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Sell Used Machinery Online is going on in a big way. You might get lost thinking what will be the cost of selling machinery online? Well, the cost of selling used machinery online is always there. Be aware of the hidden costs with proper research in advance.
One needs to work out the selling price of the used machinery. Cost of selling second-hand machine will also make a difference to the profits. Here we have thrown a considerable light on expense of online sale. How will online sale cost you? How much it will cost you and how?
How Online Market Places Charge for Selling Used Machinery
A simple answer to this question is difficult. The reason is every marketplace has its own policies and terms. Similarly, the services charges for selling machinery through websites vary. In spite of all the variations, the certain cost is common. Most of the websites allow free listings. But verified listing may cost at most of the websites. Verified listings are those where agent inspects the machinery physically. Besides verified listings, the online marketplaces charge commissions per transaction. There are many other expenses for the additional services like storage support.
Types of Expenses Involved in Selling Machine Online
Various types of costs are involved in the selling process. Here we have listed major costs incurred while selling machine online. Before you select the website, check it for the following costs.
- Registration and Listing Charges
Most of the websites allow free of cost registration. The listings are also allowed free. However, the website may charge for listing. Hence check and consider if it is charging for listing. When it comes to verified listing, the website will surely charge. Many websites have a different listing like below.
- Free listing
- Standard paid to list
- Premium paid to list
The charges of paid listing are monthly or annual. The paid listing gives better benefits.
- Commission on Transactions
When a deal is done, the commission is charged on the selling price. It is a certain percentage of the selling price. Hence do check for the commission before determining your selling price. The commission is deducted at the time of the payment from buyer.
- Shipping Cost
Online platforms bring buyers and sellers from all across the world at one place. If you are buying from another country, shipping costs are inseparable. Transportation cost is either incurred by the seller or by the buyer as per mutual agreement. Many online places also offer logistic support to the buyers. The transportation charges are collected by the website.
- Inspection Charges
To keep the deal fair, physical inspection by agents or third party is the best way. Many reputed websites offer their agents for physical inspection. Inspection charges are collected for the inspection.
- Insurance Cover
Insurance charges are important when you are importing machine from a distant location. Buyers or sellers can arrange for insurance on their own. The online platform also arranges insurance and charges nominal service charges.
The expenses listed above will help you determine your selling price. You can get an estimate of your accurate profit. Keep following us for more tips to sell and buy used machinery.