Putting a bit of time, effort and money into fixing up a machine has the potential to increase the item’s resale value and help sellers get more money back. In many cases, the costs of making a few repairs are counterbalanced by the higher profit. But it is also important to understand that sometimes, it may not be worth spending money fixing up a sale item.
Some Maintenance is a Must.
Minor repairs and maintenance such as changing the fluids in an engine or replacing a cracked window are relatively simple and won’t break the bank regardless of how old or worn a piece of equipment is. Not only will these small touches possibly increase the value of an item, they can also help to draw in potential buyers who are browsing listings on equipment websites.
Is the repair worth it?
When it comes to major fixes or replacing expensive parts, sellers should weigh their options. For an older item that may not have a high resale value, repairing an issue might not increase the profit margin greatly enough for this to be a viable decision. This means the money spent will detract from the profits a seller makes when the item sells.
So how does a seller know when major repairs will be worth the expense?
Expert Heavy Equipment’s free pricing resource service can help them determine the market value of the equipment based on the current conditions and sales data. Armed with the knowledge of a reasonable expectation for their equipment, sellers will be able to decide if shelling out the extra cash would be worthwhile.
It is important to note that a major repair would improve the market value of an item. However, sellers may be better off calculating the cost risk based on the initial estimate. This can help them make a more informed decision and reduce the risk of spending too much to repair used equipment. When sellers are considering getting work done on their machines, they may want to do so prior to having a company or potential buyer inspect the merchandise.