AKRON, Ohio, Sept. 7, 2012 /PRNewswire/ -- It used to be when a company needed a new piece of capital equipment grow their business they just went out and bought new. It's a different story today. With the rising costs of equipment, the need to conserve capital, and increased availability of relatively new equipment from other businesses that have downsized; many businesses are looking to source used equipment. Determining how much to pay for and where to buy that equipment is a momentous problem.
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The availability of online auctions and competent rigging and shipping companies has made for a radical shift in how businesses are liquidated and equipment is bought. Companies don't have to look far to find hundreds of online auction bidding services offering equipment from all over the U.S., Canada, Mexico, Puerto Rico, the UK and Asia. The problem is sifting through all this information to find the exact piece of equipment that they are looking for. This is not an easy job because most auctions only post their catalog or brochure anywhere from one to four weeks before the sale.
The difficulties of knowing What's It Worth? and Where Can I Find It? is exactly why most equipment bought at auction is purchased by dealers who then mark it up to the End User who needs it grow his business. Now these End Use buyers can use services like AuctionPriceResults.com to help them figure out what prices these items are bringing, and just as importantly, where to find them.
AuctionPriceResults.com is in a new class of web sites known as Freemium sites. A lot of the information such as Where Can I Find It? , and How many of the item have sold and where?, is free. It is also free for auction companies to upload their Upcoming Auctions. The price data on what the equipment sold for is what you pay for. Pricing information cost is determined by how many results you choose and the price bracket of the item, with results costing as little as $1.00
"It's a great tool for everyone involved in the acquisition and disposal of used industrial equipment," said Rich Bishop, team member at AuctionPriceResults.com "Our data has helped purchasing managers at large corporations and universities, all the way down to small mom and pop operations that have limited resources of both time and money, to find the equipment they need to grow their business. This information is also a great resource for those involved in selling a business or handling an estate. It's easy to value a business's portfolio by times earnings, but what is the Actual Cash Value of the capital assets?"
Bishop said this service offers data on five categories of commercial equipment: Quality Control Lab/Medical - Industrial Machinery - Agriculture/Construction - HD Truck/Trailer - Food Service/ Production.
Exactly how much is a used 11 ton Cincinnati Shear, A 60 Qt Hobart Mixer, or a Wilson 2002T Digital Hardness Tester worth? Until now, buyers and sellers had to rely on a combination of new equipment prices and educated guesswork. After figuring out how much to pay they were faced with an even bigger challenge: Where Can I Find It? Those days are thankfully over.
SOURCE Auction Price Results