When a company has gone out of business and has to vacate its premises quickly, more often than not, their tools, machinery and equipment are sold at auction. Likewise when businesses buy new equipment, the old equipment is often put up for auction.
Machinery auctions are not widely advertised even though hundreds of them take place each year. If you want to pick up a bargain for your business you need to be in contact with someone who is involved in the second hand machinery business. Because property management companies are sometimes left with the machinery from a failed business in the buildings they own and leased to that failed business they are quite heavily involved in the 2nd hand industrial machinery business. It is in the interests of the property management company for the building to be cleared of industrial equipment so they can re-rent their building.
If you are just looking for general tools and equipment, browse on-line lot catalogues. Occasionally you will see bigger pieces advertised on-line, but most of the time it is only small pieces of machinery and equipment that is sold this way.
When you attend a machinery auction it pays to be prepared. If there is a lot you think you may want to buy try to see the actual machine you will be bidding on prior to attending the auction. That way you have a good idea of that machines condition and are less likely to end up buying something that is not suitable. Take some means of paying a deposit such as a company cheque book.
If you are planning to buy at a machinery auction be sure of what you are buying. If possible look at the machinery before you buy, in situ at the old business. Something that is often possible. Check that you can still get parts and get the machinery maintained. Ask the current owner to tell you about the machines maintenance record any issues they know of with the machines, by law they are obliged to tell you the truth about these things. If you have big problems you can use this information to try to get some compensation.
Looking for the best property auctions?, then visit us for guidance and details regarding property auctions yorkshire today.
Comments are closed.