Advice for buyers

• Do your research. Make sure the equipment you're planning to bid for is really what you want
• Familiarise yourself with the auctioneer's terms and conditions, particularly payment terms and collection or clearance deadlines
• Attend the viewing and always inspect the kit or arrange for an engineer to do this if necessary
• Get a quote for removal and installation - remember you are buying ‘as is, where is'. Is there free access, or is other kit in the way? Research decommissioning costs carefully to avoid nasty surprises
• Double-check the kit will fit into your site
• Make sure you have funds for prompt payment and you are geared up to use the payment method required by the auctioneer. If a buyer defaults on payment they become liable for any shortfall when the equipment is re-marketed
• If your bid is successful, make arrangements to supervise the removal or loading, especially if it's a high-value item
• Don't forget you need to factor in the buyer's premium and VAT

Looking to buy secondhand equipment? Try Pressxchange.

Advice for sellers

• It's always best to sell from the shopfloor. Avoid dismantling kit and putting it into storage if possible, as the value is likely to plummet
• Don't be ambiguous with information. Auctioneers require clarity about precisely what is for sale and any clearance deadlines. They don't want the purchaser to arrive and find the press still in use
• Make sure you allow adequate time for the auctioneer's marketing campaign to work so the information can percolate through to potential buyers - typically six to eight weeks. A rushed ‘fire sale' is likely to be detrimental to the values achieve

Want to write a technical tutorial? Email printweek.helpline@haymarket.com