Lab equipment is critical for all types of research and experimentation, but your need for some equipment may be short-lived, or limited storage capacity requires you to trim down on your stock. Whatever your reason for unloading lab equipment, knowing how to sell it is essential for getting some money back and streamlining the process as much as possible.
How you sell your laboratory equipment will depend on your priorities. If you're trying to unload a single piece of equipment that you've replaced with a newer model, your process will likely look very different from a research team trying to sell their entire lab. Knowing what steps to take will give you the best chances for a successful sale.
Where to Sell Used Lab Equipment
You know you want to sell lab equipment. Now what? The first step is to find out where you want to sell. You have a few options as far as where to sell your equipment, and they can all offer benefits. Ultimately, making a decision comes down to your preferences and needs.
Factors like time, effort and amount of equipment to sell can all play a role in your decision. Here's a brief overview of your options to find the right method for you.
Through a Professional Reseller
“Professional reseller” can be a vague term, especially since there are a couple options under that umbrella to consider. A standard reseller is a company that buys your equipment for a set price and sells it through its own platform. It's like when you sell a used car to a dealer, and they sell it on their lot. You make an initial profit, and the reseller makes a profit based on the new price they set. This method is straightforward, gives you a profit quickly and is easy to access.
Consignment is the other option. In this case, the reseller doesn't take ownership of your equipment — they sell it on your behalf. When the reseller finds the right buyer, you split the profits. Consignment can help you get a higher price for your equipment because resellers typically have excellent connections.
It's valuable to note that the consignment process can take a lot of time based on the state of your equipment. If you're looking to make money quickly, it's probably not the best route. You'll also have to pay out-of-pocket for repairs since most consigners won't sell broken items. Theoretically, the higher selling price can balance out these expenses, but it's not guaranteed.Contact New Life Scientific to Buy Your Used Equipment
With an auctioneer, your equipment is sold in a formal auction along with other used equipment owned by other people. Auctions are beneficial because people bid on your items, which can drive the price up. However, it can be harder to be successful in an auction if your used equipment is lower in quality or isn't high in demand. If your equipment doesn't sell, you may still be stuck with some fees from the auctioneer.
Auctions can be a fantastic option when you're trying to sell a large volume of equipment or an entire lab. After the auction, you can expect to sell most, if not all, of your stock. If getting money fast for a large amount of equipment is a priority, an auctioneer might be the way to go.
Doing It Yourself
Selling used lab equipment yourself is always an option. There are plenty of online platforms (like eBay) to list your equipment and get in direct contact with buyers. If you're not interested in working with a reseller or auctioneer, this DIY approach is within reach. Bear in mind that you may face more logistical challenges when handling the selling process, like shipping needs, customer questions and storage requirements leading up to the sale.
It's also vital to consider the possibility of scammers. Typically, resellers and auctioneers have more systems in place to prevent fraudulent purchases, but it may be more challenging to suss these out yourself.
How to Prepare Your Lab Equipment for Sale
Once you've determined the best place to sell your used lab equipment, you need to prepare it for sale. The more effort you put into the preparation process, the more attractive you can make your used equipment to potential buyers. There are three steps you should take when preparing for a sale.
1. Determine Value
This first step can be a challenging one because it requires a little research. Factors like age, cosmetic value, included accessories and general market price can influence how much a piece of equipment is worth. You can look up some used equipment sellers to find the make and model of your item and gauge how much it generally goes for. You may even consider the price of equipment when sold new, then subtract value based on factors like age.
It's also helpful to note that the value you choose will affect how quickly it sells. If your priority is clearing out your storage, a lower price can help you sell faster. If you care about getting a higher sale price, prepare for more time on the market.
2. Collect All the Pieces
You'll get the most from your sale if your equipment is complete. Before going to a reseller or posting your equipment online, search for all the accessories and pieces. Whether your equipment has missing rotor buckets, an accompanying operating computer or any other accessory, find it and sell it with the item.
These additional pieces are particularly important for old models that are no longer sold new. It may be more challenging for buyers to find replacement parts, which will affect the selling price of your equipment.
3. Document Everything
Documenting your used equipment makes it easier to share what you're selling to resellers and buyers, and it can help increase the sale price. When a person can see everything they're getting out of the purchase, it makes the transaction more trustworthy and tells them what the item is truly worth.
Some of the traits to document include:
- Equipment name, model number and manufacturer
- When it was deinstalled
- Whether or not it works
- What accessories come with it
- Any repair work performed
- Warranties if applicable
Looking to Sell Old Lab Equipment? Contact New Life Scientific
At New Life Scientific, we maintain a vast selection of used lab equipment to satisfy a wide range of research needs. We're always looking to buy more equipment to add to our inventory. If you're hoping to sell, we're a team you can trust. Our inventory covers centrifuges, spectrophotometers and everything in between, so get in touch with us today to discuss your used equipment for sale.