Business Equipment Auctions | The Best Teams Have Worked With Multiple Businesses
Experience & Character Count in Business Liquidations Auction Houses
If you ever choose to liquidate, upgrade, or downsize your business, you’ll soon find that there are numerous ways to get the job done. There are so many avenues for selling tools, equipment, and other products that it can quickly become overwhelming. As a business owner, you have a hard decision to make. The decision is also a very important one. If you choose the wrong avenue for selling your equipment you could lose tons of time and money. You may also fail at selling anything and end up at square one, looking for another way to get rid of your old equipment.
Selling your tools, equipment, and other goods is already a massive headache. Searching for the right venue to sell your used business equipment usually adds a heavy layer of frustration, confusion, and uncertainty. And there is arguably nothing worse than having high levels of uncertainty around a sale that you are attempting to successfully execute.
In our latest article, we will walk you through the importance of working with a professional appraisal and business equipment sales team to ensure you have a profitable event. We will explore ways you can do diligence on your end to ensure you move forward in your auction with peace of mind and confidence that you have chosen the right sales group. We will identify the most valuable qualities of the sales partner you are looking for. We will also help you understand why auctioning your equipment with a trusted company that is well-versed in helping multiple businesses through this process can be your best bet.
Do Your Research
We made this the number one action because we believe it to be not only the first logical step in this process but also the most important. When looking for a team to help you sell your equipment, first start by researching their credibility, trustworthiness, and ability to complete the job successfully. If you’ve been around long enough, you may remember a time when the internet wasn’t the most authoritative place to find most types of information. Things have changed quite a bit over the last 25 years though. Use the internet to research the companies you are considering to work with. A few ideas to consider:
- Do they have a Google Business or Bing Places Listing?
- Do they have positive reviews and are they responsive to their reviews?
- Do they have a good rating with the BBB? Are they responsive to positive and negative client feedback that is submitted through the BBB?
- Do they have a website? Does their website look like they take themselves and their business seriously? Do they have a trustworthy brand and mission?
- Do they have accreditations signifying they are thorough, process-driven, and guided by best practices?
Reach Out To The Prospective Team
Once you have established that your prospective companies are legitimate and take their work seriously, then reach out to the ones at the top of your list and talk to them. Ask them about their processes and people. How do they plan to help you get the most value out of your equipment liquidation? What do they offer that differentiates them from competitors? Have they worked with companies like yours before? You can learn a lot about someone by speaking with them. If you get a good feeling about a team and their process, then they may be a good fit.
Set Up A Time To Walk Through Your Space
By the time you’ve finished conversations with the companies on your list, you’ll have a good feeling about 1-3 of the top candidates. Now is a great time to set up an in-person meeting and have a walk-through of your site to identify the best opportunities for your sale. This will give you the perfect opportunity to learn more about the team you’ll be working with and if they really are a good fit. A few concepts to consider when you meet the team or team member:
- Do they seem knowledgeable about the equipment? Are they able to generate an accurate value for your items?
- Do they appear thorough and organized? And do they seem to enjoy their work?
- Are they able to help you understand how they plan to get you the most value for your equipment?
The Most Valuable Qualities
Of all the qualities you may consider, the most valuable one is debatably – trust. Remember all of those amazing reviews you saw on the internet about this company? Do those reviews appear to stand true?
Do you trust their competency? A trusted sales team can be your greatest ally in identifying your equipment that will yield the highest returns. You’re looking for a partner who displays a proven process, has a highly regarded reputation in the related industries, and shows a successful track record in working with businesses like yours. You want an auction team who is going to do the right thing in the right way, every time.
Ask the team member you meet with if he and his company have the proper business credentials. This gives you further insight to how serious the team is about their work. Do they display competency and the ability to complete their work in an organized, thorough manner that follows an obvious set of guidelines?
Do they understand your business and do their values of your equipment appear to be well-supported?
The top teams will always use the best practices available, with the highest standards of integrity for completing the job, showing you, your company, and your equipment respect.
Can they explain the “how” behind their plan to get you the best value for your equipment?
At this point in your research, the best candidate really begins to stand out. The most qualified auction teams are able to take a comprehensive approach informed from years of experience. They back this up by their own industry research and know-how and translate that experience and knowledge into profits for your business.
Does their character show trust and honesty?
Here we return to our original concept, the question that must be answered in a decisive “yes”. If any of your other research questions were answered “no”, then you may want to think about the issue and decide if it is a ‘make or break’ matter. If the trust question is answered “no”, then you should politely thank them for their time and continue researching.
Why Experience With Multiple Businesses Is So Important
You would be best served using a team that understands what you are going through. The best team for your job is the one with a history of success. They should have the ability to take the work and worry out of your hands. They should be organized, efficient, and well-practiced in moving large amounts of equipment similar to yours with a simple process. You want a team that knows the ins and outs of the auction industry. You want a team that can identify and target your most valuable buyers and reach the highest margins possible.
Welcome to Auction Masters. We’re a veteran team of auction professionals who help businesses of all sizes and across various industries liquidate their equipment for the most valuable outcome possible. Our goal is to find the best market of buyers available for your items. We always strive to provide our clients with a time-effective approach that yields maximum margins. With over 40 years of providing clients with an organized, stress-free selling opportunity that produces real results, we would love the chance to learn more about your business. If you’re looking to liquidate business equipment or reduce your inventory, contact us today. We’ve built our selling model around providing businesses just like yours with the success they deserve.