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Jun
3

Getting the "Deal du Jour" at a Restaurant Auction

in Auctions, Tags Advice,

Auctions of all kinds are often a great opportunity to get bargains. Many times, the seller is highly motivated, and the process of determining the selling price is purely free-market bidding. It can be a great opportunity to purchase restaurant equipment, because Restaurant Auctions often feature quality equipment within that great buying opportunity.

With that said, there are some caveats that are relevant at any auction, and they certainly apply at a Restaurant Equipment Auction. Here are some things to keep in mind on both sides of the coin if you're checking out the menu at a restaurant auction.

Buy Through an Auction Service

As simple as an auction seems, there is a lot involved in carrying it out correctly. Credible and experienced companies will have more mechanisms in place to protect you as you consider a purchase. Auction Factory specializes in auctions, not just standard retailing, so they know how to manage the sale appropriately and create confidence for you as a buyer.

Don't Forget Shipping Costs

When you buy at an auction, it's typically sold as is, where is. That can cut both ways. If it's an item you can easily transport yourself, you have avoided shipping costs and gotten a better deal than buying new and paying for shipping. If you'll have to get someone to haul a larger item, you'll need to have that plan in place and be prepared to pay for it--and maybe even to pay for having it available if you don't buy.

Bargains for the Seller, Bargains for You

Restaurants can sell out under a variety of circumstances. Some may have worn out their equipment and decided to do an upgrade, liquidating the old items at low prices. These situations are usually best for buyers who plan to use equipment infrequently. Others may have gone out of business shortly after buying equipment, placing items for sale in desperation to try to satisfy creditors. These purchases can be real bargains for equipment that will be used more regularly.

Easy Comparison Shopping

If you've had an equipment item on your wish list for a while and wanted to compare various brands in person, auctions can be a great opportunity to do that. As buyers view the items before and during the sale, you can really get a look at the layout, size, and configuration of possibly a number of brands offering what you need. All of those questions you have that a catalog can't answer are easily managed in person. As an added bonus, you'll get a better price than paying new, so your desire to experiment can be more practical.

Restaurants have plenty of expenses, not the least of which are labor, utilities, rent, and food. Auctions can be a great opportunity to get quality equipment with quick turnaround, good prices, and minimal wear and tear so that you can focus your funds more carefully on the things your restaurant needs the most.

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