You’ve just upgraded to a new machine and now the old one is taking up valuable floor space. You’re ready to sell, but you’re hoping to offset some of the costs of the new equipment by getting a good price. Selling any useable factory equipment for scrap should really be a last resort.
Some of these tips can help you get top dollar for your equipment once you no longer need it.
#1 Research Markets
The first step is finding out who’s buying. It may be that there are dealers who specialize in this equipment. They may not be out searching classifieds for niche equipment but are eager to make an offer if you get in touch with them. For example, if you have a used CMM, your best bet is to get in touch with a CMM machine dealer for a quote.
#2 Get All the Information Ready
Get all the essential information about the equipment together so you can get an accurate estimate of the machine’s worth. Write down the make, model, serial number, and any documents related to the machinery, such as a record of maintenance. Doing some research on your own with that information can give you an idea of how much it might be worth.
#3 Clean and Inspect the Equipment
If you want to get more for your used equipment, make sure it works before you start talking to buyers. Clean and inspect the machine if it’s been lying around for a while gathering dust.
If it turns out it’s no longer functional, get quotes for repairs and see if it’s worthwhile to get it back up and running or if you should just sell it for scrap parts.
#4 Find the Right Buyer
There are plenty of cases in which a manufacturer can get a better ROI with used equipment, as long as it’s functional and up-to-date. The Pay Back Period on used equipment is shorter and that helps get businesses get back to their usual cash flow.
If you can’t find a dealer for your equipment, start looking online or through your own contacts to see if anyone in the industry is looking for a similar piece of equipment. Find the right websites and forums where industry people go and take out an ad. There are also auctions you can consider.
#5 Retrofit Older Equipment
Think you can get more years out of a piece of equipment that just needs to be brought up to date? Instead of selling, consider an upgrade and retrofit. You can extend the lifespan of the equipment and get more out of your initial investment. If you’ve already bought a replacement but you have the floorspace to keep both, you can also increase capacity.
Get more for your used equipment. There’s a good market for equipment liked a used CMM, you just have to find the right buyer. Do your research, get in touch with a dealer, and give the machine a bit of maintenance before you try to sell.