The Advantages of Selling Your Equipment on Consignment

Whether we like it or not, sometimes restaurant owners are forced to sell their brand new or almost new pieces of equipment. Landlord troubles might arise, or perhaps there are some financial issues that come up. Regardless, unexpected emergencies happen, leaving restaurant owners in a position to sell their recently purchased equipment. It’s an unfortunate circumstance, but Kohn-Megibow Company is always willing to work with our sellers to help them get the best possible price on their equipment.

Some restaurant owners will liquidate their entire stock of used equipment. In this case, KMC will usually purchase all the equipment at a bulk rate and then sell it at one of our bi-weekly auctions. However, that is often not the best plan when it comes to singular pieces of equipment, especially if it is relatively new and thus has more value than something that’s older.

The best option in this scenario is usually selling on consignment. When the equipment is in such excellent condition, you probably won’t want to sell it to us at a bulk used price, because you’ll get a better return on your investment with a consignment contract.

The agreement is simple when you sell new and like-new equipment with KMC on consignment. We’ll sell the piece in auction or directly to a buyer at our warehouse. The highest bidder gets it. The seller then gets to keep 2/3 of the sales price. 1/3 of the sales price goes to KMC as the commission. In general, this will get you more money for that equipment than if we simply bought it from you.

Here are some of the additional advantages of selling on consignment with Kohn-Megibow Company:

1. Marketing Exposure – We will feature your consigned equipment in advertising and promotions prior to the public auction. We make sure your item(s) get maximum visibility, which leads to higher sales prices.

2. Peace of Mind – By selling on consignment with KMC, you know you are getting the best return on your investment without having to do all the legwork yourself. We make the process easy and stress-free for you.

3. Good Return on Your Money – You are guaranteed 2/3 of the final sales price, no matter how high it goes in the auction. Many times, this is more than double what we typically pay for a lower-quality piece of used restaurant equipment acquired in a bulk sale. When the sale is final, you get your payment within just 10 days.

To learn about selling new and exceptional quality equipment with KMC on consignment, contact us today for more information. Let us help you get the most out of your restaurant equipment.