Unique Assets Need Specialized Remarketing Solutions

Intro

Let’s look at a utility company that specializes in the installation, maintenance and repair of telecom, electric power and natural gas infrastructure. This company was exclusively selling their used equipment and fleet assets through a large, industry-leading specialty equipment auction. Examples include excavators, bulldozers and skid steers. In addition to charging high fees and commission, the auction’s antiquated approach restricted opportunities for a diverse fleet like theirs to maximize sales results.

Challenge

The utility company decided to look for opportunities in their remarketing process to improve:

• NET returns
• Total days to sell assets
• Use of technology to help lower selling costs

After some initial reviews and consultations, they found a solution they felt checked all those boxes.

The new strategy could leverage multiple sources and platforms to position the used yellow equipment in the best venues, including sales directly from their own locations.

Solution

The utility fleet manager contacted us to learn more about the comprehensive suite of fleet management and remarketing solutions we offer. That led to a collaborative partnership with us, including:

• Various fleet management services for their 3,500-vehicle fleet.
• A customized approach to vehicle and equipment replacement cycling.
• The facilitation of lien releases through financial organizations and banks.
• The diversification of sales channels to help maximize returns.
• The selling of used heavy equipment through our online marketplace, Holman EquipmentDirect.

Results

In the first six months, the utility fleet sold 62 heavy units, free of commission and transportation fees.

Among all the sales, one stands out as the “homerun.” It was a used vacuum truck with an estimated resale value of $55K-$60K.

Like the fleet manager knew all along, with lower costs and the right buyer base, the possibility is there to exceed expectations. The vacuum truck sold for $82,800.

Your fleet is an investment. It’s time it paid off.