FAQ/Videos

Most consignment agreements are for 90 days from the date of signature or delivery to our Bradford yard. The average time from signature (delivery) to payment is 75 days for heavy equipment and 45 days for compact equipment.

All things being equal, the more detailed the service history the more you can expect for your machine. Buyers fear what they don’t know about your machine. Much can be learned from the external condition. The service history helps assure buyers of the internal condition, making it VERY important.

Yes, if you absolutely need to use the machine, DeWITT can bring buyers to your job site. The machine will need to be made available for the purchaser’s inspection. Obviously the easier it is for a buyer to buy, the better the outcome.

Simply drop the machine at our Bradford Ontario yard and we will sell it from there.

We determine the fair market value based upon years of experience and using industry data factoring in model age, hours of use and condition.

The ONLY thing we do is represent your equipment for retail at fair market value. History has proven the OEM dealers have a fairly low success rate in terms of customer satisfaction when it comes to consigning machines. This is primarily due the the fact that consignment inventory is less important than:

1. New machine sales
2. Their own used inventory or rental fleet sales
3. Rental utilization
4 Service sales
5. Parts sales. - this is all we do! Your machine selling for maximum retail is THE most important thing to us.

On average, our customers enjoy approximately 25%-30% over auction proceeds and around 20% more than dealer trade value.

Dealers will often use manufacturer programs or simply raise the price in order to pay more than “wholesale” or auction value for your trade. That’s why we recommend getting your best price before ever talking about a trade in. Dealers need to pay wholesale for their inventory in order to earn a “net” profit.

Not necessarily. Dealers are burdened with a lot of overhead costs required to provide service, training their sales and service forces and stick parts. They generally need to pay significantly less for your trade. Only in the rarest of circumstances will they pay real retail for a machine. Those are the rules.

The auction value can fluctuate significantly from week to week and there are no guarantees in a true “unreserved” auction. You remain in control and the machine isn’t sold until you say it’s sold.

Great question! Most used equipment sales organizations want to buy your machine as low as possible and sell as high as possible. Makes sense. Although we routinely buy machines for resale, our primary business is repressing your equipment for sale for the highest resale price possible. That’s our business.

Great question! Most used equipment sales organizations want to buy your machine as low as possible and sell as high as possible. Makes sense. Although we routinely buy machines for resale, our primary business is repressing your equipment for sale for the highest resale price possible. That’s our business.

Yes but generally you don’t want anyone but another end user buying your equipment. Because they want a good machine to produce for them, they are more willing to pay “fair market” for your machine. DeWITT provides an estimate of wholesale value and retail (fair market) value. We use this range to determine the price we may pay for inventoried machines.

Yes, almost assuredly. Depending upon where you are at in the lease term and how critical the circumstance, there is almost always a way out. Sometimes you will enjoy “lease equity” and we’ll pay you the difference between the sale (less our fee) and the payout of the remaining residual value owed to the leasing company. In more dire circumstances, there may be significant penalties involved in breaking the lease. You will still be significantly better off employing DeWITT to assure the highest possible resale price. Where there is a significant hardship, we are happy to work with you on fees and payment to help assure the best possible outcome for your company. We may guarantee your net result for you.

Fair market value is the expected average sale price of equipment paid by the (end user contractor) buyer.

List is the advertised price, often much higher than what the machine will transact at.

Dealers often price machines 10%-15% over fair market value because they “can always come down but they can’t go up” in price. They also have a vested interest in assuring their various brands’ highest possible resale pricing.

We take a percentage of the retail sale price. We only do better when you do better. The standard fee is 10% plus any costs (freight, cleaning, minor repairs or service etc) agreed to by you in advance. Once we negotiate the deal on your behalf and receive payment, we get you paid immediately. If there is a lease or finance balance to pay out, we pay it out and pay you the net proceeds.

The nature of auction sees buyers looking for a cheaper alternative or a “steal” on used equipment. There is more risk for the buyer as well as the seller in many cases. Sellers will often drop problem machines in the auction in order to “wash their hands” of it. Consequently, buyers don’t go to the auction to pay a premium.

We use a number internet Remarketing strategies to get your used construction equipment in front of targeted prospective customers who’ve shown interest in similar construction equipment products.

The nature of auction sees buyers looking for a cheaper alternative or a “steal” on used equipment. There is more risk for the buyer as well as the seller in many cases. Sellers will often drop problem machines in the auction in order to “wash their hands” of it. Consequently, buyers don’t go to the auction to pay a premium.

Yes, we can for a reasonable service fee. We suggest that you clean and service your machine, just the way you might like to buy it. This will assure the quickest sale at the highest possible price.