Want to Maximize the Sale Price of Your Pre-Owned Medical Equipment? Try This.
In the pre-owned medical equipment market, there is fierce competition from buyers looking to purchase equipment from hospitals and clinics. If you are a seller, you have a lot of options.
But one option to sell your used medical equipment that you might not have heard about is the “Elimination Bidding Competition.” We recently came across a medical facility utilizing this innovative strategy and realized its effectiveness in maximizing value for the seller.
Here is how it works:
- The seller sets a bid deadline date and invites bidders to bid on the medical equipment.
- When the first round of bidding is complete, the seller publishes the highest bid and notifies each bidder individually which position they were in. The seller kicks out the lowest bid.
- A next round of bidding is done with the remaining bidders, and again, the highest bid of the second round is published, and each individual bidder is notified of their position, and the lowest bidder of the second round is kicked out.
- This cycle is repeated several times, until few bidders are left.
The principle behind this strategy is that each time there is a round of bidding, each bidder learns the highest bid, which then becomes the new starting price for the next round.
With each round of bidding, the highest bid becomes the new floor, thereby driving the price higher with each bid.
It’s a clever strategy that can help generate the maximum value of the used equipment to a medical institution. And the additional revenue gained by this strategy can be used for a multitude of reasons, including department events, employee bonuses, continuing education for staff, better medical equipment, and even improvements to the department.
If you would like to implement this strategy, ROS can help. For over 20 years, ROS has been helping hospitals and clinics place pre-owned medical equipment in the areas of greatest use and value. We can also help you conduct an Elimination Bidding Competition with your diagnostic imaging equipment, including CT Scanner, MRI, PET/CT, Spect CT, Gamma Camera, C-Arm, O-Arm, X-Ray, and Cath Lab Systems.