HOW TO SELL EQUIPMENT: ART, SCIENCE OR BOTH?

We sell equipment everyday and we're here to maximize your return. First, we really listen to your individual needs, wants and concerns. We then construct a plan around your specific piece of equipment to maximize your return. Now, we go to work to sell your equipment! We’ll be using a combination of the sales channels we practice daily with great success.

Marketing Efforts Designed for You

The Permian International Auctions team takes a careful look at the equipment being sold and generates an effective plan of action to maximize the reach of the most appropriate buyers. This ensures they know about a sale and have all the information needed to make informed purchasing decisions.

Explore Appropriate Marketing Strategies in a Competitive Environment

While placing carefully worded ads in both online and print publications is certainly important, today’s highly competitive and challenging marketing environment demands more. The Permian International Auctions team takes a proactive approach from day one to generate the highest sales prices possible. How do we do it? We understand selling equipment is as much an art as a science.

So, what does that really mean? What is a proactive sales approach and how does it ultimately impact the prices equipment bring during an auction? To better understand our marketing techniques, it’s first important to understand important factors when selling equipment, as those factors dictate how each sale is orchestrated.

"It’s rare that an online buying experience is so personal, but I was able to directly reach the people I needed to talk to. Excellent service, and great results." by Cori Eggleston

What types of equipment are being sold?

The first factor the team reviews is the type of equipment being sold, as that impacts the number of potential buyers significantly. Every type of business has specific equipment needs, and there is no sense devoting money or effort marketing to companies that don’t have a real need for the type of equipment being sold.

A good example would be a contractor specializing is projects like preparing residential building sites for new home construction. That contractor may need a couple of dozers that are relatively easy to transport and are designed to be maneuverable in tight spaces. That company would be an excellent prospect for a Cat D6T dozer or something similar. If a dozer being sold was a Komatsu D155 designed for far heavier work, it wouldn’t make sense to market the equipment in the example.

Of course, some types of equipment appeal to a broad audience. Skid steer loaders and backhoe loaders are great examples of equipment that appeal to a large percentage of businesses. Those types of equipment are used extensively by both large and small contractors and are adaptable to a range of operating conditions.

The Permian International Auctions experts understand where and how different pieces of equipment can best be utilized to meet buyers’ needs. Once the specifications and key information is provided, it’s far easier to develop effective marketing strategies that will lead to a more profitable outcome for anyone selling equipment, even when conditions are less-than-ideal.

How do marketing cycles impact auction sales prices?

Consumers make choices before purchasing products or contracting for services. Anyone purchasing heavy equipment faces decisions that directly impact when and how that equipment is purchased, and that takes time. Today’s marketing professionals work with equipment sellers to take advantage of cycles when possible, rather than scheduling sales at inopportune times.

So, what does that really mean for sellers when they are both general economic cycles and cycles that impact only specific businesses? Both are important to consider when developing a selling strategy. Industrial buying cycles are generally longer than those experienced in typical retail markets, as purchases are far larger. In addition, industrial purchases may require the approval of several people before they can occur. These levels added to the mix can, and often do, stall sales for significant periods of time. At the same time, individual buyers also experience up and down cycles that significantly impact the buyer’s ability to make specific purchases.

For example, a highway construction contractor may need several additional pieces of equipment but may not have the purchasing power needed to take advantage of sudden opportunities. The contractor may have to wait until payments from jobs are received to have the required liquidity lenders demand. Even seasonal adjustments must be made, as weather conditions impact many contractors’ abilities to purchase additional equipment. Contractors in northern climates don’t generally want to spend a great deal of money on equipment in the fall as they know that equipment will be idle until warmer weather returns.

To garner the best returns for our sellers, the Permian International Auctions team members carefully assess each seller’s needs before taking advantage of available selling strategies. Proactive marketing will always result in better outcomes, and sellers are always encouraged to discuss their options with our team members before making marketing decisions.

INSPECTIONS PROTECT EVERYONE INVOLVED

Having an inspection can drive up value and interest on your equipment. If you do not have one, then buyers have to put budget towards travel or inspecting it themselves, thus taking away from the price they are willing to pay.

At Permian International Auctions, we firmly believe having access to information is vitally important for all parties involved in the transaction. Providing that information is not optional. We are committed to providing full, transparent condition reports to buyers well before a sale to prevent any types of issues after a sale.

Buyers are making a significant commitment when they bid on equipment, and they must be assured they are bidding on equipment that is properly described in the sales literature. That means sellers must be forthcoming with disclosing any known issues, so buyers fully grasp the risks they are taking. In many cases, buyers are willing to purchase equipment needing repairs or maintenance, but they want to know what they are dealing with upfront.

Pre-Sale Inspections are Beneficial

At Permian International Auctions, we recommend equipment is inspected by a professional well-versed in the type of equipment being sold. As a rule, most inspections will include images, videos and written descriptions of all major components and systems to support the equipment’s description. Key components of inspections include the equipment’s general appearance and any points specific to each type of equipment. We include the inspection results in the details sections of listings.

Sellers are encouraged to do whatever is realistically possible to enhance the condition of the equipment being sold prior to listing it for sale. In many cases, that will include taking care of obvious repair needs as well as dealing with appearance issues. Buyers do not expect used equipment to be perfect but, they do expect the equipment to be usable immediately.

If you’ve got questions our experts are able to provide sound advice. The goal is to be transparent during the entire sales process. Once you’ve got all the facts, we’re sure you’ll be ready to take advantage of the multiple marketing services available at Permian International Auctions. To get the best price for your equipment, take the time now to contact our team to learn more about selling equipment and why we believe our approach is the best in the industry.

Take full advantage of all sales avenues

Buyers do not all share the same needs and being open to different sales strategies always benefits sellers. That is why Permian International Auctions recommends equipment sellers take advantage of pre-auction marketing options in addition to taking advantage of the on-line auction.

A significant percentage of buyers are in need of certain equipment now and would rather pay immediately for quality equipment rather than taking a chance of being out-bid on auction day. Since you have full control, it’s certainly worth considering offers submitted by buyers before the auction. Selling in this way provides the equipment a buyer needs and puts the proceeds in your account sooner.

Pre-sales also makes it possible for our marketing team to target specific clients they know are in need of the equipment you’re selling. That can easily include not only local or regional buyers but may well include buyers from across the globe. We also work closely with a network of equipment dealers who are often looking for equipment their customers are looking for. Again, that type of marketing provides access to another pool of buyers that simply is not available locally.

Not Convinced Yet?

If you are still not convinced Permian International Auctions provides the best options available for selling your equipment, we strongly recommend taking the time to contact our team today to learn more about the sales options we offer our clients. We will listen to your needs and suggest marketing solutions to meet those needs. The team will explain how and when marketing your equipment should occur to garner the best prices. Arrangements can then be made to inspect each piece of equipment and include it in our materials. Again, we will happily take the time to explain how the process works and why it is a great way to sell unneeded equipment in any type of market.