When you need to sell assets in a short amount of time, your first inclination might be to use a private listing site and wait for the phone to buzz with offers. But that’s not always the fastest way to find the best buyers.
If your selling priority is timing, we have some tips and solutions to help you get the fastest sale, and for the right price.
Choose the fastest selling method
Ritchie Bros. offers multiple ways to sell your equipment depending on your needs – timing, price, convenience, and more. If speed is your first priority, our weekly online auctions on IronPlanet is often our fastest way to sell.
IronPlanet auctions get your equipment assets in front of thousands of ready buyers each week. And you can sell from your location, meaning no time (or money) spent transporting assets. It can maximize your convenience and your returns in a short time frame. Ritchie Bros. also offers live online auctions, with multiple auctions each year at our permanent sites, as well as Marketplace-E, which can accelerate your sale using pricing guidance.
Sell heavy equipment in the online marketplace
If you don’t want to wait for an upcoming auction and need to get your equipment on the market right away, Ritchie Bros. offers a secure listing service. Ritchie List lets you make equipment listing available right away using an easy-to-use platform. This is a secure online platform where you can sell from your location, with total control over price.
The downside to private listing is, while you might get your assets listed right away, it doesn’t always translate to a quick sale. The speed of the sale can often depend on your pricing and if it properly reflects current market conditions. Ritchie Bros. does offer pricing guidance and valuation tools to help you set an effective selling price.
Advertise your heavy equipment to the right buyers
Doing all your own advertisement can be costly and time-consuming and you might not reach the buyers you’re looking for. When you sell equipment with Ritchie Bros., all the advertising and marketing is handled for you. That includes digital and printed marketing to targeted buyers in your industry or sector. Ritchie Bros. has an enormous worldwide network of buyers with pre-approved financing. With Ritchie List, your listing gets advertising included with an affordable subscription fee.
4 tips to speed up your sale
1. Price your equipment accurately
While it’s tempting to ask for top dollar for your heavy equipment assets that doesn’t always translate to a fast sale. Do your homework and research equipment pricing and industry trends for comparable equipment. Ritchie Bros. offers the industry’s best market guidance when it comes to pricing with current information from various sales channels and geographic regions. This will help you establish a price range and set realistic price expectations for a quick sale.
2. Show the value of your equipment
The way your equipment looks can attract higher offers and lead to a quicker sale. Before you sell, consider heavy equipment refurbishing. Refurbishing can include cleaning, glasswork, upholstery repair, painting, decal replacement or everything in the refurbishing menu. Typically, refurbishing is a small investment that nets big returns.
3. Provide as much information as possible
Research has shown that providing at least 20 detailed photos of each asset leads to a faster sale. It’s also important to include as much information about your equipment as possible, documenting the condition of the undercarriage, engine compartment, cab interior, etc. Remember: buyers appreciate convenient online access to equipment information.
4. Use inspections to accelerate your sale
Some buyers are weary of purchasing equipment online because they are unable to view and test first-hand. Ritchie Bros. offers non-transactional, third-party inspections for all industries, including transportation, construction, and agricultural sectors. These inspections provide buyers with confidence and get your assets sold quicker.
Ritchie Bros. representatives are happy to chat with you about the fastest way to sell your assets. Contact us for an obligation-free consultation about selling timelines, pricing, and more.