Switzerland-based heavy equipment start-up Equippo Auction, established in 2014, has launched an online equipment auction format that offers a 100% money back guarantee, allowing for a full refund regardless of the reason.
This guarantee was said to democratise the sale of used construction equipment by removing the risk of buying.
Equippo sells virtual lots from sellers’ premises and its own two physical locations, in the port of Zeebrugge, Belgium, and in Domazan, France.
The company said its online format is particularly relevant in the current circumstances where the pandemic is limiting physical contact.
Equippo inspects the machines and provides bidders with reports, photos, videos and functionality tests. It also offers a transportation service to its buyers. There is a delivery cost calculator that adapts during the auction so that the bidder knows the full price of the transaction.
Once a buyer has won a bid, they are offered a test period of 5 days or 25 hours during which they can operate the new machine on the work site after delivery. If the customer is not completely satisfied, Equippo offers a full refund, regardless of the reason.
For sellers, the platform offers free listings and gives access to an international audience.
Sellers have the choice between price control and auctions without reserve. They can also use Equippo’s yards for free or sell from their own site.
Equippo has a pan-European heavy equipment auction planned for 28 October, 2020.