Q:

What are the challenges in selling an old backhoe?

A:

Quick Answer

The two main challenges in selling an old backhoe are determining the price at which you want to sell your machine and choosing a way in which to sell it. While choosing a high price and personally selling the backhoe carries a larger reward, auctioning it takes less time.

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Full Answer

There are a few ways in which you can choose a price at which to sell your old backhoe. You can choose whatever price you think is fair for the machine, price it based on the price of similar backhoes on the market or have the backhoe professionally appraised. While having the backhoe professionally appraised costs money, this option gives the best estimate of what a buyer is actually willing to pay for a backhoe.

Once you have a reasonable price estimate for the backhoe, you have the option of selling it personally or in an auction. Selling it personally carries the greatest reward, as the buyer pays you for the backhoe directly and no one else earns a commission. However, finding a buyer for a personal sale can take a very long time, particularly if the backhoe is a very old model not in high demand. While auctioning the backhoe is a much quicker process, the auction agency takes some of the sale price out as a commission.

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