When you’ve decided to invest in new farm equipment or liquidate your farm altogether, an auction is one of the most efficient ways to sell your old machinery. Farm auctions attract a wide pool of potential buyers to compete for your items, driving up the price and getting them off your hands in a single afternoon.
Although your auction company will take care of most of the preparation when you choose to auction off your farm equipment, there are still a few measures you should take ahead of time to ensure you walk away with the best value for your pieces!
1) Choose the right auction company.
If you want to get the most money for your equipment, you need to partner with the best company for the job. Do some research into auctioneers in your area, looking for those who have experience in farm auctions specifically. Choose someone with an extensive local network, good reputation, and the marketing plan and resources necessary to get you top dollar.
2) Complete quick fixes.
Minor issues with your farm equipment can drive the price down significantly at auction. Taking care of these simple repairs and touchups before you sell will likely pay for itself twice over! Replacing broken lightbulbs, new sparkplugs, a fresh paint job, and even just a good cleaning can make a world of difference in the final price.
3) Have your equipment appraised.
Once it’s in the condition in which you plan on selling it, have a professional evaluate what your equipment is worth. If you’re working with an auction company that specializes in farm equipment, they may be able to do this for you or set you up with a good appraiser. Having your equipment appraised is a good way to ensure you’re getting what it’s worth and will help you go into your auction with realistic expectations.
4) Photograph your items.
Having quality photos of your farm equipment for marketing materials will improve your advertising efforts significantly. Pictures of your equipment online, on flyers, in brochures, etc. will help generate interest for the auction, so more people attend and bid. The more competition you get, the higher the final price tag is likely to be. Make sure you’re photographing your pieces in good lighting, against a clean background, and at a variety of different angles for the best presentation possible.
Did you know that Smith & Co. Auctions & Realty holds over 100 auctions every year that attract thousands of potential buyers from our extensive mailing list?
Our experienced professionals specialize in selling real estate, farm land, and farm equipment throughout Woodward, OK, and surrounding areas. With our wide-reaching network, resources, and know-how, we guarantee we’ll be able to sell your farm equipment quickly and for the right price.
Contact our team today to learn more about how we can help you sell!