When Should I Auction My Lab Equipment?
Auctioning lab equipment is a great way to get rid of your old or unused equipment quickly. While there are many benefits to do so, you may be asking: when should I auction my lab equipment? There are many reasons when your laboratory or research facility should choose to auction your laboratory assets. These reasons include if your facility is downsizing, closing, changing research objectives, or upgrading to other new or used lab equipment.
Lab is Downsizing
If you’re making budget cuts or if your research objectives have been completed, auctioning off your unused or idle laboratory equipment can help regain capital on your balance sheets. Surplus lab equipment that lies inactive in a facility eats up valuable lab space. Not only is it hogging up real estate, but it’s also tying up money. A laboratory auction is one of the best ways to solve these issues and regain the money you can utilize for other research projects.
Lab is Closing
If your facility is closing, you need to get rid of all your lab assets. One of the best ways to handle your assets is by selling them on an online laboratory auction. There is an endless number of suppliers and buyers online looking to purchase more pieces of lab instruments. Auctioning your lab assets is also a quick process and can bring in more money than expected. With that in mind, it’s essential to find an experienced lab auction service to handle facility closings professionally. At The Lab World Group, we make sure to handle your equipment safely and take the extra mile to ensure that your whole facility is spotless-clean. If you chose us as a service, you’d also receive the most amount of money on time (See “Final Thoughts” below).
Research Objectives Have Changed
You may be in a position where your research objectives are either completed or have changed. This may require you to buy more equipment and get rid of unused ones. It’s better to auction off your old and unused laboratory equipment because the longer it sits idle, the more it will depreciate, which effectively costs you tens to hundreds of thousands of dollars a year. Auctioning your assets can resolve this and give you more cash to buy equipment or invest in other areas of your research projects.
Lab is Upgrading
Whether you received more funding, your current research objectives are completed, or you want to increase research efficiency, auctioning unused, old, and used lab instruments can help retain more money and free up space. Some research facilities and companies believe that by holding onto laboratory equipment, they may need to use it in the future. However, equipment that is sitting being unused depreciates very quickly and takes up much space, costing you money and efficiency. It’s better to auction off your idle equipment so you gain some capital and don’t lose any money. If you’re looking for ways to purchase high-quality lab products on a budget, take a look at our selection of products here.
Whether your facility is downsizing, closing, changing research objectives, or upgrading to other lab equipment, auctioning will help you regain capital, sell your items quickly, and free up space for other uses. If you’re looking for an experienced certified auctioneer with a team of technical, evaluation, and marketing experts, The Lab World Group is here to help. We want to help you by providing a hassle-free auctioning service so that you can focus on your organizational objectives. Below are specific reasons to use The Lab World Group as your next lab auction service.
At The Lab World Group, We…
1. Inspect and examine equipment onsite.
2. Carefully and safely handle the shipping and delivery.
3. Clean equipment and facilities.
4. Evaluate the value of the assets.
5. Promote and market the auction.
6. Handle and distribute payment.