“Well, what do you think you can get me for it?
This is usually the first question that I get asked when someone calls me up and is inquiring about selling their MWD or DD equipment. Rightfully so, this should be the first question that is asked. Who wouldn’t want to know what their equipment is worth if they wanted to sell it?
Just like anything, whether its a car, house, bicycle, etc, there are a lot of factors to take into consideration when selling your gear and the price you want to place on it…but there is one factor that I have found that gives you a good starting point.
In my experience, it doesn’t seem to matter how old your gear is, your starting price point is half the price of buying it new. It’s a tough pill to swallow but I have sold lots and lots of kits and down hole modules and surface gear, etc, over the years, and I have never once had a selling price over half the price of the new price. It seems that if the price is anything over that point a buyer will go with new and get the little bit of warranty that comes with it.
So, if you bought a MWD kit for $500K, start with 250K, and then add in all these other factors:
1) How quickly do you want to sell? If you are looking for a quick sale, lower the price.
2) Do you have all the service records? Are the firmware versions (if any) up to date? For MWD tools this is vitally important.
3) Are you looking to negotiate on price or is your price the rock bottom price you will take.
My suggestion is always this, “Price your assets to sell quickly.”
Especially MWD tools. When it comes down to it, MWD tools fall into the technology category. Think about that TV you bought 5 years ago and what you paid for it. What’s it worth today? Price your assets for a quick sale and put that cash into new assets. Most likely, the assets you’re selling have made you a lot of money, and if they are now sitting they are not making you anything, so get what you can for them and put the cash into new assets that will make you money.
If you would like to sell your MWD tools, Mud Motors, etc, contact MWD Rentals & Sales and we will help you out the best we can.