Looking to sell your used IT equipment but still have concerns about data security, how to maximise its value or other issues?
You’ve come to the right place.
While it’s true that there’s always the issue of data security when selling IT equipment, especially those pieces of IT equipment that have their data storage, there are ways to securely and safely sell your IT assets.
In this post, we will discuss how to securely sell your IT equipment while maximising your potential profits. Without further ado, let us start right away.
Is Selling Your IT Equipment Your Best Option?
Before anything else, let’s first explore the possible options you can do with your used IT equipment, and whether selling it is your current best option.
Basically, with your used IT assets, you have three main options: repurpose, destroy/recycle, or sell, and choosing between the three comes down to four main factors:
- Condition: how old the IT equipment is and its current condition
- Resale value: how much the IT equipment is currently worth at the market
- Replacement: whether you are planning to replace the IT equipment with a newer one, and how much the replacement will cost
- Sensitive data: whether the IT equipment contains sensitive/regulated data and whether performing secure data eradication is viable
If the resale value is still fairly high and if it’s possible to securely wipe the data, then selling the IT asset can help finance an upgrade if you are planning to upgrade this IT equipment.
Key Considerations When Selling Used IT Equipment
If selling the IT equipment is still your best option, then there are three main factors to consider when selling your used IT equipment:
To maximise profits, it’s crucial to have a thorough understanding of how much the IT asset is worth at the resale market at the moment.
It’s pretty obvious that the older your used IT equipment is, and the worse its condition, the lower its resale value will be. However, if you are planning to get an upgrade, selling too fast when the replacement IT equipment is still too expensive might not be a good idea.
It’s also worth noting that the demand for specific IT equipment will vary between different markets over time. So, timing is very important.
Secure Data Eradication
Making sure data stored within the IT equipment is wiped securely and is unrecoverable is crucial when selling any used IT equipment.
Not only is secure data disposition important to protect your business’s and your customer’s data, but depending on your industry, it may be legally required. That is, failure to securely wipe your data and ensure it’s unrecoverable may have legal repercussions for your business.
Compliance with Regulations
If you are in a heavily-regulated industry, acquiring a certification of data destruction may be required before you can legally sell your IT equipment that contains regulated data. Also, there may also be environmental regulations with which you must comply.
It’s best to carefully assess your local, state, and federal regulations before selling your used IT equipment to ensure compliance.
Securely Sell Your Used IT Equipment: Step-By-Step
While the actual steps may vary depending on what types of IT equipment you are going to sell, as well as other factors, below, are the basic step-by-step guide you can follow to securely sell IT equipment while maximising profits:
Step 1: Identify what you’re going to sell
To really understand your IT equipment’s market value, it’s important to thoroughly understand what you are going to sell.
If you are only planning to sell a single used IT asset, then this might not be a major issue, but if you are planning in bulk, you might want to create a spreadsheet so you can easily organise the information regarding your different IT assets.
You should list at least:
- Model name
- Serial number
- Whether you have the original packaging
- Size (when applicable)
Then, depending on the type of equipment you are evaluating, add the required details. For example, if you are selling a used hard drive, then consider including information like storage size (i.e. 1TB) and connector type (i.e. SATA3).
The more detailed your list is, the better.
Step 2: Identify average market price
Nowadays, it’s fairly easy to research the average resale value of the IT equipment you are looking to sell. Simply go to marketplaces like Amazon or eBay, and search for used products that are similar to yours.
Add the results of your “market research” to your spreadsheet.
Step 3: Taking photos of the used IT equipment
Photograph the IT assets you are looking to sell. There are two purposes here: showing prospective buyers that you do possess the goods, and showcasing the current condition of the goods.
It doesn’t have to be professionally-taken photos (although it will help if you do have the budget), but it’s important that the photos are clear and can capture the goods’ current condition.
It’s important, to be honest. If there are any defects, mention them and capture these defects on camera. Also, take photos of the serial numbers if you can.
Step 4: Finding potential buyers
You basically have two options: finding your own buyers, for example by listing your goods on Amazon, or selling your goods to a specialist IT asset disposition (ITAD) company.
If you are selling IT assets that contain sensitive/regulated data, it’s typically better to sell your goods to a specialist ITAD vendor that will help you securely wipe your data and provide a certificate of data destruction.
You might want to choose an R2 and RIOS-certified ITAD vendor like Big Data Supply Inc., that will not only ensure the whole process will be environmentally friendly, but will ensure your company stays compliant to all relevant regulations around data security.
When selling your used IT equipment, you’d want to especially focus on two things: ensuring you stay compliant to relevant regulations, including ensuring secure data eradication, and maximising the value of each asset.
We’d recommend selling your equipment to specialist ITAD vendors instead of looking for private buyers so you’ll get a more accurate valuation for your equipment, assistance in wiping your data, and making the whole process more convenient.