reversed to the method used today, with bids that start low and gradually increase until someone with the highest bid wins the right to purchase the item. Auctions have been a huge part of commerce and trade in every culture and society.
Heavy Equipment Events
In the 1900’s, equipment auctioning began with the Great Depression, with the liquidation of many farms and all of its machinery. The 1950’s brought the first automobile auctions and in the 1960’s, after the advent of the digger derrick and other industrial machinery, these units began to be seen at such bidding events. Technology was steadily increasing and something new was always becoming available. These events gained in popularity in the 1970’s, with buyers and sellers meeting at central locations to dins and liquidate all kinds of machinery.
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Today, industrial and heavy equipment auctions are still conducted at physical sites, although there are many companies that host online auctions as well. In light of the property being offered and how difficult it is to get this kind of machinery to and from onsite sales, the internet has become an invaluable tool in the heavy equipment auction world. With some accommodations to help the process go very smoothly, buyers and sellers of just about any kind of industrial vehicles and machinery can find what is needed and bid on it, no matter where it is located.
Through the use of reputable appraisers and a central, independent sales company which takes the position as a go-between, it is possible for buyers to purchase equipment without fear of fraud in almost every case. The dependable auction houses go through a great deal of effort to properly represent what is being …
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Any vender of heavy equipment and commercial vehicles loves the sale of a new unit, though such transactions tend to leave dealerships with a stockpile of used equipment that is taken in on trade. The reality of reselling used equipment is that in most cases, it is easier and more profitable for a dealer to take traded-in vehicles to an auction of industrial equipment rather than attempt to sell it off the lot.
Getting the best deals from an auction takes much more than the just being the highest bidder. There are many other things that must be taken into consideration in order to purchase something of great value such as industrial equipment. Just like every other business, the purchasing of industrial equipment requires an ability to sort the good from the bad. Otherwise, it would be very easy to buy sub-standard equipment whatever the price and not realize it until nothing can be done about it.
It never fails- you’re knee deep in plastic goo and the “Injection molding machines fault” light comes on, bringing the entire operation to a crash halt. You tell the men to take five and hit the candy machine, but getting it back on board can mean hours and headaches, or it might just mean a quick flip of a switch. Like your vehicle’s check engine light, it’s a notification that can spell calamity or a minor problem. Knowing the difference can save you the price of the mechanic when you know how to fix it yourself. On the other hand, the sooner you know the machine is cooked, the sooner you can start hitting the equipment auctions for a replacement.
Whatever the industry, heavy trucks and other essential industrial equipment is never inexpensive. The initial expenses are considerable and maintenance is costly; the hope is that the purchased vehicles will provide a good amount of beneficial use. At the same time, there is little doubt that at some point the existing vehicles will need to be replaced. If more than just a few units will be needed to keep a business running properly, purchasing vehicles in volume from auctions can be a great way to save a lot of money.
In these uncertain economic times, companies have had to make many difficult decisions to keep functioning. Automotive and industrial companies have been hit particularly hard by the recession