Summers seem to be a slower time in Central Oregon for auctions though tagged estate sales and yard sales are always going. The issue is in general, one has to pay THEIR prices and not a realized fair market value that auctions bring. I see things on Craigslist and FaceBook ads far over valued all the time.
I myself am already looking for ways to improve the Spring consignment auction and already thinking of ways to improve it for both the buyers and the sellers alike. Input from customers seemed that convincing Dennis to change to two day sale was greatly appreciate by all. That was a hell of a fight but worth it. The few reserves were all met I believe save for three and thats a high percentage for any auction,again EARLY advertising pays of. The Terra Steel business liquidation auction was a fine example of a summer sale with excellent equipment that realized excellent prices. Buyers were happy, seller was happy, and it was a fun day.
Here are some thoughts to consider when deciding when to sell equipment and trucks or anything for that matter..
How much is your equipment being used?
When equipment is being used less often, deciding whether you should keep it depends on how much profit the machine is helping to bring in compared to the cost of running, maintaining and storing it, not to mention depreciation. If your not using it very much or at all it is liquid money that can be used for upgrades or items you will use.
What are the current market conditions?
Demand for equipment can play a big factor in deciding when to sell. With higher demand comes the potential of higher returns. So it pays to do your research and find out how you can tap into markets of high demand. Call me, im always happy to share market trends and which type of sale might best suit that market.
How old is your equipment?
Generally, equipment depreciates as it ages – it’s seen a lot of use, is showing signs of wear and tear, and needs more repair and maintenance. As those costs start to add up, or you’re losing out due to equipment downtime – it may be time to sell. You also want to consider selling while your equipment still has useful life in it, and therefore resale value – before it gets to the point that buyers aren’t interested. In other words, sell it BEFORE its junk!
All these factors will have an impact on a real world appraisal not what you THINK its worth. Appraising is straightforward but just using google and viewing what other items are for sale is not a going to give you a true market value. Condition and especially location play a huge role in that. Try selling potatoe farming equipment in Central Oregon and youll find out what I mean.
Well, Check out the items we have for sale private treaty and if you think you might need a auction or know someone that might let us know, we have open books for awhile
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