The past few months I've been engaged in finding buyers and sellers for specific equipment within the oil and gas market.
It hasn't worked out well up to now, as I'm generally finding more sellers than buyers, but this thread will document my latest attempt:
Getting a specialty truck (2 in fact) sold for a large, publicly-traded, company.
Without drowning you all with the technical aspects, this truck is specialized to operate on the oilfield for a specific type of drilling activity, one which is not in the highest demand at this time. On top of that, they've been stripped of a few useful components, lowering its value and price point.
As of right now the sale for both trucks would be for approximately 60,000 USD.
Here's how I started and what I've already done:
- Cold called the company district responsible for all operations within the particular niche.
- Asked whether they were looking to either add or unload trucks to/from their fleet. They told me they were, but only the latter.
- Having built enough rapport, conversations took place with the district manager and VP, and I received photos and specs of the trucks to share with prospective buyers.
- I had one contact who specifically requested a few trucks like this back in late 2020. I wasn't able to locate said trucks in time mostly due to fixating on locating other types of equipment which I felt was more likely to be sold. After touching back with that contact, he told me the demand had dried up since then.
Back to the company for which this threads about:
- After about 10 days from receiving info and photos of their trucks, I was not seeing any real progress in finding potential buyers. But I got a follow up email from the company asking about any progress on my end which kickstarted me back into finding a way to get this done.
- Since that email, I've gone back to cold calling, targeting several (mid sized) competitors in the region. At first gaining insight on the industry conditions, but ultimately offering to unload the trucks to them. Level of interest has varied from, none at all, to somewhat curious. Shared specs and photos upon request.
- Have also reached out to companies that aren't within oil and gas, but work within a similar enough niche to where the truck might help them out. That has been a bit of a whiff thus far, with only one individual showing minor interest, possibly for down the road. They would most likely unload trucks if so.
I'm aware there are other options I can pursue, including marketing and ads, but as I've mentioned in a prior thread, I've depleted all my start up funds at this point. This is just my how I'm handling my last turn at bat, until I get back to the work force and have more capital to invest.
Also of note: Not sure how much time I personally have left to get this deal done. About a week ago, they asked if I was able to sell other heavy equipment for them, such as cranes and pressurized equipment. Fast forward a few days to my most recent talk with them, and I was informed that the other equipment was already sold.
Will aim to post twice a day in here for as long as I can.
One before the day starts to state what's on tap for that day, and another summarizing how that went and how to proceed for the next day.
It hasn't worked out well up to now, as I'm generally finding more sellers than buyers, but this thread will document my latest attempt:
Getting a specialty truck (2 in fact) sold for a large, publicly-traded, company.
Without drowning you all with the technical aspects, this truck is specialized to operate on the oilfield for a specific type of drilling activity, one which is not in the highest demand at this time. On top of that, they've been stripped of a few useful components, lowering its value and price point.
As of right now the sale for both trucks would be for approximately 60,000 USD.
Here's how I started and what I've already done:
- Cold called the company district responsible for all operations within the particular niche.
- Asked whether they were looking to either add or unload trucks to/from their fleet. They told me they were, but only the latter.
- Having built enough rapport, conversations took place with the district manager and VP, and I received photos and specs of the trucks to share with prospective buyers.
- I had one contact who specifically requested a few trucks like this back in late 2020. I wasn't able to locate said trucks in time mostly due to fixating on locating other types of equipment which I felt was more likely to be sold. After touching back with that contact, he told me the demand had dried up since then.
Back to the company for which this threads about:
- After about 10 days from receiving info and photos of their trucks, I was not seeing any real progress in finding potential buyers. But I got a follow up email from the company asking about any progress on my end which kickstarted me back into finding a way to get this done.
- Since that email, I've gone back to cold calling, targeting several (mid sized) competitors in the region. At first gaining insight on the industry conditions, but ultimately offering to unload the trucks to them. Level of interest has varied from, none at all, to somewhat curious. Shared specs and photos upon request.
- Have also reached out to companies that aren't within oil and gas, but work within a similar enough niche to where the truck might help them out. That has been a bit of a whiff thus far, with only one individual showing minor interest, possibly for down the road. They would most likely unload trucks if so.
I'm aware there are other options I can pursue, including marketing and ads, but as I've mentioned in a prior thread, I've depleted all my start up funds at this point. This is just my how I'm handling my last turn at bat, until I get back to the work force and have more capital to invest.
Also of note: Not sure how much time I personally have left to get this deal done. About a week ago, they asked if I was able to sell other heavy equipment for them, such as cranes and pressurized equipment. Fast forward a few days to my most recent talk with them, and I was informed that the other equipment was already sold.
Will aim to post twice a day in here for as long as I can.
One before the day starts to state what's on tap for that day, and another summarizing how that went and how to proceed for the next day.
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