DETAILS ABOUT HOW TO PREPARE YOUR EQUIPMENT FOR AUCTION
IF YOU ARE GETTING OUT OF THE RESTAURANT BUSINESS ALTOGETHER, YOU MIGHT NEED TO AUCTION OFF YOUR USED RESTAURANT EQUIPMENT. HERE’S WHAT YOU NEED TO DO TO PREPARE YOUR RESTAURANT EQUIPMENT FOR AUCTION.
VISIT SOME AUCTIONS Whether you’re buying or selling, your first step should be to visit some local auctions to get a feel for the process. It will give you an idea about how the whole thing goes down.
ENSURE YOUR EQUIPMENT IS WELL-MAINTAINED Detailing your equipment also makes it easier to do your pre-auction maintenance. Buyers want to make sure they’re purchasing something in good working order.
HIRE AN APPRAISER Before you take your equipment to auction, it’s a good idea to hire an appraiser to determine the estimated value of the equipment.
BE AWARE OF YOUR BUDGET Don’t let high-speed bidding pressure you into going over budget—that’s exactly what it is designed to do.
KEEP SHIPPING IN MIND If you purchase or sell equipment far from home, you will have to pay to ship it to or from its destination. Make sure you keep it in mind as you start bidding or selling.
DON’T GET DISCOURAGED Just because you didn’t complete a sale at the first auction you visited, don’t let that discourage you. Keep at it and list your equipment at different auctions until you find the perfect buyer. Auctions are an invaluable tool for anyone who is buying or selling heavy equipment. You can purchase equipment for a part of the list price, or you can sell old equipment for much more than you would receive from a private sale. But before going for Auction, keep these things in mind.
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