How Asset Auctions Extend the Lifecycle of Commercial Equipment

Commercial equipment comes in all shapes and sizes, from CNC machinery to food processing lines. Typically, there comes a time when these items become obsolete, whether that is due to a company shutting down, relocating or upgrading to newer models.

When it is time to dispose of the equipment, many will choose to send it to a landfill site, but selling it at auction could be a much better option. This allows the asset’s lifecycle to be extended, which can be beneficial to both the industry and the planet.

Paul Cooper, Director at Eddisons Asset Auctions, takes a closer look at how this process works and the associated benefits. Continue reading to learn more.

How do Asset Auctions Extend the Commercial Equipment Lifecycle?

Asset auctions are a vital part of the circular economy, a concept that promotes the reuse of unwanted goods instead of sending them to landfill sites. The circular economy usually follows this process:

Make

Create products that last and can be reused for years to come. Durable and easily repairable designs set a strong foundation for a circular economy.

Use

Use commercial equipment for as long as possible, taking proper care and carrying out basic maintenance at regular intervals.

Reuse

When a piece of equipment is no longer needed, it can be sold at auction to another business to continue being used for years to come. Sellers can recoup funds, while buyers can get items at low prices.

Recycle

Commercial equipment that can no longer be used due to mechanical issues is broken down and recycled. The various components can then be used to make new models, which will have their own circular economies.

Why Does Extending Commercial Equipment Lifecycles Matter?

• Cuts environmental impact – Less waste, lower emissions and reduced resource use

• Save money – Delays buying new machinery, better value from your investment and lower total cost of ownership

• Meet ESG and sustainability goals – Life extension supports net-zero and waste-reduction targets, demonstrates responsible resource use and can be part of your sustainability reporting

How Are Assets Sold at Auction?

Contacting a reputable online auction site is the first step when you are ready to sell your goods to extend their lifecycle. They will send RICS-certified valuers to your site to assess, itemise, value and photograph your assets.

Your equipment will then be listed on a bidding platform and marketed online and in physical spaces to attract prospective owners. These will typically be others within your industry who are looking for quality machinery that they can reuse.

Bidding will open on a pre-agreed-upon date and close after a specific period of time. The auction winners will then collect the assets and transport them to their premises to be used again.

Consider Asset Auctions if You Want to Dispose of Equipment Sustainably

If you are ready to dispose of your assets, choose online auctions to extend their lifespan and recoup vital funds for your business in the process.

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