End users tap multiple resources to acquire used equipment

 

A Randall-Reilly survey of construction, landscaping and agricultural end users shows a clear preference for using multiple sources for acquiring used equipment.

Global Heavy Machinery Parts Dealers: website AGA Parts company

When asked where they typically buy used equipment, contractors showed the strongest inclination to buy from a dealer (69 percent), while landscapers and farmers were more inclined to buy from a private party (landscapers, 76 percent; farmers, 68 percent).

Landscapers expressed less interest in buying used equipment from an auction, with only 27 percent saying they used auctions, a number that’s almost half of the construction and agricultural respondents who said they used auctions.

Research, research

The majority of respondents in all buyer segments say they research specs before browsing used equipment websites or trader publications, with more than 60 percent of applicants in each segment saying they did this research ahead of time.

Buying considerations

Not surprisingly, the number one consideration for an online used equipment buy is price. All three buyer segments cited this factor first. It was at least 26 percentage points above the next-highest answer.

The differences between the buyer segments were more evident in the second-highest factor cited in online used equipment buys. Contractors, at 57 percent, listed maintenance history. Geography, at 51 percent, was the second-highest consideration for landscapers. For farmers, maintenance history (48 percent) and geography (46 percent) were close second and third factors when buying used equipment.

Online buying challenges

When asked to list their greatest challenge in using online used equipment sites, all three user segments cited “inadequate equipment history/condition information” first.  By comparison, users seem relatively happy with these sites’ search criteria and filtering, inventory comparisons, inventory level and number of photos.