Buying Used Manufacturing Equipment at Auction

I started Midwest Label Supply with one machine purchased at auction. I share this story not to scare anyone but just to help you mentally prepare.

The journey started innocently. I saw an 18 month old digital printing machine listed for $5K. I reached out to the equipment manufacturer and found out a new one was $200K. Wow, quite the discount, I'm interested to learn more.

My Check List

I had thought about buying a machine before and had a small checklist

The machine fullfilled my requirements.

The Auction

It turns out there were 3 machines. The final day of bidding started out around $20K each. The reserve, unbeknownst to bidders was $60K. Which is what I ended up "winning" with.

Winning the auction is where the story starts....

I'm going to break down total auction + moving + installation costs real quick and I will try to finish this story another time.

All in, I'm at $110K. I still consider this a "deal" compared to $200K but time will tell. I got pulled into the aution by the initial $5K price tag and ended up at 20 times thaat.


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