If you are closing down a factory, upgrading your equipment, or moving to a new space, what should you do with your unneeded, used packaging machinery? Don’t just haul it off to the junkyard; instead, you can sell your used equipment or parts to make a profit.
However, selling used equipment isn’t easy unless you already have a relationship with a reputable buyer. Where do you start, and how do you know who to trust?
Learning from experts in the industry is the best way to make sure you are getting a favorable deal. A packaging equipment company like HP Packaging can purchase your used processing equipment in any condition and repair or refurbish it for future use. If you have questions or concerns about the selling process, we’re here to help.
Selling Used Packaging Equipment? Avoid These Mistakes
As you search for the right buyer for your used processing or packaging equipment, avoid these mistakes.
Mistake #1: Not Doing Your Research
The first step to selling any product or machine is to do your research. Not only do you need to have an idea of a fair market price for your equipment, but you also need to create a list of potential buyers.
Several factors are important when determining a price range for your used packaging equipment, including year of manufacturing, working condition, and type of machine. Searching for sales of similar equipment will help you establish your market price and ensure both parties are getting a good deal.
Mistake #2: Assuming Non-Functional Equipment is Worthless
Packaging machinery experts should be skilled in both repair and refurbishment of all kinds of equipment in many different conditions, both heavily used and otherwise. Don’t assume that your machine—or its parts—are worthless because they don’t function like they used to. Talk to leaders in the industry to see if your inoperable used packaging machinery can be fixed or refurbished.
Mistake #3: Considering Just One Buyer
Don’t just sign a contract with the first buyer to make you an offer. Compare quotes from a variety of buyers to get a better idea of how much your packaging equipment is worth.
Additionally, keep in mind that money isn’t everything. Some packaging equipment companies will include services like collection and transportation in their quote, while others will charge you extra. If you sell used packaging equipment to a buyer that does not offer these services, you’ll have to factor in that additional cost.
Mistake #4: Selling to Non-Experts
There are many reasons we recommend selling your used packaging machinery to an experienced packaging equipment dealer. Working with experts ensures you will get the most bang for your buck—because they can work with equipment in any condition, they are more likely to make you an offer. They also have large networks of potential buyers, which means less risk on their end and more profit on yours.
Find a trustworthy packaging equipment company that buys and sells used packaging machinery so you know they will have your best interests in mind.
Mistake #5: Providing Insufficient Documentation
Proper documentation will speed up the packaging equipment selling process. If possible, note the machine’s model name and number, year, specifications, and any other details a potential buyer might need to know in order to provide you with an accurate quote.
As part of your documentation, include photos and videos of the machine. Not only will photos give potential buyers an accurate view of the model, but they can also be used to clarify any later disputes over the machine’s condition.
Mistake #6: Not Reading the Contract
Always read the entire sales contract before signing, including any fine print as well as the terms and conditions. If you are unclear on any part of the contract, get it reviewed by a third party or ask for clarification.
Buy and Sell Used Packaging Machinery and Equipment at HP Packaging
At HP Packaging, we purchase used packaging machinery and equipment from a wide variety of industries—no matter what condition it’s in. The highly trained experts on our team can repair, refurbish, and recondition all types of used processing equipment and give old machines new life. Whether your equipment is heavily used or simply in need of an upgrade, we will pay top dollar for your used packaging machinery.