A digger sale derrick is a heavy piece of equipment that is vital to the operation of various industries for ground drilling. This machine is designed and built to be durable and tolerant under extreme operating conditions, which also explains why it costs so much to purchase.
Fortunately, small business owners who plan on investing in this machine can do so and save money by purchasing through an auction. Following are three valid reasons why it is a good idea to purchase heavy-duty vehicles such as this from a digger sale at an auction venue:
Best Price
The main reason why auctions are gaining popularity is because of the chance to buy items for a low price due to the method of acquisition. This is especially true with major items, such as heavy-duty machinery.
Basically, the price is determined when the auctioneer starts the bidding process at an amount deemed appropriate for the equipment being sold, usually well below market value. From there, buyers on the floor begin to bid on these items, outbidding one another to reach a goal of being able to purchase the vehicle. This process ends when no higher offer is made. At that point, the one who made the highest bid is able to purchase the vehicle for that price.
The ability of being able to control the price of the equipment being sold is a great advantage of purchasing through an auction. Usually, the best deals are made when there is less competition and the price does not rapidly escalate. Of course, this is not always the case and the price can easily go beyond market value if there is high demand for the item.
Quick Turnover
The turnover rate is much faster as compared to traditional sales methods. During these auction venues of digger sales, the equipment is presented to buyers for bidding. From that point, the sale concludes in just a matter of minutes; once the gavel hits, the item is considered to be sold to the highest bidder.
The successful bidder can immediately pay for the purchase with the auction company either in cash or by presenting a pre-approved line of credit from a financial institution if the purchase is being made through financing. All documents pertaining to the purchased vehicle is in the hands of the auctioneer and will be given to the buyer once payment is made.
Numerous Choices
Because the digger derrick truck is a specialized type of vehicle, it is rare for commercial truck dealers to have one on their lot; that is certainly frustrating when a certain make, model or specifications is needed. At an equipment auction, it is very different as sellers are often large companies liquidating assets in bulk which means there are many choices available for buyers.
Tips for Success
Before bidding on any type of mechanical equipment, always take time to conduct an inspection. Most auctioneers allow buyers to inspect and test vehicles prior to the auction in order to determine the appropriate value of the vehicle.
At the event itself, it is quite easy to make the mistake of overbidding due to the intensity and competitive atmosphere. To avoid this mistake, refer to a pricing guide such as the Kelly Blue Book or NADA to determine the value of the equipment based on its condition and depreciation; never bid higher than the indicated amount in these guides.
A digger sale auction is a practical way of purchasing expensive equipment such a digger derrick. It provides an opportunity to buy these machines inexpensively. It is also a quick way to acquire these vehicles, especially when starting a new business venture that needs to be up and running in no time. The benefit of these venues is that they usually have many makes and models to choose from so there are many options and a vehicle that is best suited to particular business needs can be chosen. Hopefully these three benefits to buying from an auction will prove useful in the acquisition of these trucks!
