Do Not Focus on Getting a Warranty
Not overbidding is easier said than done. However, even if another party keeps driving up the price of the product you need, set a bid limit and do not exceed it. Ideally, the bid limit for industrial grade tools should be the fair market value (FMV) based on its brand, age, state of wear, and technology.
– Is all the machinery and equipment secure and properly set up?
A professional event is one where professional sellers sell machines, not amateur sellers who buy from other auctions, and then try to turn a profit. When non-professionals sell industrial machinery, the buyer often has difficulty discerning the quality or complete condition of the product, as the seller is also unaware of the product’s quality.
– Are the work surfaces overly cluttered and possibly hiding sharp edges or blades?
– Are there any overhead hazards such as people on ladders, hanging tools etc?
If Possible, Visit the Location of the Seller
If you show up at an event without knowing what you want to buy, your chance of buying something increases that it will not meet your needs, or has performance issues. If you are shopping for wood boring machines, or other types of industrial machinery, find out if the event will have them. Most events issue a catalogue well in advance of the bidding date. Acquiring this catalogue is the first step toward making a sensible purchase.
If you need to buy industrial grade woodworking machinery, buying it used is perhaps the best option. With many industrial machines costing over $100,000 new and possessing a useful lifespan of 30 years or more, getting your industrial machinery used typically amounts to receiving new machine quality at a used machine price. But you have to be vigilant about assessing the machines’ quality, implementing the following steps: researching the seller’s reputation at the BBB; requesting a copy of a machine’s official maintenance record; and conducting a firsthand inspection of a machine prior to purchase.
Step 3: Request a Copy of a Machine’s Official Maintenance Record