Do you have surplus equipment that needs to be disposed of to recover even just the investment? Then one popular way to sell it really well is through an auction where you can sell it quickly and easily. Here are some tips that can help you do it successfully.
Use reserves wisely
A reserve price is a minimum amount that sellers set for each surplus equipment. The bidding has to reach this desired price of the seller, otherwise, the seller can call the auction. This way, reserves protect sellers from selling below their desired sale. While this can be a good factor, it can also be a drawback if not set right as it can turn-off potential buyers. So, use reserves wisely and for special pieces of surplus equipment only. In fact, if you’ve got the right marketing for your auction, you don’t need reserves.
Know The Market Trends
When you are selling any item, knowing market trends is a must. In particular, prices of used or surplus equipment fluctuate due to many factors. So, make a good research on the present market conditions so you have the idea of how much the value of your equipment is. You may also check the prices of previously sold equipment that is similar to what you’re going to sell. This will help you make better decisions and get your item sold.
Be Transparent
Buyers of surplus equipment may not be expecting your machine to work like it’s brand new. But it is crucial that you practice transparency about the condition of your equipment in order to prevent future issues from arising. This means taking photos of any defects in your machine and disclosing it in your auction information listing. It will help prevent you from lawsuits of false advertising or asking a refund from the buyer. The same holds true for including all other details pertaining to your item.
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