2 Things to Do before Buying Auction Construction Machines

While many construction contractors prefer purchasing construction equipment brand-new straight out of the factory, some prefer purchasing second-hand equipment as a more affordable solution. Some take it as far as going to construction equipment auctions to buy what they need, and generally for the same reasons! However, even when buying such equipment from auctions, it is still vital to consider the things you would normally consider when purchasing in any way. For example, you need to make sure the equipment’s worth its money and make sure it meets your needs. In addition, knowledge about the seller is needed to ensure your budget doesn’t end up at zero and your needs are still not fully met when the auction is over.

If you are interested in purchasing construction equipment at an auction, here’s what you need to do to maximise your chances of success:

1. Know the cost

One of the most important things you need to know about the machines you want to buy is the cost they usually come in. This is because you wouldn’t want to end up overpaying for a machine, leaving you with less money to purchase other equipment. Knowing the price series of different equipment regarding their age, functionality, and even hours will help you stay competitive and know when to back off when the price is going higher than you’d like. They’ll also help you understand when a machine is worth its money and when it isn’t, ensuring that the equipment you finally do buy wasn’t overpriced.

Apart from the cost of the machine, do not forget to consider other things like transportation costs and buyers’ fees, if any. These all take away from your overall budget, and ensuring everything is accounted for will help you make better purchase decisions.

2. Research the seller

Knowing the cost and understanding the machine is essential, but what’s also important is knowing the seller you’re buying from. Knowing how they work and how they go about the business will help you understand the various ways the machine was used. This gives you a rough idea of how the machine was treated, helping you develop a rough value you believe to be a good price for the machine they are trying to sell. For instance, if you know that the seller is a quarry contractor, you understand that their machines will have much more wear and tear than those that simply focus on moving earth.

When researching a seller, look at things like the standards they follow when maintaining their fleet, what kind of construction clients they work with, and more. It’ll provide you more insight than an auction’s report can provide, helping you make the right investment.

Conclusion

Now that you know what to do during an auction, go ahead and put them into practice. The more you participate in auctions, the better you’ll get at deciphering the machines being auctioned and understanding which one is worth what. Of course, if this is your first time, you will feel uneasy and even nervous doing so. However, proper and thorough preparation and planning can help you feel at ease and make the right decision, so don’t skip researching the seller and understand what contributes to the machine’s overall cost and value!

Construction Equipment UK specialises in supplying late low-houred rigid and articulated construction machines from leading construction equipment manufacturers. If you are looking to buy construction machinery, check out what we have for you!