Tips for Selling Metalworking Equipment in New Jersey

Selling Metalworking Equipment In New Jersey

New Jersey has several distinctive uses for used metalworking equipment and pieces used for manufacturing, construction, and agriculture. In the northern part of the state, prolific and productive factories create materials and products of all types, while the south is booming with agriculture, independent businesses, and both residential and commercial construction. No matter which of these verticals your business falls into, the metalworking and manufacturing equipment you have on hand will be in demand by other businesses. 

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A Seller’s Market

Real estate and space for production are expensive in the state; brands are constantly looking for ways to increase production, improve productivity and reduce costs. By buying used equipment, brands can get stellar results without the high price tag. Since most equipment used for manufacturing is an investment, original owners take good care of pieces, making it easy for other brands to pick these items up on the secondary market. The savings allowed by this process is impressive and manufacturers compete to get their hands-on available pieces. 

Thankfully, there are plenty of incentives to do business in the state, which draws new organizations and brands to open on a regular basis. From the central location, abundant freight and shipping options and proximity to several large cities to the skilled workforce and many financial incentives, brands continue to set up shop in New Jersey. Tax incentives, business incubators, and grants also bring startups and new organizations to the state in record numbers. 

Manufacturing in New Jersey

New Jersey has long been a center of manufacturing and industrial production; many different industries and products contribute to jobs and the state economy. With lush soil and regular season changes, New Jersey continues to be a strong producer of food and agriculture items on the East Coast. Manufacturing focuses on petroleum products, pharmaceuticals, food items and more. About 90% of the state’s exports are manufactured items and the industry accounts for 250,000 jobs annually.

Food Processing Equipment In New Jersey

The state’s central location is another strong feature; items can be shipped via rail, train, air or truck to any part of the nation. The port is one of the busiest in the nation, shipping manufactured goods across the country and around the world. Financial and political centers in Washington DC, Philadelphia and New York are a short car or train ride away, creating an ideal setting for larger brands.

When it comes to what is manufactured in the state of New Jersey the list is certainly a lengthy one. New Jersey is home to over thirty corporations that ranked among the Fortune 1000 companies list in 2017. This includes some easily recognizable names like, Pinnacle Foods (a frozen food, packaged meat company), Bard (a medical technology company), and Campbell’s ( a food processing industry titan).

The Market for Used Metalworking Equipment in New Jersey

All that activity and production means there is a robust market for used pieces in the state. A skilled and educated workforce means that brands are constantly on the lookout for ways to improve and offer more skills, more training and more capabilities to their facilities. The state is seeing continued growth in manufacturing, particularly in chemical, pharmaceutical and food production.

With the depth of different manufacturing types and the increasing number of manufactures this increases the secondary market for used metalworking equipment in New Jersey. Whether you are a food processing company looking for a new machine to help with the canning process for food, or a metal fabrication shop looking for new welding tools the variety of different corporations greatly increases your chances of selling your used metalworking equipment and buy used metalworking equipment.

Tax Benefits Of Selling Metalworking Equipment

In addition, New Jersey offers a manufacturing equipment & employment investment tax credit. This tax credit is granted to those who qualify by acquiring equipment for manufacturing or for the addition of employees due to equipment investments. This means certain manufacturers can purchase used metalworking equipment and hire new staff to operate the equipment and then potentially qualify for tax credits. Also unlike many other U.S. states, the state of New Jersey places no personal property tax on machinery and equipment.

Why Sell Used Metalworking Equipment in New Jersey?

Getting rid of your surplus equipment can help your organization in several key ways. Since most brands find that space is at a premium, any time you can reclaim unused or dormant space is a plus for your organization. The manufacturing equipment you have on hand is bulky, requires upkeep and attention and is taking up space you could use for generating revenues for your business. When you sell these items, you can make the most efficient use of your space and give your team more room to work and enjoy their space.

When you sell metalworking equipment In New Jersey you also free up revenue that is otherwise tied up in machines you are no longer using or that are no longer working effectively for you. When you sell these pieces, you discover capital from the original cost of the equipment whether it be a used CNC metalworking machine, a lathe or even welding torches and grinders. This recovered capital adds additional cash flow into the business from used or surplus equipment that you were otherwise not using. This process is called industrial asset recovery and the concept is a simple one, to recover the most value out of every asset.

The money recovered from selling your unwanted pieces can be reinvested into the business in various ways. This additional cash flow allows for the opportunity to purchase equipment upgrades to improve productivity, to add the cash into the company’s bottom line for revenue and even in some cases allows for the hiring of additional staff to improve efficacy and productive.

How to Sell Used Metalworking Equipment in New Jersey

Since the manufacturing industry is so varied and robust, there are abundant markets for selling used metalworking equipment in the state. The main challenge for sellers is listing the equipment in a setting where those buyers are actively looking to buy. A site like Aucto can help make a match between buyer and seller; motivated buyers are already on the site and searching regularly. Since used equipment is in demand, buyers stay alert and ready to purchase, streamlining the sale and making it easier for your pieces to find a new home.

Begin by deciding which pieces you have that need to be cleared out. In some cases, these may already be sitting idle or in storage. You should also consider pieces that function, but that you would benefit from upgrading. When you sell your existing equipment, the revenues can be reinvested into pieces that will help you grow and improve your organization. Carefully considering the pieces you can afford to part with and those that are simply in storage and not producing can help you identify a good starting point.

Decide which pieces you have that are ready to move on; ideal candidates are those that still function well and have plenty of usable hours, but that you no longer use. If you have been planning on purchasing newer, more efficient equipment for your organization, then consider selling your older pieces to a new buyer. This added revenue will increase the amount you are able to invest in new pieces.

The best pieces to sell are those that still function well, but that you no longer have a good use for or that you have outgrown. In most cases, this equipment was a significant investment for the original brand and was cared for well. To make a fast and easy sale, gathering information on each piece you want to move is a good starting point.

You’ll need the details about the piece, where and when it was purchased, maintenance records and hours logged. The more details you provide here, the better, since this information will allow a buyer to purchase with confidence.

Once you have these details, you can list your pieces for sale, answer any questions and prepare your items to move on to their new owner. Any documents, accessories and aftermarket goods should go with the piece; this will add value to it and clear out excess clutter from your own facility. You don't need to waste storage space on accessories, manuals, records and pieces that go with items you no longer own. 

Start Selling Metalworking Equipment in New Jersey Today

Taking the time to assess the pieces you own, what your goals and needs are and what you could do with the space you're using to store these items can help you make the most of the selling process. The easiest way to start is to contact the pros at Aucto; we facilitate used metalworking sales every day and our expertise ensures your buyer is truly vetted and ready to buy -- and that your piece sells swiftly. Contact us today to learn more and to begin generating space and revenues from pieces you are no longer using. 

Have a question about buying used industrial equipment or selling used industrial equipment online? Give Aucto a call at 1 (844) 326-7339 or email at sellers@aucto.com, and our team of experienced online auctioneers and customer support team will be more than happy to answer them.

Like this article? Check out some of our recent articles Guide to Selling Metalworking Equipment in New York, Leasing vs Buying Used Equipment: Which is Better For Your Business?, and Pricing Used Equipment: Key Factors to Consider Before Listing to learn more.

Next Post: An Online Auctions Guide to Selling Metalworking Equipment in Massachusetts
Previous Post: How to Use the Sale of Used Metalworking Equipment to Grow Your Maryland Business

 

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