If you are in the market to buy a machine online there are two things you need to consider:
- Buy the machine(s) you need from an ethical seller.
- Determine what the current market values so you don’t overpay.
The second point is driven specifically from the first point. If you buy a machine from an unethical seller then chances are you over paid.
So the next question is ‘How do I avoid unethical online sellers’? Well here are some red flags that should send you running:
- If the seller doesn’t supply you with a complete set of photos. An example would be a dozer, the seller should send you photos of multiple track links and pins, rollers, idler pulleys, sprockets, engine, controls, etc. **Contact us for a photo guide, firstname.lastname@example.org.
- If the seller pressures you to buy ‘RIGHT NOW’.
- If the seller cannot honestly answer questions about the machine.
- If the seller is not the original owner and doesn’t check the machine through NICB or NCIC databases. A 2014 National Insurance Crime Bureau (NICB) study* indicated that an estimated $300 million to $1 billion is lost nationwide due to construction theft and that only 23% of it is ever recovered by law enforcement. Obviously if the machine is at a dealership or a reputable company, then the machine is safe to buy.
Now it is understandable that every seller may not have all the answers to every question, but the red flag is when the seller is clearly lying. For example, if you considering a dozer that has 10,000 hours and looks new, but the seller says the paint is original……then that is clearly not true.
Some of these red flags are common sense but some of them are not. Be educated and be conscious. If you need any help on determining market pricing, contact us. The pricing report is free and without any obligation.