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How Do I Sell My Used Farm Equipment?

Having To Sell Used Farm Equipment Is Something Every Farm Has To Deal With At One Point Or Another.  Whether You Just Upgraded A Piece Of Equipment Or Your Looking To Retire There Are Many Reasons For Selling.  When Selling, We Always Want To Maximize The Return And Fortunately There Are Different Options Help Do This.

Selling A Single Item

So You’ve Just Bought A New Piece Of Equipment And Now Your Wandering What To Do With Your Old One?  Maybe You Don’t Even Sell The Old One, Maybe You Hold Onto It For A Year Just As A Back Up But In The Event You Want To Sell It Here Are Some Ideas To Maximize Dollars.

Listing Platforms

Listing Platforms Are The Like Of Kijiji, Facebook Marketplace, Bargain Hunter And So on.  They Are Often Easy To Use And Generally Provide Good Results For Sought After Items

Pros:

    • Do it Yourself – Take Your Own Pictures, Make Your Own Description

    • Control – Through These listing Platforms, You The Seller Have Complete Control Allowing You To Set Your Asking Price As Well As Accept or Decline Any Offer. 

    • Possible Savings – These Platforms Are Generally Free to List An Item.  In The Event You Are Listing Several Items You May Be Considered A Dealer And Have To Pay A Listing Fee Per Item.  There Are No Commissions Involved, However There Is Also Not As Much Marketing. 

Cons:

    • Time – It May Be listed For A week, It Could Be listed For Several Months

    • Tire Kickers – Time is Our Most Valuable Asset.  Is It Worth The Time To Entertain Potential Buyers

    • Financial Risks – Though We Have Come A Long Way In This Regard And People Are More Diligent In Getting Payment Before Releasing The Items, There Is Still A level Of Risk Involved. 

Pricing The Item

The Most Common Method Of Finding A Value Is The Comparable Sales Approach.   What Better Way To Find A Comparable Than Right Here On Our Website.   We Retain All Our Past Sales Info And Make It Easy To Search.  Simply Go To Past Auctions And Locate The Search Icon And Type In What Your Looking For.

Selling More Than One Item Or The Entire Farm

If You Have More Than One Item or Maybe The Entire Farm, The Methods Above Are Still Viable If You Have The Time. However, We Will Also Outline Different Options To Help Expedite The Process Or Aid In Selling Large Quantities Of Items.

Sell To A Neighbor

  • Maybe You Know That Your Neighbor Is In The Market For Some Of Items Your Selling.   This Can Be Really Good For Creating A Quick Sale, However You Run The Risk Of Just Selling The Valuable Items and Being Left With The Less Desirables.

Sell To A Wholesaler

  • There Are Many Folks/Businesses That Survive On Buying And Selling Equipment.  Again This Can Encourage A Quick Sale Process However You Will Be Likely Selling For A Lower Amount Or Liquidation Value.

Sell At Auction

  • This Avenue Will Generate The Highest Return For The Amount Of Work Involved On Your Part.   However, A Little Time Is Required And Costs Are Involved (Some Examples Of Cost: Commission, Advertising, Set Up, Removal, Clean Up).  A Benifit To Selling By Auction Is EVERYTHING Sells On A Certain Day Also The Auction Company & Sales Rep Handles Majority Of Questions.   Fair Market Value Will Be Attained By Auction.   Learn more About Selling Your Used Farm Equipment With Yorkton Auction Centre.