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Consider Heavy Equipment Auctions On Ebay

from: Sydney S. Johnston

Heavy equipment auctions are a fascinating and little known


niche on eBay. "Heavy equipment" refers to the machines used for

manufacturing, industrial, farm equipment, the food industry,

printing, electrical, etc.


There are two kinds of equipment sold - new and used - and

successful heavy equipment sellers on eBay fall into two basic

categories:


First, they are already in the industry and use eBay as an extra

channel for selling their equipment.


Or, smaller sellers will focus on locating and auctioning used

and second-hand equipment, usually on a consignment basis. In my

early days on eBay, I sold this kind of equipment, locating it

in industry publications or in our local newspapers. At no time

did I own any of this machinery, but merely sold it for others

who were unfamiliar with eBay and online sales and needed

another sales outlet.


You will need at least some knowledge about what you're selling.

Your audience will mostly professionals and they thoroughly

understand what they're buying. If you don't speak their lingo

you will lose sales unless your prices are so low that nobody

cares what you know.


There are some strong pluses for this kind of auction product.

For one thing, all those who look at your listings are potential

buyers and thus you will be spared the usual gawkers and

freebie-seekers that haunt so many auctions and websites. The

average person has no interest whatsoever in this kind of

auction and will therefore not waste your time.


If you already sell this kind of equipment, eBay is wonderful!

It is much cheaper to sell on eBay, rather than maintain a

physical location, so you can undercut other brick and mortar

competition.


Here's what you need for success in heavy equipment auctions:


1. You need a good reliable and steady source/supplier of heavy

equipment.


2. Your equipment has be stored somewhere. You can't keep an

industrial crane or a backhoe in your garage so if you're going

to own or lease your equipment, this will be an added expense.


3. You should be prepared for a couple of months without any

sales in the beginning. You might make some money quickly, but

don't count on it.


4. It helps if you have a reputation. Investing $100,000 in a

piece of equipment requires a leap of faith and unless your

offering is truly extraordinary chances are most buyers won't

want to take a chance on you. Heavy equipment auctions are meant

for companies and professionals and placing a bid on the heavy

equipment auction of an unknown seller might be a risky

decision. If you have feedback from any other area of eBay, it

might help.


5. You will need to offer shipping if you want to maximize your

profits. You can choose the "pickup only" option but you are

certain to lose many potential customers. This doesn't mean that

you will have to personally oversee shipping, but you will need

to know shipping companies and be able to advise your clients.


If you feel comfortable with this kind of auction, you need to

prepare your listing and offer. Pay great attention to these

areas:


* You need pictures, pictures and more pictures. Ensure that

your pictures are clear and sharp and cover every detail of the

equipment you're wishing to sell.


* Detail everything about your equipment. You don't really have

to "sell" in these auctions because the potential buyers already

knows what he's looking for and it's quite specific. Basically,

you're only trying to persuade him to choose your machinery over

someone else's and generally there aren't huge numbers for him

to choose from at any one time. This is a serious, big-time

investment for the buyer and you want him to be impressed with

you.


* Offer a pre-purchase inspection, if desired.


* eBay makes it easy to get financing for expensive equipment

and you need to cooperate with a prospect by directing him to

appropriate financing, if necessary.


* You absolutely must offer some kind of warranty and it should

be based on more than just your word. For instance, an escrow

service might be appropriate or you might be bonded or a member

of an organization that offers such a guarantee.


By knowing the rules of the heavy equipment auction, you might

make substantial money from only a handful of auctions.


About the author:

Figure out profitable and unusual eBay niches instead of

competing with hundreds - or thousands - of other sellers in the

'hot' categories. <a

href="http://auctionknowhow.com/auctionsonlineebay">Auctions

Online: eBay</a>

 




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