Inventory lab vs outright8/11/2023 “Equipment stacked up in a warehouse is not going to look as attractive as items that are currently being used, doing the job they are meant to do. “Whether you’re selling real estate, clothing, or lab equipment, merchandising is essential,” Gallo says. Labs should also consider how they showcase their equipment. When it comes to selling lab equipment, knowledge is power. If time allows, Gallo recommends having a laboratory equipment specialist conduct a professional inventory, which leaves the lab with an itemized record of which items are owned and leased, which items must stay in the building, which can be redeployed to another location, what can be sold, and what the assets are worth to potential buyers. Labs should begin by establishing what they have. “We will take care of the whole thing, the lotting-the catalog, the marketing, the execution of the event and the backend shipment, and cleaning the facility-literally from start to finish,” says Espinosa.įor labs looking to sell their used equipment, it is important to plan early, says Roger Gallo, CEO and president of EquipNet (Canton, MA). For labs that are selling large sets of assets-for example, if a facility is closing down-they may forego consignment because they are on a timeline, but want a better return that they could get from selling the items outright in these cases, some companies, including BioSurplus, run auction events. But if time is less of an issue, consignment can yield a higher return. Which option to choose depends on the lab’s particular needs where a lab is looking to monetize assets quickly, they would benefit from selling equipment outright to resellers. Third is putting the item up for auction. Second is putting the item consignment in this case, both parties-the used equipment vendor and the lab-share the proceeds from the sale. First is direct purchase, in which a reseller will purchase the used item outright. Octavio Espinosa, senior director of sales, marketing, and Reid Hjalmarson, director of marketing at BioSurplus (San Diego, CA) outline three main routes that their clients use when reselling lab equipment. When it comes to selling used lab equipment, the more information you have about the item for sale, the market, and the available avenues for reselling, the better. Laboratories often find themselves needing to shed some or all of their equipment, whether the lab is upgrading to newer instruments or shutting down its operation altogether.
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