Easy Tips before Auctioning off Your Heavy Equipment for Sale

As a seller of heavy equipment, auctions can offer you a lot of benefits that are hard to resist. Your heavy equipment for sale is almost guaranteed to be sold within a few hours after the start of the bidding, and the final price can go well above the market value. Auctions are quick and efficient, and all the fast action at on-site auction venues and auction websites can also translate to fast payment to your account. Buyers are also screened before they can participate, which assures sellers that everyone is fully capable of buying their machines. As you can see, auctions are very convenient for sellers. They are, however, not free from hassles and issues, and because of that, it is important to be vigilant. Should you choose to auction off your heavy equipment for sale, the following tips are a help so that you will not to run into any unnecessary and avoidable inconveniences and expenses, as well as help you to maximize your experience as you auction your heavy equipment:

Pick the right company. Choosing the right auction company is very important, to say the least. Reputable auction companies give you a higher visibility, and they generally provide more comprehensive services. They have stable security measures that protect buyers and sellers from being cheated upon or from becoming victims of fraud. As a seller, one of your greatest concerns is to be able to reach the right audience. Additionally, you want to be assured that your money gets to you full and on time. Reputable auction companies can do all those for you and more.

Choose between on line or on-site auction. On line auctions are undeniably convenient for the sellers. Their machines often stay with them and they given greater control of the auction. Some websites allow direct communication between sellers and buyers, which the former can appreciate very much because he gets to answer first-hand questions from the latter. However, it is said that close to 80% of purchases are done in on-site auctions. This could be because a lot more individuals want to be able to inspect the machines personally. On-site auction employees also do a great job at prepping machines up to make them work and look better.

Verify, verify, verify. If you are about to close a deal, verify a few important things first, like customer information and preferred payment options. Always ask and verify the customer's complete address and telephone number. Try to maintain some healthy skepticism to be able to sense if there is something suspicious or inconsistent with customer and what he is saying. Demand for payment first before shipping, and if payment is through cheque, verify if it is valid or real.

Procedure for Exporting Trucks and Heavy Equipment

Knowing the proper export procedures is paramount to a successful transaction. However, keep in mind that regulations are likely to change from time to time. So you need to stay abreast of current regulatory export procedures. Read to learn about the Procedure for Exporting Trucks and Heavy Equipment through GlobalTruckAndMachine.com:

 

1- Get all the correct client (person you are shipping to) information, including full (legal) name, Phone number, Physical Address, E-mail, Passport or Federal ID No.
2- Choose a shipping company; another term for the shipping company would be Freight Forwarder. AES is an example of a popular freight forwarding company.
3- Get a shipping quote from the freight forwarder and know the ports desired for shipping the truck, trailer or machine.
4- Fill out the Export Power of Attorney form and get signed. You will need to fill out the Letter of Intent form and send them both to the shipping company of your preference along with a copy of the front and back of the title. If you are shipping a piece of equipment that does not have a title then you will need to send a copy of the original Bill of Sale, notarized. The Bill of Sale must have this statement on it: "We state there are no liens or encumbrances on any or part of this machine and that it is not stolen."
5- Once you receive the Dock Receipt back from the shipping company, they should send you an ACL form with all the information of the port in which you are shipping out of, and the Order in which the paperwork needs to be in. You usually need the Original Title first (if there is no title then the original Bill of Sale notarized), the Dock Receipt, a certain amount of copies of each the title and the Dock Receipt. Your freight forwarder will give you instructions for all your documents and how many of them need to accompany the item to the port.
6- Make sure the Transporter who is taking the truck, trailer or equipment to the port knows which port to go to, and what area of that port to be at. Also make sure the transporter has all of the correct documents in the correct order to take with them to the port.

 

Important To Remember: Some ports require that the truck, machine or equipment be very clean (free of all dirt, oil or any fluids) before it can be accepted at the port. Also, all ports require that any machine or truck has brakes before it can be accepted. Make sure you know all of the requirements before sending the item to port.

7- Once the truck or piece of equipment is at the port, the transporter should receive a stamped Dock Receipt (this ensures your truck or piece of equipment is at the port and ready to be loaded onto the ship). The payer (which could either be the exporter or the supplier) will then receive an Invoice and it must be paid in full before the truck or piece of equipment can be shipped. In a dealer's case, they could be the supplier and the payer. This means the dealer's customer would be the exporter and they would pay the dealer in full for the truck, or piece of equipment and the shipping quote.
Once the invoice is paid, the truck or piece of equipment can be shipped. In some cases the foreign buyer may take care of all of the shipping arrangements and transportation to the port but it is a great selling tool if the seller can make the arrangements for them. Once you know the procedure, it is a pretty simple process.
8-After the truck or piece of equipment is on the ship, the payer/supplier will receive two copies of the Bill of Lading. Both copies must go to the exporter, so they can send it overseas to the consignee (which is the person receiving the truck or piece of equipment at the port). Both copies must be there before the ship arrives at port, or otherwise the exporter will be charged a holding fee until the pair of Bill of Lading arrives.
9- The title takes the longest to go through US Customs. Once it’s through, the shipping company will either send it to the exporter (person receiving the item overseas) or the seller and they can send it overseas to the consignee. Be aware that sending the title could cost up to $100.00; you should cover yourself with these expenses by charging a doc (documentation) fee unless you are willing to take care of the extra expense. The title doesn't always have to be with the consignee to get the truck or piece of equipment from the port, but it is usually a good idea to try to get the overseas as soon as possible.
10-Do a follow-up with the customer (exporter) to make sure all the needed documents were received and everything passed Customs and they had a successful shipment.
You’re done! Hope this Guide help you get past the hurdles of exporting your vehicle. I would love to hear from anyone who this guide has helped.

Reference link:
http://www.blog.globaltruckandmachine.com/trucks-and-heavy-equipment/procedure-for-exporting-trucks-and-heavy-equipment.html