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Tips for Selling Old Equipment: How to Sell Machinery That’s 10 Years or Older

Selling old equipment presents its unique set of challenges to attract buyers, so here is Equipment Trader’s advice to maximize value.
Tips for Selling Old Equipment

Every year, the heavy equipment industry pushes boundaries with new models and technology that can quickly make used equipment obsolete. Whether you’re running a construction or ag company that needs to upgrade to your next unit, or you simply want to offload an aged piece of machinery, selling used equipment presents its unique set of challenges to attract buyers. Here is Equipment Trader’s advice for how to sell machinery that’s 10 years or older.

Compare prices online for new and used skid steers for sale.

1. Assess the Condition

Take a close look at your used equipment and assess its condition with a comprehensive inspection. This will help you address any issues or flaws, whether they’re mechanical or cosmetic, and make it easier to determine your asking price. See what needs to be repaired and how much it will cost. If you’re worried that you’ll get next to nothing for a unit that’s well beyond its prime, consider selling individual parts or components for money.

2. Invest in Repairs and Maintenance 

Before you list your unit for sale, make necessary repairs and keep up with maintenance to increase the value of your machine. If you expect your unit to be on the market for several months, schedule a fix-up in the meantime. And make sure you’re transparent in the listing about the service history so shoppers are confident when they buy your unit.

3. Highlight Key Features

Emphasize the benefits of your older equipment on your marketplace listing. While it has some age on it, it’s also been reliable and durable for the long run, so let the shoppers know it’s been a beneficial machine in part to its longevity. Explain how you’ve used the unit for your jobs and how well it’s performed over the years.

4. Price Strategically

Pricing older equipment can be difficult as you try to maximize your return while remaining competitive in the market. Research similar listings to gauge the going rate for comparable machinery, but factor in your unit’s condition, the number of hours put on the machine, and its features. Consider pricing your equipment slightly below market value to get the attention of more buyers.

5. Expand Your Reach

Online marketplaces like Equipment Trader give you the power to expand your reach and connect with shoppers nationwide, thus making it easier to sell an older used unit. Don’t stop there though. Utilize social media in addition to industry-specific forums to market your machine so you’re targeting different consumer audiences while increasing the visibility of your listing.

6. Offer Flexible Financing Options

Incentivize your sale by offering financing options for the buyer. Even if you can’t offer the guarantee that might have come with a manufacturer warranty when you first bought the unit, you can still make it easier to sway a shopper with payment plans or lease-to-own arrangements to accommodate buyers with different financial situations. This makes your older unit more accessible to a range of buyers that are looking for a deal.

7. Provide Exceptional Customer Service

You may get your fair share of skepticism with a unit that’s seen better days and has been put to heavy use at the worksite for projects over the years, but you can bring greater credibility to the sale when you prioritize exceptional customer service throughout the transaction. Be friendly, responsive with inquiries, clarify any gray areas with the condition of the machine or its price point, and build trust with the buyer. This will definitely help with future transactions, too.

See new and pre-owned backhoes for sale online.

Map out your sales strategy with these tips when it’s time to list your used machinery on the market. You can get great value for a piece of equipment that’s a decade or older and spend less when you’re ready to upgrade to a newer model. List your equipment today and visit EquipmentTrader.com/Sell.

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Ryan Miller
Ryan Miller

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