by Tom Noonan, EquipNet, Inc
Check Your Schedule. When charged with selling idle equipment, your first question might be: “How much time do I have?” With asset management, the early bird definitely gets the fattest, juiciest worm. The more advanced planning you can do, the more liquidation options you have, which in turn help determine the strategies to employ if you decide to go to auction.
Assess the True Value of Your Assets. Knowing how much your equipment is worth and who might want to purchase it is critical. If no one needs or wants a $500,000 piece of machinery, it may not be worth anything but the metal it’s made from. With values determined, you’ll be able to place your items into various potential disposition buckets, including internal redeployment, negotiated sales, immediate clearance, and scrap. This allows proper planning for the type of disposition events (including auctions) you may want to pursue as you move closer to your deadline.
General merchandise websites such as eBay Stores—If you want to sell assets in a timely manner and stay in control of the sale price, something worth mentioning is that eBay also gives you the choice to sell ‘Buy-It-Now’ items with the option to “Make an Offer”. In turn, buyers have an opportunity to purchase pre-owned equipment at a pre-determined, non-negotiable fixed amount at a considerable cost savings over the price of new equipment
SELECT A STRATEGY AND CREATE A PLAN
© The Investment Recovery Association