- January 15, 2024
- By: Tway
- in: Blog
Here are some of the things you need to know when buying or selling used heavy equipment.
There are a number of things and reasons you must consider before making that ultimate decision when buying or selling used heavy equipment.
More often than not, it really consumes much of your time and effort in whichever phase you are in when it comes to decision-making.
In this article, we’ll cut the long process for you to make things a lot easier.
1.) What’s the worth of your heavy equipment?
Rule of thumb, it’s very important to know the price range of your offer or vice versa when you’re buying or selling used heavy equipment.
You must know the worth of the equipment based on the number of years it served its master and how well it can continuously serve its new owner.
Another indicator is the number of times you changed any of its spare parts and how often does it need to be changed.
Identifying what’s the value of your machinery is where you will place your benchmark or at least place your intended budget for your purchase.
You can ask for advice from the experts or check the internet so you’ll get more information about this.
2.) Feel the need in the market.
In the Philippines, there are a lot of construction works going on in any region of the country.
There’s a big demand happening especially that the government is serious in fulfilling its Build-Build-Build promise.
Not to mention, the number of subdivisions and condo units that are sprouting everywhere.
The market is ripe for trade in buying and selling heavy equipment.
So if you have plans in being part of this trade, now is the time.
3.) Target your Prospects very well.
In sales, you must trim down the number of buyers or sellers within reach. Well, just picture in your mind how a funnel works.
From a very wide list of people or companies you have on hand, try to make it smaller and smaller by creating categories.
You can also narrow it down by answering questions on how well you’ll be able to have that purchase.
It’s like you’re niche-ing down to only the top 5 or top 3 choices you may have.
In most cases, this applies more on the buying-side. But if the intention is to save time and effort you can also use this when you’re selling something.
4.) Be open and transparent.
If you need to provide more detailed information about what you need to buy or the detailed specification of what you’re selling, then do so.
Mention the type or model of the equipment, net power, operating weight, maximum digging depth and so on and so forth.
You can also give photos of the bulldozer or excavator so they can view how it appears in it’s present condition.
It pays to provide the necessary information so that the transaction will be flowing easily and not piece-by-piece.
5.) Save what you have on-hand for the future.
With your long list of prospects or the existing contractors you’ve already touch-based with, it’s important to establish good business relationship with them.
Who knows? In case in the future you will be buying or selling another heavy machinery you have, chances are they are the same people you will try to engage with again.
So if you have plans of buying/selling in the next 3-5 years, you can quickly turn to the people you can already trust.
JAGAN Enterprises is here for you.
For 17 years and still counting, JAGAN Enterprises never fails to impress clients. We only provide the best and the finest spare parts you would need for all your heavy machinery.
Through time, we have perfected the formula in making our customers happy and making them satisfied with our service.
So when buying or selling used heavy equipment and you would need some refurbishments, you can count on us with all the spare parts you would need.
Talk to us now and let JAGAN assist you with your queries. Our customer service is ready to listen.
Check out other related articles on our website: Tips In Finding The Best Heavy Equipment, How To Set Up a Construction Site From Vision To Reality, Having A Construction Business In The Philippine Landscape