What is consignment and how does it work at WesTrac?

Consignment involves WesTrac selling your used equipment for you. There are ten steps involved in this process.

WHAT IS CONSIGNMENT?

Consignment is an arrangement (signed agreement) in which an item (your machine) is placed in the care of another person or entity (WesTrac) until it is purchased by a buyer.

When you sell your machine via consignment with WesTrac, you are the consignor and WesTrac is the consignee. In exchange for selling your machine, WesTrac receives a small fee that would be agreed upon by both parties in the agreement.

Until your machine is sold, for the duration specified in agreement, WesTrac is responsible for anything that may happen to it but you still retain legal ownership.

How does consignment work at WesTrac?

1. Enquiry

You make an enquiry with our Used team about consigning your machine to WesTrac. This enquiry can be an email or call with your local WesTrac rep or you can quickly fill out the form on our consignment page. To make an enquiry, you'll need to supply photos of your machine and other details relating to its condition. Following this enquiry, our Used team will be in touch to arrange an inspection of the machine.

2. Inspection

Before a consignment agreement is reached, a WesTrac representative must thoroughly inspect your machine. This inspection will help our team provide you with advice on the best price to set, as well as any items that need addressing before the machine can be sold.

3. Agreement

Following the inspection, we'll work with you to come to an agreement about the machine's condition, how the sale should proceed, attachment inclusions, machine location, consignment fee and any other relevant terms and conditions. At this stage, the sale price isn't set in stone. This agreement will ensure you are aware of all the details and are comfortable that there will be no unforeseen issues that may arise during the promotional period.

4. Repairs

If the inspection resulted in repairs needing to be made, before the machine can be sold, these repairs will need to be carried out by you or WesTrac. You are under no obligation to use WesTrac for these repairs. An accurate sale price cannot be determined until these repairs are made and the machine is looking and performing at its best.

5. Price

With the repairs completed, we'll collaborate with you to determine the sale price of your machine - which will ultimately be your decision. Our expertise and advice during this stage will ensure you get the most for your machine, without having it languish in the yard without selling for months.

6. Listing

Once a price has been set, new photos will be taken of your machine and it'll be listed for sale in WesTrac's inventory on CatUsed.Cat.Com. This will provide a professional and global view of your machine to all dealers and customers right across the Cat® global dealer network. This network covers 191 countries and includes 165 dealers.

7. Promotion

As soon as your machine is listed, its promotional period begins. The length of this period will be outlined in the agreement and is always finite, as we both wouldn't want to be locked into something forever. In addition to your machine being listed on CatUsed.Cat.Com, we might also feature it in WesTrac's monthly used equipment e-newsletter - which goes out to hundreds of customers in WA, NSW and ACT. Sales representatives from WesTrac's used team might also personally reach out to suitable customers during this period to let them know your machine is available for purchase.

8. Negotiation

During the promotional period, negotiations will take place between WesTrac's used team and prospective buyers. Our team will use their sales expertise to negotiate a price and, if we hit your targeted amount, we'll ask for the buyer's bank account details and close the sale immediately.

9. Sale/Transport

The sales process is simple, easy and fast with WesTrac. Because we already have a signed consignment agreement, all we need is an invoice and bank details to transfer you the amount you are owed. Once your machine has been sold, it'll be transported to the winning buyer. WesTrac can take care of transportation or you can handle this yourself.

10. Payment

Your payment will be processed quickly via an established, verified and secure method direct to your nominated bank or institution.


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