Tips for buying farming equipment on auction

It costs hundreds of thousands to run a fully functioning farm, which has made farmers a frugal bunch of individuals. Good-quality agricultural equipment is a top priority for them to ensure their year-round operations run smoothly. However, this doesn’t come cheap. Thankfully, farm equipment auctions provide a safe way for farmers to purchase equipment without breaking the bank.

With so much to purchase at auction, preparation and strategy are required. Here are tips to help you succeed at your next auction:

Do your research

One of the biggest mistakes you can make is going into an auction blind. As the main objective of attending an agricultural equipment auction is to save money on the items you need, it’s important to determine which should be prioritised. This allows you to know exactly what you are looking for at an auction, making it easier for you to bid on the items you actually want and need. 

Research the item’s cost

Once you have researched what you are looking for, including the make and model, it’s time to determine the cost. While auctions are a great place to find deals, no one wants to overpay for used equipment. Save money by doing research. Find out how much your desired agricultural machines and equipment retail for and determine how much you are willing to pay based on this information.

Bid smart 

After you have researched the cost of specific machines or equipment, you can now establish your limit for bidding. It’s easy to get swept up in the excitement of an auction, so you need to determine the maximum amount you are willing to spend on items and stick to it. This will help you avoid buyer’s remorse. Remember, bid on the things you need. 

Check important information 

Purchasing equipment at auction provides an economical solution to your farming equipment needs, but it’s important to remember you are buying used items. Before making a bid on a particular lot, check if it has had regular maintenance and assess its appearance. Take note of any paint chips or dents. Certain items may still have a warranty which you can take advantage of if something breaks or is damaged. In addition, you may want to ask the seller or auctioneer about the availability of maintenance logs and any other essential documents regarding previous repairs. The more you know about what you are buying, the better your chances of receiving a quality item. 

Stay informed

Auction Calendar provides you with a modern and clutter-free website that ensures you can easily navigate to your desired category, allowing you to set personalised reminders and alerts based on your selected categories. With auctions available to browse across Southern Africa, you’ll never miss out on finding the right machinery and equipment for your farm again.