Frequently Asked Questions

Used Inventory

Where can I find used inventory for sale?

From our homepage, click on View Inventory to view our entire used inventory catalog alphabetically by either machine type or manufacturer. Or visit Global Equipment Marketplace from the site header and enter your search term there. Additionally, at the top of every page on the website, there is a search box that allows you to search the entirety of our inventory and auctions.

How can I get pricing on the used equipment I am interested in?

Click on “View Details” on the item page and click on “Get a Quote” or “Sign up to see pricing on all Inventory”.

How long does it take to receive a quote?

Once a quote request is submitted on our website, you will receive the quote to your email within 15 minutes.

Why do I need to sign up to see pricing?

This allows you to set your preferences on the information you would like to see from Perfection Global so we can better serve your needs and provide the relevant content you’re looking for.

Do I have to sign up to see pricing every time I want to view an item?

Signing up requires you to create a username and password, which you will be able to use for all future visits.

I already have too many usernames and passwords to remember. Is there an easier way for me to login to see pricing without having to enter a username & password every time?

Yes, on your initial login your computer will ask you if you want it to remember your username and password for this site. By saying yes, you will not have to enter your username and password when you come back to visit the site. However, if you delete all your username and password cookies you will need to login in with them during your next visit.

What if I forgot my password?

Click on ‘Forgot Password’ within the Global Equipment Marketplace sign-in page.

Where is your used equipment located?

Most of the equipment we have available for sale is located at our 86,000 Sq. Ft. showroom in Elk Grove Village, IL, which is located adjacent to Chicago O’Hare International Airport.

Can I inspect the equipment I’m interested in under power?

Yes, most items in our showroom can be inspected under power. For assets located at manufacturing plants, machines can be shown under power on a case by case basis.

Does your company rent equipment?

Yes, we do. Visit our Rent a Machine page for further information.

How do I sell my used machinery?

If you have surplus or idle equipment you’d like to sell, please fill out the form located on our Sell Used Machinery webpage. Perfection Global can assist in selling a single machine or an entire facility. Additionally, Perfection Global can make you a cash offer on a wide range of used machinery and equipment.

What information do I need to provide you if I want to sell my used equipment?

Some helpful details to provide to us would be the equipment’s Make, Model, Age, Pertinent Specs & Options and Condition. If you have already taken photos of the equipment, please send a few to [email protected].

What if I don’t know what my used equipment is worth?

No problem! Perfection Global are used equipment experts… we buy and sell tens of thousands of assets each year and can quickly provide an estimate of what your equipment is worth based on current market conditions.

How can I learn more about Perfection Global?

Visit our About Us page for our history and other industrial asset services we provide.

Auctions

I'm interested in an auction. How do I register to bid?

Click on the "Register for this Auction" link, found on either the Auctions listings page or on the Sale Details page for each specific auction. Most Perfection Industrial Sales auctions are held on Bidspotter.com, and you will be able to use your same Bidspotter credentials for all of our auction sales. If you do not yet have a Bidspotter account, it is free to sign up and takes no more than a minute or two.

What if I have an account but forgot my password?

While on the Bidspotter.com sign-in page, select ‘Forgot password’ and enter your email address. Instructions to reclaim your Bidspotter account will be emailed to you. If you need further assistance, please contact Bidspotter customer service.

Does it cost money to sign up for an account?

No, the account is free. You will only pay for the items you purchase per the terms and conditions of the auction; however, a deposit may be required before you are approved to place bids, per the Terms and Conditions of sale. If a deposit is required, it will be mentioned on the specific auction’s Sale Details page on our website, and you will receive an email from our team shortly after your auction registration.

When should I register for an auction?

You can register for an auction as soon as the sale is posted and goes live on the site. We recommend registering a minimum of 24 hours prior to the start of the auction.

How can I review the sale details and terms and conditions for the sale I am interested in?

From the Auction Listings page click ‘View Details’ for this sale you are interested in. A Terms & Conditions document specific to each sale will be attached in the ‘Documents’ portion of the webpage, and these Terms will also be found on Bidspotter.com. The Terms & Conditions must be accepted prior to registering for an auction sale.

Do I need to register first before I can review a particular sale’s details and terms and conditions?

No - Terms & Conditions, sale details and an auction lot catalog can all be viewed prior to registration.

How can view the individual lots in an auction?

Auctions that have a sale / lot catalog available will have a link called 'View Lot Listing.' Please note that lot catalogs are subject to change.

Can I inspect the equipment I am interested in before the auction?

Yes, sale preview days are generally held one day prior to the scheduled auction date, by appointment. Each sale details page includes an ‘Inspection’ section with information unique to that auction.

What if I am unable to travel to inspect the equipment I am interested in?

Video call inspections can be accommodated with advance notice. Please contact our office as early as possible for requests like these.

When is payment due for the items I purchased and what forms of payment to you accept?

Full payment must be made within 48 hours following the sale. Acceptable forms of payment are cashier's check, company check (with bank letter of guarantee) or wire transfer within 48 hours of the sale close. For any Buyers failing to pay within the 48- hours stated payment period, the Buyer's Premium will be increased to 20%. All invoices paid with a credit card ($2,000 max allowed) are subject to a 20% Buyer's Premium. This information will be specified within the Sale Details page and Terms & Conditions for each auction sale.

What is a Buyer’s Premium?

A buyer’s premium is a fee (usually 18%) that is added to the winning bid for each item. A buyer’s premium will be added to each successful on-site and online bid. Check the View Details page to find the buyer’s premium for any auction event.

Will taxes be charged on the items I have purchased?

See Terms of Sale – “Taxes”

When do the items I have purchased need to be removed from the auction facility?

Each auction sale has specific removal details and deadlines, which will be listed on the Sale Details page and will be included with the invoice sent to all Buyers after the auction is complete.

How do I remove the items I have purchased?

On the View Details page of the auction of interest you can find Rigging and Trucking companies listed that can be contacted to assist you in the removal process. There will also be information regarding removal along with facility contacts listed on your “Paid in Full” invoice. Please review the View Details page for any special instructions or removal requirements.

Appraisals

Why would I need to get an appraisal for my machinery & equipment?

All Asset-Based Lenders would require an appraisal for any type of loan, financing, or operating line of credit.

Are there other reasons why I would need or want to have an appraisal of my capital assets?

Certainly! A certified appraisal of your machinery & equipment could be very useful and used for:

  • Insurance Loss Settlements
  • Buy/Sell Agreements
  • Estate Planning
  • Mergers/Acquisitions
  • Tax Purposes
  • Divorce Settlements
  • Business Liquidation

Are there different type of machinery & equipment valuations?

Yes, the most common types are:

  • Fair Market Value (FMV)
  • Orderly Liquidation Value (OLV)
  • Forced Liquidation Value (FLV)

What type of valuation would my banker require?

Most Asset-Based Lenders will require a Forced (FLV) and Orderly (OLV) Liquidation Valuation.

What is the difference between a Forced and Orderly Liquidation value?

As defined by the Association of Machinery & Equipment Appraisers:

  • Orderly Liquidation Value
    A professional opinion of the estimated most probable price expressed in terms of currency which the subject equipment could typically realize at a privately negotiated sale, properly advertised and professionally managed, by a seller obligated to sell over an extended period of time, usually within six to twelve months, as of the effective date of the appraisal report. Further the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets are to be sold on a piecemeal basis 'as is' with the purchasers responsible for the removal of assets at their own risk and expense. Any deletions or additions to the assets appraised could change the psychological and/or monetary appeal necessary to gain the price indicated.
  • Forced Liquidation Value (Auction)
    A professional opinion of the estimated most probable price expressed in terms of currency which could typically be realized at a properly advertised and conducted public auction sale, held under forced sale conditions and under present day economic trends, as of the effective date of the appraisal report. Conclusions taken into consideration are physical location, difficulty of removal, physical condition, adaptability, specialization, marketability, overall appearance and psychological appeal. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets are to be sold on a piecemeal basis 'as is' with the purchasers responsible for the removal of assets at their own risk and expense. Any deletions or additions to the total assets appraised could change the psychological and/or monetary appeal necessary to gain the price indicated.

What is a Fair Market Valuation?

As defined by the Association of Machinery & Equipment Appraisers:

  • Fair Market Value
    A professional opinion of the estimated most probable price expressed in terms of currency to be realized for property in an exchange between a willing buyer and a willing seller, with equity to both, neither being under any compulsion to buy or sell, and both parties fully aware of all relevant facts as of the effective date of the appraisal report.

Is an Industrial Appraisal the same as a Machinery & Equipment Appraisal?

Yes, those terms are synonymous and interchangeable.

Can Perfection Global Appraisals perform commercial & industrial appraisals in any market segment?

Yes, the Perfection team of industry experts have over 100 years of combined experience and can conduct comprehensive industrial appraisals on a wide range of machinery & equipment assets, including, but not limited to:

  • CNC Machine Tools
  • Automotive Production & Stamping
  • Metal Fabrication Equipment
  • Plastics Processing
  • Oil, Gas & Refinery
  • Aerospace
  • Defense
  • Appliance
  • Yellow Iron & Heavy Construction Equipment
  • Fleet Stock
  • Electronic
  • Wire & Cable
  • Green Energy
  • Cannabinoid Production Equipment

What will an appraisal of my machinery & equipment cost?

Each project is quoted separately and depends on the scope of the project, facility size, number of assets and locations. Please complete our Appraisals form and we would be happy to provide a rough estimate after a short, but thorough conversation.

What’s the difference between an appraisal from Perfection Global Appraisals versus one from my local equipment provider?

Most lending institutions and industry professionals require an appraisal that was performed and issued within the established ethical guidelines of various accredited appraisal associations and foundations, compliant to their standards by using best practices in forming opinions of value.

Is Perfection Global Appraisals a member of these associations?

Yes, our appraisers are USPAP (Uniform Standards of Professional Appraisal Practice) Certified and qualified incorporating the standards of The Appraisal Foundation and members of the Association of Machinery & Equipment Appraisers (AMEA) and the American Society of Appraisers (ASA).

How can I be assured I will receive the best and accurate valuation for my machinery & equipment from Perfection?

All values are expressed as an opinion of value by the appraiser and based on his or her research and due diligence. Our appraisers’ ability to determine machinery & equipment asset values is grounded in Perfection’s long history of buying and selling industrial assets on a daily basis over the past sixty years. In addition to Perfection’s used equipment retail platform and rich historical database, Perfection Industrial Sales conducts over 75 auctions and liquidations a year, providing current, real-time FLV and OLV valuations, market trends and market data context.