The Best Way to Purchase Heavy Equipment at Auctions!

There are times when the best way to acquire a digger derrick truck is through an auction house. In fact, this alternative method of purchasing items is familiar to many who purchase all sorts of reconditioned or used vehicles at such a sales venue. If purchasing from an auction is being considered for the first time, some research may be required. Following are some important tips to help anyone using this sales setting for the first time that will hopefully lead to a good experience and great success in finding necessary equipment at an affordable price.

Determine Need

First and foremost, it is important to have a well-formed idea of what is needed from the sale. For example, when looking for a digger derrick, a buyer should be equipped with proper knowledge about the item being offered. If lacking knowledge in this area, a technician should be sent to inspect the vehicle being offered. It is also very important to know the budget limits for each purchase being considered. The quality and the accessories that a digger must have should also be determined ahead of time. Anyone bidding with such knowledge will not increase the bid on an unknown item and suffer a costly mistake if the equipment being offered does not meet the pre-determined needs criteria.

Visit Auction

Once all homework has been done and a budget has been determined, it is time to look at the vehicle in person. Dealers usually allow for a preview of all units being offered for sale the day prior to the auction. Take advantage of this opportunity and go to the auction site to inspect the specialized equipment of interest such as a digger derrick truck. Be sure to get the vehicle’s history and any other available information. At least sit in the driver’s seat and start the vehicle to be sure that it is operational.

Research Resale Value

Once most vehicle details have been reviewed and any vehicles examined at the auction lot, it is time to get on the computer and do some research. Go to some of the useful websites, such as the one for Nada, and review the potential resale value of the truck, especially the low value and the high value. This figure can serve as a basis for which to determine the proper amount to bid. Unless it is really necessary, do not bid above half of the low resale value.

Organize all notes, along with any catalogs, identification cards or driver’s licenses in one large envelope or expandable folder and bring that along with a pen to the auction on the sale day.

Be Early

Although most customers show up about an hour prior to the time of the sale, it is a good idea to arrive at least two hours ahead of the sale start time or whenever the auction site is open to the public. This will allow for adequate time to take a last glimpse at the item of interest. Early registration with the auction company will also provide additional time to fill out all necessary paperwork. Information provided by a customer is usually recorded in the auction company’s computer system as confidential information. Once all necessary information has been supplied to the registrar, a bidder card is provided.

Bid Wisely

At the start of an auction, the equipment is driven to the sales block where the bidding begins. Once the bidding for a certain item has ended, the auctioneer will usually say “SOLD” along with the winner’s number. This number is handed to the clerk for verification with the recorded information. A buyer pays for the items that were won by the bid and all necessary paperwork is completed before being allowed to leave the site. The equipment can either be removed at that time or delivered to the purchaser at a later date, once payment has cleared and the auction company has completed any other necessary paperwork.

It should be remembered that many expert buyers, dealers, restorers, and others will be at the same location as well as any first time attendees. Using the important information provided above, first timers can gain an important advantage and, at the end of the day, hopefully have found the best way to purchase heavy-duty equipment at an auction!

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