When it is time to sell your surveying equipment, you will probably want to sell it as quickly as possible and at the same time, get the best price possible. Pretty simple, right? Not really. With all sale-related options available today, selling any kind of equipment can be quite difficult, complicated and time consuming. Therefore, it is very important to define how you plan to sell your surveying equipment. Finding the right buyers is only one part of the entire process. It is important to pay attention to other elements involved in the selling process, like negotiation, marketing, arranging test periods and inspections, storage, providing insurance, etc. The entire selling process can be extremely time consuming and can result in increased and unexpected costs. You need to compare the potential profit against the potential cost of the selling process. Luckily, there are many selling options available, all with certain pros and cons.
Absolute Or Unreserved Auctions. The unreserved auction method is one convenient way to put many different items including surveying equipment for sale. With this selling method, there are no minimum bids and reserved prices. The item is sold to the highest bidder on the auction day. With the unreserved auctions, large number of potential buyers can be involved, and this situation increases the demand for your surveying equipment. Each potential buyer places a bid for the equipment. The result is higher price for the equipment from the one you have planned. More buyers means higher returns. Another big advantage of the unreserved auction, is the security of the entire selling operation. Also no negotiations are required between the buyer and the seller. Today there are many auction companies which offer various consignment options.
Advantages: aggressive bidding that creates greater competition; large number of potential buyers; increased demand; higher price; increased security.
Disadvantages: there is a need for experience, skills and knowledge; reach of the auction company or website.
Reserved Auctions. The reserved auction is another common method that you can use in order to sell your surveying equipment. In this type of auction, the sellers places a hidden or reserve price for every item. The potential buyers place their bids without knowing the price placed by the seller. If the highest bid placed by one of the potential buyers is lower than the hidden price placed by the seller, the seller has the right either to accept or to reject the bid. The main benefit for you if you are planning to use this auction method, is that your surveying equipment will not be sold for a price that is bellow your expectations. But on the other hand, you will need to spend a lot of time and effort with no guarantees that your equipment will be sold. This is the main reason why many sellers avoid using the reserved auction – not knowing when their items will be sold.
Advantages: the option of setting up the minimum price for your surveying equipment; increased competition which can increase the price.
Disadvantages: no guarantees that the surveying equipment will be sold; small number of potential buyers can be involved in the selling process.
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