In-person and online laboratory equipment auctions provide a convenient and cost-effective way to acquire essential lab instruments or offload surplus equipment. Whether you’re setting up a new lab space or looking to sell equipment that’s no longer in use, lab auctions are an excellent resource for researchers seeking cost-effective solutions.
Procurement and equipment management can be especially challenging in the life sciences industry, where the demand for specialized instruments is high. Staying up to date with the latest technology while managing costs can be daunting. This is where laboratory equipment auctions come in. They offer an opportunity to buy and sell equipment at reasonable prices, making them an essential strategy for many labs.
In this guide, we'll cover everything you need to know about participating in lab equipment auctions, helping you make informed decisions and evaluate whether auctions align with your goals.
Laboratory equipment can come from various sources, including surplus inventory from manufacturers, biotech startups, and academic labs. However, it’s crucial to research the auction service and the equipment listings to ensure they meet your needs. Here’s a breakdown of the two auction formats:
In-person auctions take place live, where an auctioneer presents items, and participants bid in real-time. You can inspect the equipment beforehand, allowing you to evaluate its condition and determine an appropriate bid. Some equipment will still be high-quality, while others will have serious wear and tear.
After winning a bid, you’ll often pay for and receive your item on the spot, or arrange for later shipment depending on the size and weight of the equipment. Attending these events can also be a valuable networking opportunity with other buyers and sellers.
Online auctions provide the convenience of bidding from anywhere, including your home or lab. This format opens up auctions to a wider audience, allowing buyers and sellers to connect beyond local areas. Items are listed in detailed catalogs with all necessary information, making it easier for buyers to assess equipment. However, it’s important to note that online auctions can make it difficult to thoroughly inspect equipment in person, which may introduce risks if quality isn’t assured.
Research is key to understanding how much lab equipment typically sells for. Comparing prices from manufacturers like Thermo Fisher Scientific, Shimadzu, and Agilent can help you set a realistic price limit and avoid overbidding.
Before committing to an auction, research its reputation and item listings. Make sure the equipment you need—such as mass spectrometers or centrifuges—is available, and verify the auction house’s reliability.
It’s essential to check the quality of any equipment before purchasing. If available, investigate the instrument’s age, repair history, and previous usage to ensure it’s worth the investment.
While auctions can offer great deals, they come with potential risks. Equipment may not always be in optimal condition, and repair costs could quickly turn a bargain into an expensive endeavor. Be particularly cautious with online auctions where physical inspection isn’t always possible.
Unlike estate sales or car auctions, laboratory equipment auctions occur less frequently. Finding an auction that matches your timeline and proximity may take time and research.
Even after attending an auction, there’s no guarantee you’ll secure the equipment you need. Competition and budget constraints could leave you empty-handed.
Choosing between lab equipment auctions and leasing depends on your lab's needs, timeline, and budget. Here’s a quick comparison of the two options. Both auctions and leasing offer cost-saving benefits, but leasing provides a lower-risk, more flexible option for labs that prioritize reliability, ongoing maintenance, and scalability.
Leasing is particularly advantageous for labs that are rapidly growing or need the flexibility to upgrade equipment as technology evolves, often with potential tax benefits that reduce overall costs. Auctions, on the other hand, can be a good fit for labs seeking to acquire specific, less frequently used equipment at lower upfront prices.
However, auctioned items often come with significant risks, such as no warranties, limited or no maintenance options, and the potential for purchasing outdated or incompatible equipment. For instance, a startup lab might benefit from leasing to ensure access to the latest tools and support, while a more established lab could use auctions to supplement existing equipment. Ultimately, labs should evaluate their priorities—whether it’s cost, flexibility, or reliability—to determine which option best aligns with their goals.
Deciding between lab equipment auctions and purchasing new equipment depends on your lab’s priorities, timeline, and budget. Auctions can offer lower upfront costs, making them appealing for labs working within tight financial constraints or seeking specific equipment for occasional use. However, auctioned items often lack warranties and reliable service agreements, and there’s a risk of acquiring outdated or incompatible technology. Purchasing new equipment, by contrast, guarantees access to the latest models, comprehensive warranties, and vendor support.
For labs prioritizing cutting-edge technology and long-term reliability, purchasing new equipment ensures peace of mind, albeit with a higher upfront cost. Ultimately, auctions can work well for supplementing existing setups, while buying new is often better for labs with steady funding and critical equipment needs."
Choosing between lab equipment auctions and short-term rentals depends on the duration and purpose of your equipment use. Auctions can offer significant upfront cost savings, making them a good choice for acquiring equipment you plan to use long-term or for supplementing your lab’s existing tools. That said, auctioned equipment often lacks warranties, support services, and guarantees of reliability, which can pose challenges for time-sensitive projects.
Renting short-term, on the other hand, is ideal for labs with immediate but temporary needs, such as pilot studies, specific experiments, or bridging gaps while waiting for permanent equipment. Rentals come with the added benefits of maintenance support, easy returns, and access to newer technology, but the cumulative costs can outweigh auction savings if the equipment is needed for an extended period. Ultimately, auctions suit labs seeking long-term ownership of budget-friendly tools, while renting offers greater flexibility and peace of mind for short-term projects or rapidly evolving requirements.
If you’re looking to sell surplus lab equipment, here are a few strategies to help maximize your return:
Navigating laboratory equipment auctions can be a cost-effective way to acquire the instruments your lab needs, but it comes with certain risks and limitations. Auctions may offer lower upfront costs, but the uncertainty around equipment condition and additional fees can make them a less predictable option.
If auctions don’t align with your preferences, consider leasing lab equipment with Excedr. Leasing offers a reliable alternative, ensuring you receive brand-new or manufacturer-refurbished equipment without the uncertainty of auction purchases. Excedr’s leases include maintenance services, so you can avoid the risk of unexpected repairs and always keep your equipment in working order.
Our inventory includes equipment from top manufacturers, covering general lab instruments, pathology tools, and advanced imaging technology. Whether your lab requires general equipment or highly specialized instruments, leasing with Excedr can secure the tools you need without the hassle and risks associated with auctions.
For labs looking for a low-risk, cost-effective solution, leasing with Excedr offers flexibility and convenience. With consistent payments, built-in maintenance, and the option to upgrade or change equipment at the end of your lease, you can focus on advancing your research without worrying about equipment upkeep.
Get in touch with us today to explore our leasing options and streamline your equipment procurement process.
Laboratory equipment auctions feature a wide variety of items, including general lab supplies like glassware and pipettes, specialized instruments such as centrifuges, microscopes, and mass spectrometers, and high-end equipment like liquid handling robots and analytical systems. Some auctions may focus on specific industries, like biotechnology or pharmaceuticals, so it’s important to research the auction listings ahead of time.
For in-person auctions, it's common to have an opportunity to inspect the items beforehand. This allows you to check the equipment's condition and functionality. For online auctions, detailed descriptions, images, and sometimes videos are provided. However, thorough inspections may not always be possible, which is why careful research on the auction house and seller is critical.
Research the market price for the equipment you're interested in before the auction begins. Look up pricing from manufacturers and compare similar used or refurbished equipment to gauge an appropriate bid limit. Make sure to factor in additional fees like shipping, taxes, and buyer premiums, which can quickly add to the final cost.
Typically, auctioned equipment is sold "as is," meaning there are no warranties or guarantees on the condition of the items. Buyers assume the risk associated with purchasing used or surplus equipment, which is why it’s crucial to research the equipment beforehand. Some auction houses may offer limited guarantees or allow third-party inspections prior to purchase, but this is not always the case. If you require warranties, leasing might be a better option.
In addition to the bid price, many auctions charge a buyer's premium, which is a percentage of the final sale price, often ranging from 5% to 20%. You may also encounter additional fees, including taxes, shipping, handling, and insurance for transporting the equipment. Be sure to read the auction terms carefully and factor these costs into your budget when determining your maximum bid.
