Why selling equipment at online machinery auctions can benefit your business

If your business has used plant, machinery and equipment it no longer needs, selling it at an online industrial machinery auction is usually the simplest and quickest way to convert it into cash. 

Selling industrial equipment at used machinery auctions can help you boost cash flow, meet environmental targets and maximise your floor space. At Eddisons Asset Auctions, we have vast experience selling machinery and equipment across diverse industries and can manage the process from start to finish.

Here we expand on the benefits of online industrial machinery auctions and explain how they can become a reliable and convenient tool for your business. 

The benefits of selling industrial equipment at online auctions

It’s quick and easy

One of the main benefits for your business is that selling at an online auction is easy. At Eddisons Asset Auctions, you can contact our team for a free asset appraisal to get the ball rolling. 

• Our specialist surveyors value the asset and provide a guide price for the sale

• We produce detailed sales listings and images

• We market your assets to prospective buyers in the UK and overseas

• Your asset has an allocated slot in one of our used machinery auctions

• We respond to enquiries from prospective buyers and facilitate in-person viewings and inspections

• You receive payment within just a few days of the auction ending 

That leaves you and your team to get on with running the business without any time-consuming distractions. 

Your equipment gets more exposure

Online auctions can reach a larger pool of prospective buyers than in-person sales. We market equipment to our existing network of interested buyers and to would-be buyers in the UK and overseas. 

Bidders do not have to travel to attend the auction or pay auction entrance fees. That drives up the interest and increases the likelihood of a sale, particularly when the equipment is specialist or more niche. 

You can achieve higher returns

The ability to set a reserve price means your industrial equipment will never sell for a sum you’re not happy with. Unlike other sales methods, such as negotiated or tender sales, the competitive bidding process at used machinery auctions can also push up the price. That commonly leads to a sale price that exceeds an asset’s market value.

It helps you free up space

Selling your used industrial equipment at online auctions helps you declutter your facilities, reduce storage costs and generate a return on your investment. It can also be beneficial if you want to make changes to your business, for example, during a factory closure. 

The transactions are quick, reliable and secure

When you sell used industrial equipment through an established auction house, you don’t have to worry about payments going through. The winning bidder is legally obliged to pay the amount in full, typically within 24 to 48 hours of the auction ending. There’s also no cooling-off period, so the buyer can’t simply change their mind and pull out.  

It increases the lifespan of your assets

Rather than scrapping your used industrial machinery and equipment, selling it at auction helps to maximise the use and lifespan of your assets. That approach boosts your sustainability by enhancing resource efficiency and reducing the need for new manufacturing. It also contributes to the circular economy.  

It saves you money

Online auctions are usually more cost-effective for businesses than physical auctions, as there are fewer logistical and operational costs. The sales are run remotely, so there’s no requirement for an auction hall or a physical space. Online auctions also take less time and require fewer staff, often leading to lower auction fees. 

Selling your industrial equipment with Eddisons Asset Auctions

At Eddisons Asset Auctions, we host more online used industrial machinery auctions than any other auction house in the UK. With 26,000 buyers in our network and more than £6 million worth of assets sold last year alone, we give your business a fast and reliable way to turn your unwanted machinery into cash. Find out more about selling your assets with Eddisons Asset Auctions and get in touch for a free asset appraisal.