Online trading platform Machine Compare entered the market in 2017 with a simple mission. To change how the world trades industrial machinery, reducing failed machinery deals by pairing buyers and sellers across multiple sectors within a cloud-based environment.
With reverse IP tracking running throughout the platform, sellers are sent daily reports of interested prospects, giving them the tools and know-how to close deals more effectively, often shortening the sales cycle for high-end purchases from 12 months to eight weeks.
Since founding the business Co-founders Ben and Eric Findlay’s vision has remained clear. To make the buying process easier and more accessible for end-to-end users by informing choice and inspiring action. Three years later and it’s fair to say the business has successfully challenged the status quo, testament in how Machine Compare has penetrated the European and US market, with plans now to tackle the Asian market.
This month marks the launch of a new product, ‘The Auction’: the first of two huge cross-sector industrial auctions that will run every year from here onwards.
Co-founder and CEO, Ben Findlay said, “We’ve strategically chosen to run these auctions during the summer and winter shutdown periods to avoid operational disruption on the factory shop floor.”
Key benefits of to both machinery buyers and sellers are endless.
For the sellers, expect:
- 0% commission charged on the sale of machines
- No capital outlay to list machinery
- Complete transparency of who is bidding on what
- A competitive bidding environment
- Flexibility in setting reserve pricing
- Free use of Machine Compare’s webinar platform to demo assets
Benefits to buyers of machinery include:
- Reach a global network of industrial paper machinery sellers
- Find the right paper machine for the right price
- Complete transparency
- No deals behind closed doors
- Bid what you’re prepared to pay
- If you can’t wait for the auction to end, you can “Buy it Now”
With the closure of factory sites across the world in recent months as a result of COVID-19, businesses are now more reliant on online trading shops such as Machine Compare.
Findlay adds, “Having worked in the packaging industry for over 16 years as a machinery broker, I know there’s nothing more difficult than trading stock when travel restrictions are at play. The global environment has changed overnight. Now we must adapt and innovate to improve for the better. We’re giving organisations the chance to buy the stock they need now, as well as the opportunity to dispose of stock to make room for great new products, giving end-to-end users the time needed to breathe.”
The auction will end between 22nd-24th July 2020.
If you have machines to sell you can list them here: https://www.machinecompare.com/list-your-machine/
For those interested in browsing assets available within the auction, visit: https://www.machinecompare.com/all-auctions/
