Why Shouldn’t I Sell Used VDOT Barrier Wall at Auction?
While auctions are the traditional choice for materials sellers, many contractors are choosing to move away from auctions in favor of better, newer selling strategies with fewer costs. Here, we outline the primary reasons why selling your used VDOT barrier wall at an auction is not always the best choice, and where you should consider listing your materials instead.
1. Auctions only sell VDOT barriers to auction attendees.
If you decide to sell your used VDOT barrier wall through an auction, you’re forgoing the opportunity to showcase the barrier wall to a wider audience. In unreserved auctions, this lowers the likelihood of finding a buyer who is willing to pay your desired price. In reserved auctions, it could take much longer than anticipated for your VDOT barrier wall to attract a buyer, leaving you stuck. In both scenarios, you could have sold your barriers more quickly and for a better price by listing them directly to consumers on a broader marketplace.
2. Auctions don’t allow you to name your price for used VDOT barrier walls.
Selling your used VDOT barriers at auction is risky, since the materials will be awarded to the highest bidder, even if the bidder’s offer is unreasonably low. Moreover, if a low bidder wins the auction, there's no option to undo the sale, and you'll have no choice but to proceed with the transaction. This is an example of one of the many ways auctions revoke rights for sellers, and why many sellers leave auctions worse off than when they started.
3. Auctions charge a fee to list VDOT barriers.
Auction houses charge sellers fees, which they use to cover the cost of staff, rented locations, physical materials, and more. Many sellers end up paying these fees because they don’t think they have any other choice. However, with the rise of online marketplaces like Eiffel Trading, seller fees are no longer necessary and in many cases would be unreasonable. If you choose to sell your VDOT barriers on Eiffel Trading’s online marketplace, you can list your barriers and reach a wide audience with zero fees.
4. Auctions don’t promote VDOT barriers to the most interested buyers.
If you sell your VDOT barrier wall at auction, it’s unlikely the barriers will go to the buyer who needs them for their project. This is because by going the auction route, the focus often shifts from finding the most suitable recipient who could make the best use of the barriers in a construction project, to attracting opportunistic buyers. As a result, your VDOT barrier wall will be sold to an auction attendee who is hunting for a good deal on the material (such as a broker!), and who plans to later flip their purchases for a profit themselves. Overall, you’ll make less money for your VDOT barriers if you sell them at auction than if you’d chosen another route.
5. Where should you sell your VDOT barrier wall instead of at auction?
Instead of selling your VDOT barrier wall at auction, consider listing the materials for free on Eiffel Trading’s online marketplace. At Eiffel Trading, our platform is tailored to attract contractors who are actively seeking VDOT barrier walls for a roadway project in the state of Virginia. By utilizing our marketplace, you’ll have the opportunity to earn a larger profit from your VDOT barrier walls using our free, intuitive listing system. Though first-time sellers may be unsure about a direct buyer-to-seller approach, Eiffel Trading’s online marketplace makes selling VDOT barrier walls easy, low risk and hassle free. Most importantly, listing and selling materials on our site costs you nothing, allowing you to earn a higher profit for your VDOT barrier wall.
Buy and Sell with Eiffel Trading
Ready to sell your used heavy equipment or construction material? List your products today for free on Eiffel Trading’s online marketplace.
If you have any questions or would like additional information, please call us at 1-800-541-7998 or email firstname.lastname@example.org.