My business has been fully equipped with equipment and tools, purchased for pennies on the dollar, at auction sales. With the exception of the computer, the vast majority of the office equipment and office furniture that I use, was purchased at auction. It is definitely something that every beginning or established business person can do.
I’m certain that you have heard of bargains that other people have discovered when they go to auction sales. I thought the same thing myself. The other guys always appeared to get the best deals. If an auctioneer was not drawing many bids from the crowd, all that was needed was for me to arrive. Everything sold for double its market value right after that. At least it always seemed that way.
I discovered that I was dead wrong.
Auction sales are one of the most cost effective ways to equip your business. Whether you are shopping for office machines or heavy equipment, there are bargains to be found at auctions. It simply takes a little bit of planning.
First of all, you need to locate the sales in your area that match your needs. Since there are always business closures, bankruptcies, retirements, and selloffs, there are always items available for sale. This holds true at any time, and under every stage of the economy. Good times or bad, there are always auction sales in your area. Be sure to check the local listings in your newspaper and on the many auction sites on the internet. You will be very surprised as to what is available.
While many people scoff at the idea of purchasing used equipment, keep in mind that some of what is on offer is barely used. Finding brand new items is a frequent occurance as well. The bonus is someone else has already taken the depreciation, and you can purchase the item for a fraction of the retail price. That said, you should always carefully inspect the items in advance of the sale, to ensure their quality; or lack of it.
If you need todo maintenance of equipment in your business, or on the business premises, there is simply no substitute for auction sale prices. Tools and maintenance equipment represent some of the very best deals at almost every aution sale. In fact, you can buy so many wrenches and screwdrivers, you will find yourself overrun with them. Exercise caution when bidding in the tool shed.
Price wise, it's easy to overpay for the item you desire. Getting caught up in the auction is easy, and happens at every sale. That $25.00 item that you bid up to $100.00 isn't such a great bargain. That item, based on good conditon, is worth about $10.00 or so at auction. Keep your wits about you and don't bid on foolish frivolous items. I know that I do that myself, but you know better. Right?
While attending auctions is not for everyone, and purchasing pre-owned items might not suit every business owner, it might be the right financial step for your small business. Lowering equipment costs, especially ones where the item is needed, and would have to be bought or leased in any case, is a good idea for any entrepreneur. Cash flow management is essential for maintained liquid capital. Keeping your equipment costs in line will definitely help to keep your cash from flowing away too quickly.
Think auctions and save your business some money.
Just don't let your home get crowded with auction sale flyers.
