Association of Machinery and Equipment Appraisers Membership helped Machinesused.com improve its Auction Business

Why is Networking so important?  Is there really a benefit to not only joining associations, but being an active participant with others in your field of work?

Machinery experts, no matter their field, are essential to the success of any business that relies on the use of machinery. In today's competitive business world, creating partnerships with other machinery experts is essential for any business that seeks to gain a competitive edge. By pooling resources, sharing knowledge, and leveraging expertise, businesses can accelerate growth, minimize risk, and achieve their goals faster. Joining and taking part in association events can aid in creating those partnerships.

Partnerships can provide businesses with access to new markets and customers. By collaborating with other experts, businesses can leverage their networks to expand their reach, and tap into new opportunities. This can be especially beneficial for businesses that are looking to enter new markets or expand their product offerings.

At Machinesused.com we recently brought in a partner to assist us with one of our Online Auctions.  A 75-year-old gear making facility was shutting down, and the retiring owner wanted to maximize his return on the assets of his company.  This consisted mostly of gear making machines and the support equipment for making and inspecting gears.  We have a history on selling many kinds of machine tools and equipment, and this does include some gear machinery, but this was an extensive collection of older machinery and tooling, and we needed to have a good handle on the value before we presented an auction proposal to the client.

I have had the pleasure of serving on the Board of the Association of Machinery and Equipment Appraisers for many years, and I am nearing the end of my term as AMEA President.  Working on this board I have had the opportunity to meet with and work with a lot of great people, experts in a wide array of capital equipment.  The experience I have had on the AMEA board introduced me to Nick Gibbs of Gibbs Machinery out of the Detroit Michigan area. Gibbs Machinery has an expertise in used gear machinery, and Nick represents the 3rd generation of Gibbs gear knowledge. 

I asked Nick if he wanted to partner this auction with me and sent him the info necessary to ascertain an auction value of the assets.  We made great partners!  Nick helped us identify crucial options and tooling on this equipment that increased the return at auction The auction closed in Mid-January with impressive results. The auction proceeds exceeded both our expectations, and that of our seller. 

An effective way to create partnerships with other machinery experts is to join and take part in association events. The AMEA is an excellent platform for businesses to connect with others in their industry and explore opportunities for collaboration. Association events provide a great opportunity to network, share knowledge, and learn from other experts in the field. These events can be in-person or virtual and can take many forms, such as conferences, workshops, webinars, or social events.

By participating in association events, businesses can showcase their expertise, build their brand, and create new business opportunities. These events are also a great way to stay current on the latest trends, technologies, and regulations in the industry. By attending workshops, seminars, and training sessions, businesses can improve their skills, gain new insights, and expand their knowledge base.

Creating partnerships with other machinery experts is crucial for any business that wants to stay competitive in today's fast-paced business world. By joining and taking part in AMEA association events, businesses can meet other experts in their field, share knowledge, and collaborate on projects. This can result in cost savings, access to new markets, and improved operations, making partnerships a win-win for all parties involved.

Come to the AMEA Forum in Nashville, TN, March 7-10, 2023.  Meet the next partner that you can do business with!  You can find out all about the Association of Machinery and Equipment Appraisers at www.amea.org