If you have time to take a tour around your warehouse which you may not have done for some time, then most likely you will realize that you’ve got more inventory than what your business actually needs. They can be some idle equipment that has been hidden for years or several units that were supplied excessively by a supplier. Whatever they might be, you have to think about how to benefit from any surplus equipment that is wasting some functional space and attracting dust in your warehouse. It is a good time to take them under control.
The first step you can do is to come up with a good plan of what you want to do with all the surplus inventories you have in order to keep you on track and stay organized. Just like keeping an updated inventory of the products you are selling, you should do the same with any surplus equipment you have idling and unused for a long time. Take ample time to consider which of them should go to scrap and which of them can be turned into cash. It may sound a little bit biased but the easiest way to take advantage of getting rid of surpluses is through an auction.
In case you don’t know it yet, selling your surplus equipment or machines through auctions brings a lot of compelling reasons. First, there’s a greater chance to make more cash since there is more potential buyers who can view the auction and they will not be limited to local buyers only but also to a global audience. Moreover, you will save time, effort, and some money because once the auction ends, you will have a guaranteed buyer while leaving everything to the expert auctioneers. Better yet, you get the best value possible for your item by having the opportunity to set a minimum reserve sale price on your equipment.
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