Companies that have a need to grow and expand are often faced with requiring new equipment for their expansion. Turning to the first source available can result in extra spending. A piece of equipment that costs $50,000 new might be able to be purchased for $12,000. While it has some use, it’s in perfect working condition and leaves the business with additional money to invest into the growth.
There really hasn’t been a lot of resources available in the past. If you needed new equipment you contacted the manufacturer, a rep discussed your needs and then a purchase contract was sent over.
Now thanks to the internet you can find almost anything you need second-hand, for a deep discount. If your company is ever in need of new equipment, consider these things – it’s where you should be looking before you take the hit and pay full retail price on brand new equipment.
Local auctions will often have equipment from companies closing down, or from lenders that are selling off equipment to pay back unpaid debt, as well as estate sales.
Look for local ones, but you often have to travel to the nearest large city to find the good stuff. They will typically host them in central areas in order to draw the most attention from a large radius. You can find the latest auctions by searching online.
This is where you are going to find the best deals, but also the most competition in terms of other businesses looking for deals as well. You will need to look often and also be prepared to buy when you do see what you are looking for. If you delay you might miss out.
There are plenty of industrial auctions online – if you know where to look. The benefit is you have access to a lot of different deals, but there is also a lot of eyes on the same deals. When searching these websites you need to be in buyer mode, not browsing mode. If you see a great deal jump on it.
There are often bankruptcy sales when all assets are put up in order to pay off company debt. This can be tricky to understand, but these sales are usually very aggressive in terms of pricing, so there are plenty of deals to be found.
One of the best ways to stay on top of these opportunities is to network with local corporate bankruptcy attorneys. They are the first to know if and when these will occur, and if they know what type of equipment you are looking for they can often give you a little advance warning.
Sometimes buying direct can save you money if the manufacturer is closing out a product in order to release a new updated model. If this is the case they will often blow out old inventory to make room for the new line.
If you can save a pile of money by grabbing an earlier model that will still accomplish what you need then by all means do it.