Selling used lab equipment can be an excellent way to recoup expenses. Whether you are investing in new equipment, reducing the services your lab provides, or closing down an entire laboratory, there are plenty of organizations ready and willing to take your used laboratory equipment off of your hands. However, it’s important to take into consideration which selling option is best for you. Selling, consignment, and liquidation auctions are three of the most common options.
Outright sale of a product is typically the most straight-forward. The purchasing organization will typically perform a market-specific valuation and assessment of the pieces of equipment you wish to sell and make an offer. When selling your equipment, make sure there is an established timeline for when you receive payment and whether or not you or the purchaser will be responsible for the removal of the equipment.
Each company’s consignment process may differ slightly, however, most companies will assess, remove, and store your equipment until it is purchased by another party. This method of sale allows you to still free up space in your lab quickly, however, payment typically isn’t received until the item is sold. It’s important to research what companies offering consignment services offer to both you and potential buyers. What percentage of the sale price does the company keep? Do they offer warranties to new purchasers? If so, this could potentially attract more buyers, which would increase the likelihood your products are sold faster.
Lab Liquidation Auctions
Customers who choose lab liquidation services are typically looking to sell use large amounts of equipment in a short period of time. Typically, the organization you choose to organize will handle everything from inventory, to marketing and logistics. The most important differentiator in this category is how large their database of qualified buyers is, the percentage of each sale the organization will keep, and the timeline they can organize for you.