5 tips for successful remarketing of machines
In our former article we discussed 5 common mistakes made during re-marketing of machines. In this article we give 5 tips for successful re-marketing of machines in Bulgaria. In addition to the 5 tips we are also providing 3 direct links with possible re-marketing partners, who can facilitate success.
5 tips for successful re-marketing of expensive machines and equipment
- Focus on standard equipment
The first tip for successful re-marketing starts with the initial purchase of the machines. Try not to buy “custom made” machines and equipment. More “specific” machines cost more to buy and when re-marketing is needed, they are sold harder, slower and will cost less than standard makes.
- Do not dismantle the equipment and make efforts for its proper storage
The re-marketing of machines and equipment, which can be operationally tested, is much more easier and the re-marketing prices are the highest. The disassembly of the machines may decrease the re-marketing price with as much as 70%. If disassembly is combined with bad storage, the re-marketing price may drop to that of scrap.
- Find a good internet platform for re-marketing of machines and equipment
When we are looking for something, Internet is the first place we check. Even if we have a different approach, today’s standard buyer does just that. The important thing here is to find an internet platform, which is specialized in the re-marketing of machines and equipment.
The re-marketing of the “Abkant” next to “Running shoe promotions” /see a screen shot of olx.bg / is not wise. Seek out a PROFESSIONAL platform for re-marketing of machines and equipment.
- Get exposure of your re-marketing offer to the widest possible international audience
Having a professional platform is not enough. This is especially true for the Bulgarian market. The limited investment power and relatively small market strongly curb the possibility for re-marketing the unneeded machine. Get international exposure of your re-marketing offer.
- Professional administration of the re-marketing process
Last, but not least. The administration of the re-marketing includes collection of the machine documentation, taking of professional photos, making of a correct evaluation, choosing the proper marketing strategy, organization of asset reviews, and such “minor” but important administrative tasks. Success in re-marketing is strongly dependent on them.
Which platforms currently exist on the market
Local Bulgarian solutions
In Bulgaria a few specialized sites for re-marketing of machines and equipment exist:
Sadly, not one of them is popular beyond the boundaries of Bulgaria /some of them do not even have an English translation/. This may not always be such a big obstacle. If the other 4 tips from above are met and the machines are “not very expensive”, e.g. have at least some secondary market in Bulgaria, success in re-marketing is possible.
However, the fourth tip from above is important for reaching the highest possible market price. If our re-marketing offer reaches 100 Bulgarian companies who may need this specific machine sometime, but exactly now do not have the liquidity for purchase, the odds of success in re-marketing are low. Actually if the re-marketing succeeds it will be due to a price which is far below the market price. It is exactly the price for re-marketing which is mostly influenced by the international market. It is exactly there, that the seller of a machine may reach the best results, or rather – the highest possible price. The reason – reach of much more potential buyers.
If you need to re-market expensive /above EUR 50.000/ machines and equipment, it is reasonable to use an internationally popular internet platform for re-marketing of machines. In this way your offer will reach more potential buyers, which will increase the chances for a quick sell at the highest possible price.
Sadly, again due to the limits of the Bulgarian market, there are only but three such companies, who offer their services in Bulgaria:
Richie Bros are the leading on-line auctioneers in the World for used machines and equipment. They are a Canadian company established in 1958. Their sales in 2014 exceed USD 4 Bln. Richie Bros are especially strong in North America. They also have branches in Western Europe. Sadly they do not have a Bulgarian branch and their nearest office is in Munich. Never the less, in the event of having to re-market an expensive machine you may contact them.
Iron Planet are an American professional internet platform for re-marketing of machines and equipment. Shareholders in the company are Komatsu, Volvo Construction Equipment and Caterpillar, which to a certain extent defines Iron Planet’s profile in re-marketing – heavy construction and excavation machines. One of the advantages of Iron Planet is the evaluation on site by their experts and the issue of a quality certificate by Iron Planet. Thus the buyers in the auctions may be certain what they are buying even without personally seeing the machine. Similar to Richie Bros., again they have strong penetration in North America and Western Europe. It is obvious that the company is considering the Bulgarian market, as internet commercials of Iron Planet may be seen on popular Bulgarian web sites. However, their penetration of the Bulgarian market is limited. At the moment of writing the present article there were only 3 Bulgarian offers on the platform.
NetBid is the only European auction house among the leading in the World. The history of the company may be traced back to 1925 in Germany. Beside heavy construction and excavation machines, NetBid is actively selling used assembly lines and equipment from all industries. This is also the only international auction platform with representations in CEE and … in Bulgaria. This greatly supports the “professional administration” as discussed in the tips above.
We wish success of our readers in their re-marketing efforts. Using the above 5 tips will considerably enhance your chances of success.
The article “5 tips for successful re-marketing” has reached you free of charge due to the efforts and experience of the “Virtual Experts” in “Re-marketing” of AVS Bulgaria. If this article was of use to you, you may subscribe to our blog “Effective Office”, where we will also appreciate your comments, ideas and suggestions.
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