So, you have thought enough over it and finally made up your mind about freeing up the space occupied by your CNC machine! What next? When selling such a giant, expensive equipment, it might become difficult to know where to start. Though there are high chances you get a good price for your used CNC machine, it can take some time to find the right buyer, determine the functionality and fair price of your machine, arrange for the logistics to transport the machine and get paid. Obviously, you want to make sure you get as much money as possible and sell the machine fast.
Here is a comprehensive guide to getting started with selling your used CNC machine and achieving the best price for your tools.
How to Sell your Used CNC Machine
The Product
The key to successfully selling a CNC machine at the best price is Preparation. Know your machine thoroughly – Type of machine, Manufacturer, Model, Age, Serial No, Service History, Manuals and Accessories available, etc.
Presentation
The next step is to clean and get the machine ready for sale. A general appraisal of the condition is vital. If your machine does not work properly, list the known reasons and faults.
Photographs
Utilize today’s digital technology and capture three to four pictures of the machine from different angles presenting different parts and components. You can even record a video of the machine operation.
Price
Do some research to find out what could be the worth of your used CNC machine. Find similar machines by looking through dealers lists, internet sites, trade magazines and auctions. You can even contact the professional dealer to give you the valuation of your machine according to the model and the condition.
Documents
Next, prepare a sales document including all these information about your machine. This document is very important as it enables purchasers to understand what they are offered. You can also keep manuals, warranty, service slips and other documents ready.
Know your Options
Once you have properly assessed what you are selling, you can move on to actually selling the machine. Here are some of the options and approaches to selling your used CNC machine each with its own advantages and disadvantages.
Machine Dealers
There are so many machine dealers who are looking for old, efficient CNC machines for stocks. They pay good prices for 5 to 10 years old machines as they appeal to foreign markets. To sell your machine with this approach, you should contact at least three dealers in different geographic locations. The advantage of this method is quick payment with clean delivery arranged by the dealer. The disadvantage is that the price includes the dealer’s profit.
Brokers
In recent times, a large number of machine brokers have emerged as the price of machinery keeps increasing. The seller can contact any of the broker specializing in CNC machines and an agreement should be drawn between the two parties regarding the commission payable and other terms and conditions. Such a method works to get the seller the best price as the agent sells it on a fixed commission. It works over a planned period and can get you rid of the old machine before the new one arrives.
Online Auction
This is a great option for those sellers who don’t have much time. It has a higher chance of getting you more money. You can visit the Online CNC Machine Auctions and set the auction date yourself. This lets you empty the floor space by the time its replacement arrives. The benefit is that you do not have to settle for a lower price. An auction is actually a gamble, specifically if you start it too close to the end date. Planning early lets you make the best out of this approach. Online auction is an effective way to sell your piece of equipment and if you are lucky enough, you could be profitable.
Self Marketing
This method has the potential of getting you a good price but the seller needs to deal with the whole sales process himself. It might be difficult to present the tool to the wide market and you may waste a lot of time in inspections by people who may not buy.
One of the easiest methods to get your machine exposed to the market is using an online marketplace that specializes in industrial assets through the internet.
Steps to Sell your CNC Machine
The best way to sell your used CNC machine is contacting an online retailer who takes care of the rest of the things to make sure your machine is sold at the best price with minimum hassle.
Here are the steps to sell your CNC machine in no time:
- Fill Submission Form
Most online retailers offer some kind of simple form to fill out. The form may ask for specifications of your machine and your contact information. After submitting the form, knowledgeable representatives get in touch with you and suggest you the options along with the quick quote.
- Inspection
Once you accept the price offer, the retailer sends an inspector to verify your machine’s physical and mechanical condition. This step takes a few days to complete and gets your machine ready for sale.
- Get Paid
The retailer confirms that the CNC machine inspected matches the stated description and condition and offers you the payment options. In most cases, the payment is made in few days after the inspection.
- Shipment
Now you can prepare your used CNC machine for shipment. You can consider locking down the components and wrapping the machine to protect it during transit. The retailer arranges for the logistics that transport the machine at your preferred time. This ensures that your production flow is not interrupted.
We hope our detailed guide on getting started with selling your used CNC machine helps you get the best price for your tool in quick time. If you have any questions or suggestions, you can share in the comments section below.
About The Author: Curt Doherty is the CEO of CNCMachines.net, aa online CNC Machine dealer with more than 15 Years of experience. His team is committed to making a mark in the manufacturing industry by creating tools and other resources that help the American Manufacturer.