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Consider Heavy Equipment Auctions On Ebay
from: Sydney S. JohnstonHeavy 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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