Bucket trucks are an important type of equipment used in various applications such as power line maintenance, orchard harvesting, construction, and many other industries. Like most heavy equipment, acquiring a bucket truck requires a large investment; however, there is one method of purchasing these vehicles that can lead to a significant discount and that is through an auction.
Most equipment that is sold through an auction is previously owned just like those handled through a dealership; however, there is no set price for equipment being sold at an auction. Bidders are the ones who dictate the final price of the vehicles; therefore, it is possible to acquire bucket trucks at a price below their actual market value.
Explained below are details about two of the different types of auctions: live and online.
Live Sales Venues
Bidders are required to come to an actual location that has been designated by the liquidator in order to participate in this type of event. All bucket trucks being sold are available at this venue and can be inspected and tested on site. Using this method, equipment to be sold is presented to the bidders. Registered participants are welcome to join in the bidding. The person who offers the highest bid gets to purchase that vehicle.
Buyers have the advantage of inspecting the equipment prior to the start of the event. This is particularly important because most bucket trucks sold at an auction are sold on an “as is, where is” basis, so buyers must be sure that the vehicle is worth any projected bidding amount.
The only downside to a live auction that is held at a certain location is that participants must spend time and money to travel to that site to participate. The vehicles being sold will also have to be transported to the site, although there are many occasions when these events are held in an area where the majority of this type of equipment is already located in order to eliminate transportation.
Online Sales Venues
Just as the name implies, this method of selling merchandise is done over the internet. Interested individuals can participate simply by registering on the website of the event’s host. The host is the one who specifies the date, time and duration of the event. When the bidding begins, participants can outbid each other just as at a live event. Once the allotted amount of time comes to an end, the highest bidder gets to purchase the equipment.
The advantage of an online auction is that participants do not have to travel to a certain location in order to participate. In addition, sellers do not have to spend a great deal of time and money getting bucket trucks to the venue to be inspected by the bidders. A photo of the equipment, along with any specifications, is posted on the auctioneer’s website. The actual location of the equipment may also be given to interested parties who want to conduct a personal inspection.
Another advantage of an online auction is that buyers have a convenient method of choosing from a wide variety of bucket trucks based on the make, model and specifications that meet necessary requirements. Buyers can easily participate and purchase equipment that is located halfway across the globe if so desired.
There are times when both live and online auctions are done simultaneously in order to accommodate a larger number of bidders and ensure a successful sale. Hopefully this article has provided some basic information as to the multiple choices buyers have when purchasing bucket trucks through an auction company!