Tips for Maintaining Heavy Equipment Resale Value
Most of the owners of heavy machineries look to sell their machine before its life comes to an end. It has been observed that heavy equipment are generally sold at the end of a big project, for purchasing a more specialised equipment, to upgrade to a more recent model, or upon the retirement of the equipment owner.
While selling heavy equipment, the price depends greatly on the condition of the machine. This price is also determined by factors such as brand recognition, supply and demand, access to buyers, and marketing expertise. Though you have no control over these market related factors, you can certainly take steps for maintaining your heavy equipment resale value.
Here are a few things you can do to enhance the value of your old heavy machinery.
- First of all, ensure proper maintenance for your equipment, both regular and preventive. If you want the equipment to perform at optimum levels, the importance of maintenance is immense. Regular maintenance will help you identify and replace parts that are at the end of their life or have suffered excessive wear, preventing unexpected and expensive breakdowns. Always refer to the manufacturer’s maintenance manual while creating your maintenance schedule. All repairs, service, and maintenance should be documented thoroughly in a log book. This will come handy while selling the equipment.
- If you intend to sell it in the future, purchase your heavy equipment from a reputable manufacturer. Equipment from the top-tier manufacturers are always more attractive to your potential buyers. On the other hand, if your heavy machinery is from a company with little brand recognition, it will be more difficult for you to get a good price. Don’t forget to keep the manufacturer’s guides, manuals, and even the original invoice of sale in an organised manner.
- Never use your machine for purposes that it was not built to perform. Strictly adhere to the manufacturer’s guidelines and ensure that all your operators are well acquainted with these guidelines. Also, the equipment should only be handled by properly trained operators because abuse and misuse can lead to rapid equipment depreciation. If possible, avoid using the equipment in harsh weather conditions.
- Have your heavy equipment repaired only at authorised service centres. This will ensure the use of only OEM parts by factory-trained technicians. Maintain record of these work orders because the sellers are likely to pay more for well-maintained equipment.
- Finally, do whatever you can to make your machine look as valuable as it actually is. A worn out interior and dirty exterior can easily reduce the price of your equipment significantly. Therefore, clean the machine regularly so that it looks attractive. When the choice is between similar models and makes, the buyers are more likely to opt for a machine that is well maintained and freshly painted.
If you want to find out more about your used heavy equipment and its maintenance requirements, please contact us at K and G Machinery. We offer wide range heavy equipment for sale as well as hire