With the increasing pressure on supply chains, and a continued rise in costs for new materials, a survey by Ramco shows buyers looking for second-hand goods are calling for more quality used items to come to the market.
A survey of customers conducted in July by “circular economy specialist”, Ramco, reveals electrical goods are the most popular type of item bought at their auctions with 32% of respondents having purchased in recent months, followed by industrial goods at 25%, such as plant, machinery, and hand tools.
Electrical goods topped the list of equipment that buyers want even more of, along with vehicle spares.
The survey also highlighted a new wave of entrepreneurs fuelled by what Ramco describes as the circular economy boom, with 15% of respondents having set up a new business with second-hand equipment they’ve bought from Ramco.
Our customers tell us buying second-hand equipment is a good way of saving money and getting items they otherwise couldn’t afford.
Trading, professional services, manufacturing, and leisure and hospitality are the most popular sectors for new businesses being set up by second-hand buyers, the survey shows.
And when it comes to using the equipment, 44% of Ramco’s customers keep the items they buy at auction for their personal use, while 29% buy for their business.
Ramco’s Founder and Managing Director, Neil Sanderson, said: “Our customers tell us buying second-hand equipment is a good way of saving money and getting items they otherwise couldn’t afford. For us, it’s about ending wastefulness and breathing new life into surplus assets.
“We’ve seen a huge increase in the number of buyers registering for our auctions in recent years – a 200% uplift on the pre-pandemic figures – so we know demand is there and it’s a great time for businesses to sell unwanted equipment.
“We work with government departments and businesses across all sectors and handle anything they no longer need – from commercial catering equipment, vehicles and generators, through to boats and cranes. We’ll collect, store, refurbish where necessary, market and sell, and then share the proceeds. It’s a simple model and means everyone benefits, but most of all the environment.”