Advantages of Selling Farm Equipment at Auctions

November 07, 2017

Farmers have to rely heavily on equipment and other machinery to lessen the bulk of work in their respective farms. Over the years, the industry has evolved not only in terms of new crops and techniques, but also with the introduction of more modern equipment. This sometimes ends up in a situation where farmers have excess equipment lying about in the farm. This could be because they want to buy a new one or they want to upgrade to a newer and better model. Instead of just disposing these items, reselling them will help farmers to recoup at least a fraction of the costs involved when purchasing them.

Auctions of farm equipment have become fast, efficient, and cost-effective means for farmers to dispose of machinery that are either excess or are no longer being used. Events like these tend to pre-qualify bidders ahead of time. So, sellers can expect that the auction is going to be one setting for truly serious buyers.

Efficient and simple
When one chooses to sell farm equipment individually via treaty sales, the process can be quite exhausting. It is time-consuming too. When the items are being presented at an auction, the process involved is much simpler. It also gives the seller enough time to focus on more important matters such as actual farming instead of worrying about how to get his excess equipment liquidated.

Cost-effective
The best thing about auctions is that they provide a cost-effective, easy, convenient, and fast venue to get excess inventory liquidated properly. The sale is set at a specific time and place. There is also guarantee that the items are being sold to a specific crowd of buyers that truly have an interest in buying the products.

Takes away the financial risk
When bidders choose to sign up for these auctions, they are already pre-qualified. This means that they really do have a strong interest in the items to be auctioned and that they are going to have the necessary means to pay for any item if they decide to make a purchase. That does not only speed up the buying process, it removes the stress often involved with late payments.

People aren’t there to just browse
Pre-qualified bidders who attend these auctions are there with the intent of actually buying something and not just browsing. Their intent is to make a purchase when there is a specific item that they like. With everyone in the audience considered as interested buyers, the possibility of you liquidating every single item you have being auctioned is also very high.
                                                                                                                      

If you are in need of some guidance on whether the farm equipment you own is going to qualify for auctioning or not, Ian Whittock at Evoque Claims and Appraisals can assist you. With 18 years of insurance and client knowledge under his belt, he will be more than happy to walk you through the process of getting appraisals, making a claim, or getting your items prepared for auctioning. 

More information about Ian Whittock and his work is found here. Follow Ian Whittock on Twitter here.


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