When selling heavy equipment from corporations to small business, all want top dollar.

The higher the investment for the machine the more important it will be to the business. Ritchie Bros. looks at the different selling methods that're out there

  • Unreserved or absolute auctions
  • Reserved auctions
  • Private sale
  • Selling or consigning to equipment dealers
  • Equipment brokers

To be an effective seller you need to compare the pros and cons of the above and decide which is the best fit for your company. A few general tips from Ritchie Bros. are:

  • Spend time on gathering product knowledge on the machine
  • Inquire on the current worth of the equipment
  • Clean and polish the assets so they can look their best
  • Screen buyers
  • Target buyers smartly
  • Be transparent

Investigating unreserved or absolute auctions the National Auctioneers Association states that 46 percent of the people that bid on an auction do it from a mobile device.