How to find the right machinery auctioneers to sell your assets

If you have used construction or industrial machinery to sell, the quickest and most convenient way to liquidate it is usually through an online auction. An online auction gives you access to a wide range of buyers across different locations, and the competitive bidding process often leads to a higher sale price than you’d achieve through classified ads or by selling to a dealer. 

Another benefit of machinery and equipment auctioneers is that they can handle the sale from start to finish, so you can concentrate on running your business. However, when you’re putting so much trust in an auctioneer, you need to find a good one.

Here we discuss how to find the right machinery auctioneers to sell your assets and the various services and experience to look out for. 

What should you look for in a UK machinery auctioneer?

So many people are short on time, so it makes sense that the internet has become the most popular sales choice for businesses and private sellers. But not all online auctions are equal. When searching for a machinery auctioneer to sell your assets, there are a few key things to look out for. 

Specialisation and experience

Choosing an auctioneer with specific experience in your industry makes sense. The auctioneers will value the assets and advise you on an appropriate guide price and reserve price, so they must have an excellent understanding of the market. 

Well-established auctioneers with a track record of selling similar assets will also have a good network of existing buyers and a reputation in your industry. That will lead to a greater pool of buyers and help to push up the price of your assets when bidding opens.   

A range of sales services

Online machinery auctions are extremely popular, but that doesn’t always make them the best option for every asset. For example, negotiated sales can sometimes be a better method of selling high-value or niche assets where buyers are limited. Again, the auctioneer’s experience is crucial, as this method relies on their ability to find interested buyers and negotiate an appropriate sale price.

If you want to obtain a minimum price for a complex asset quickly, a tender sale may be the right option. Interested parties are invited to submit their best offer, and the bids are made blind. That can lead to a better deal than you’d receive in an open bidding process. 

Their location and reach

When the auctions are online, the physical location of the auctioneer is less important. However, choosing an online auctioneer who sells to the broadest pool of potential buyers will help to increase demand and push up the sales price. Some online auctioneers sell throughout the UK and even to overseas buyers to give your machinery and equipment the best possible exposure.

Complete sales packages

Some auctioneers will handle the whole sales process from start to finish. For example, at Eddisons Asset Auctions, we value your assets, create the sales listing, market widely, host the auction, respond to enquiries from buyers, arrange physical viewings, manage collections and collect the payment for you. That allows you to focus on running your business. 

Comprehensive marketing

It’s vital to work with machinery auctioneers who can market your assets effectively, as the more people they reach, the greater the price you’re likely to achieve. 

We market our machinery and equipment auction lots through our online catalogue and website, and directly to our established network of over 30,000 buyers. We also use digital and social media marketing to target specific buyers and sectors, and market internationally to increase exposure for niche assets. 

A positive reputation

It’s also worth checking reviews and testimonials to see how happy previous customers are with the auctioneer’s services. Looking for auctioneers who are members of professional bodies or organisations like the Royal Institute of Chartered Surveyors will ensure they adhere to high standards of professionalism and transparency.    

Other considerations  

Naturally, you want to work with machinery auctioneers with the best possible reach and track record in your industry, but you should be conscious of fees. Auctioneer fees can vary significantly, so you must understand what charges and commissions apply before signing up. 

Why choose Eddison Assets Auctions for your machinery sale?

At Eddisons Asset Auctions, we handle every part of the sales process on your behalf. That includes everything from desk appraisals and professional asset valuations to online and offline marketing. We also have a reputation as one of the leading machinery auctioneers in the UK, hosting fast and efficient auctions with sales success rates that exceed the national average.

We also:

• Have competitive and transparent fees

• Hold an extensive database of UK and international buyers

• Ensure prompt communication and payment to sellers

• Have an experienced, RICS-registered team

• Are specialists in engineering, construction and farm machinery sales

Learn more about selling your assets at our UK machinery and equipment auctions and get in touch for a free appraisal.