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How to Consign Your Used Construction Equipment

How to Consign Your Equipment

Consignment is an often-overlooked selling method for used construction equipment, primarily because many people are unfamiliar with the process. When you replace your old equipment with newer machinery, getting paid as much as possible for your older model is critical, as it often determines how much you can apply to a down payment on a new machine. Working with an equipment dealer that offers a consignment program usually gets you top dollar for your preowned machinery, especially if that dealer is part of an extensive operating network.

Consignment works by partnering with a dealer that sells your machinery for you. Heavy equipment consignment typically involves big-ticket items. However, anything can go through a consignment program, including tools, attachments, compact construction equipment and larger machines. 

The dealer that sells your equipment takes a percentage of the final selling price, which provides an incentive to get the most money possible. The machine is legally yours until the dealer sells it. You and the purchaser are typically the only parties that sign the sales agreement, as your dealer is only a liaison.

The hassle-free consignment program at Quinn Company allows you to keep your focus on your business’s core operations while we sell your equipment. We have served our customers since 1919 and have a network of potential buyers that spans Central and Southern California and beyond. Our knowledgeable and experienced sales representatives will find buyers for your Cat® and non-Cat machinery at the highest possible resale values.

Why Sell Your Used Cat® Heavy Equipment?

You may have various reasons for selling your construction equipment, including:

  • Your current machinery needs replacing: Older machinery usually performs less efficiently than newer models. While pre-owned equipment may work for some companies in specific applications, your business might need a device with modern technology to maximize efficiency. 
  • Your company no longer needs the machine: If you no longer have a project requiring a specific machine or tool, you may want to consider consignment rather than letting the equipment sit idle. Instead of tying up your investment, apply the funds from the sale to other parts of your business.
  • Your machine is in demand: When equipment like yours is at a premium, it’s likely to sell quickly, especially if your selling price is in line with the market. If you have a device sitting idle or need to upgrade an existing model, the industry demand is usually a quick indicator of a sure sale.

4 Benefits of Using Consignment Over Other Sales Methods

When choosing consignment over other methods — like classified ads or equipment marketplaces — you minimize the amount of work you need to put into the selling process. Selling machinery traditionally involves steps like paying for the inspection, writing an ad, paying to have the ad listed, bargaining with potential buyers and drawing up sales contracts. Allowing a dealer to consign your equipment often results in a quick sale with little work.

Consignment pays off in several ways:

1. Consignment Requires Less Effort and Time

Selling your used machinery on your own requires a significant amount of work and resources. Even if you advertise it for free, you still need to work with prospective buyers, meet with them and take time to transport it to the buyer or pay to arrange delivery. With consignment, your dealer handles all the logistics and marketing while you stay focused on more critical business tasks. 

2. You Can Access an Expanded Market

If you advertise your used machinery in a specific geographic region, it limits the number of potential buyers who view it. When you work with a dealer like Quinn Company, buyers will view your machinery locally, nationally and internationally. Having access to a larger audience often results in a quicker sale at a higher price.

3. Consignment Keeps You in Control

When you trust your dealer to consign your machinery, you still have control over the sale until the deal becomes final.

When you trust your dealer to consign your machinery, you still have control over the sale until the deal becomes final. Although your dealer may recommend a selling price based on current market value, you still have the final say on the cost. This benefit reduces your risk level while allowing you to sell your equipment at a fair price.

4. You Have More Options

While some heavy equipment dealers might handle the consignment process differently, many are open to providing services based on your unique needs. For example, Quinn offers free equipment inspections and can transport and deliver machinery after the sale. In addition, your dealer may decide to buy your machine outright if it fails to sell over a specific time frame.

How to Sell Used Construction Equipment in 3 Steps

Consigning your equipment with a reputable, established dealer typically involves three primary steps, including:

  1. Inspection: Most dealers will evaluate the machinery you want to sell, and some will even perform a complete TA-1 inspection. In addition, the dealer might offer you a price study for your particular make and model to give you an idea of its market value. 
  2. Planning a consignment agreement: You and your dealer will discuss your goals and needs before drawing up the consignment agreement. It will include specifics like selling terms, a timeline, sales responsibilities and commission structure.
  3. The final sale: Your dealer will usually outline the machine’s specifications. They will also handle advertising and promotion, working with potential buyers and negotiating the final deal. 

Tips for Selling Your Heavy Equipment

Although consignment outsources many essential responsibilities and eases the entire sales process, you may still decide to take on the duties independently. If this is the case, some tips you may want to consider following are:

  • Perform the necessary research for determining the market value
  • Clean and inspect your equipment
  • Gather as many specifications for your machine as possible
  • Talk to an industry sales expert to form an action plan
  • Screen all potential buyers

Where to Sell Used Construction Equipment in Southern California

One of the main benefits of using a reputable company like Quinn to consign your equipment is that there’s no need to focus on a particular location or area. We always have customers ready to purchase all construction equipment makes and models, whether our buyers are local to California or in an entirely different region. When you partner with us, we’ll extend consignment advantages that few other dealers offer, including:

  • Quinn takes only 10% of the final sale, putting more money in your pocket
  • You can keep your machinery working while we do the selling
  • We provide free inspections by our certified technicians with qualified consignments
  • Quinn offers flexible transport options for most machinery types, whether your equipment is running or not
  • We have one of the largest sales markets in the world

Contact the Consignment Experts at Quinn Company Today

When you partner with Quinn Company to consign your used heavy equipment, selling becomes simple. Our sales team will handle all the heavy lifting for you and keep you informed throughout the process. Call us at 888-987-8466 or contact us online today to get started.