Selling Equipment with WCA
Selling equipment at a WCA auction is a simple and straight-forward process.
Step 1: Contact WCA for Equipment Sales
When you are ready to sell equipment, a WCA equipment specialist will discuss your complete asset management needs. Perhaps you need to sell a single item – maybe it’s an entire fleet. Either way, our asset management professionals will work with you to determine what to sell, what to retain, and the best marketing strategies and sales venue for your equipment and needs. Though most sellers decide to sell equipment at our traditional live online auctions, some sellers require other sales venues (via portable auctioning services or private treaty, for example). We can accommodate those needs as required.
As a part of the initial asset management process, a WCA equipment specialist will also prepare a TruMarket™ Appraisal for your equipment. A TruMarket Appraisal means an accurate forecast of the equipment sales price – and it means you can plan accordingly.
Step 2: Sign WCA Consignor Contract
All of our customers are unique – so we offer some flexibility in our consignor contracts. A WCA equipment specialist will help you define contract terms that meet your needs. Also, if cash flow is of concern, a WCA team member can discuss our unique pre-auction sales programs (CashMax™ Advance and AuctionMax™ Advance). These programs are designed to increase cash flow prior to an auction.
Step 3: Prepare Equipment for Sale
Equipment Repair / Reconditioning
In some cases, equipment needs to be prepared for sale. As part of our initial conversation, we will determine what added value such repairs would bring. We never recommend reconditioning or repairs that do not have significant impact on equipment value. If necessary, WCA can assist in providing repair and reconditioning services.
Prior to auction, all equipment titles must also be resolved.
- All titles should arrive at WCA no later than one week prior to the auction.
- All titled equipment should have current registration or current non-op status.
- The seller (consignor) should be listed on the front of the title as the registered owner. If the seller is not listed as the registered owner, a Bill of Sale (REG 262) from the registered owner to the consignor is required. Licensed Vehicle Dealers are exempt from this requirement.
- If the title is lost, a duplicate can be applied for at the same time as the transfer to the new buyer.
- If there is a lien on an item that has not been paid, all contact information about the lien holder must be provided.
Step 4: Transport Equipment to the WCA Auction Yard
When your equipment is ready for auction, you transport it to the WCA auction yard in Perris, CA. Of course, the WCA team can also arrange for equipment hauling or transportation as needed.
When your equipment arrives in the yard, we take down all relevant details – supplying as much information as possible so our auction catalog contains the most up-to-date equipment information. We also take photos of the equipment to use in our marketing efforts.
In general, the earlier you can get equipment to the yard, the better. When we have the equipment in hand, we can devote more marketing resources to it. We can feature it on our website and provide callout information in our auction inventory. The equipment can also be previewed by potential buyers.
Step 5: Enjoy WCA Marketing Efforts
Our global marketing efforts are designed to reach the broadest audience of potential buyers for your assets. We post photos and details of all items on our website. We also email thousands of full color auction brochures to selected customers in our database as well as mail a full color post card. Additionally, our experienced sales team also contacts hundreds of buyers with specific equipment needs.
Potential buyers see your equipment right away. They see it as highlighted inventory online.
When you sell equipment with WCA, you are not dependent upon a local or even regional market. You gain access to a worldwide market – and this reach means you access a wide variety of potential buyers, who may have very different needs than local customers. Additionally, WCA tends to attract very targeted buyers. Most of our buyers are searching for specific pieces of equipment (or fleets); they are not searching for the best “”deal”. This means we can offer interested, well qualified buyers (ready and able to purchase) for our clients.
Step 6: Watch / Attend the Auction
All WCA auctions are held typically held on Fridays. They are lively, engaging events.
As a seller, you don’t have to attend the auction in person. Our professional staff of WCA auctioneers will ensure you get top dollar for your equipment.
You can also view the auction online (in real time) by registering and getting a bidder number. Once the auction begins, you will be able to view it in real time, just like a buyer. A WCA sales specialist will contact you on the Monday following the auction to discuss your results.
Step 7: Receive Payment
We provide the fastest payments in the business. You can usually expect payment within 10-15 business days after the close of an auction. Payments are delivered via first class mail, overnight delivery, hand delivered by a WCA team member, or available for pickup at the auction site.
Additionally, every WCA client is contacted personally by a WCA equipment specialist. The sales specialist will provide you a preliminary seller statement that contains sales information prior to the proceeds disbursement.