Last updated on January 19, 2023 by
The Lab World Group: Used Lab Equipment
To carry out high-quality, competitive research, your lab needs the latest, most innovative laboratory equipment. The problem is that most equipment at the forefront of technology is expensive.
If you’re on a budget, acquiring used and refurbished equipment is a better option. So is leasing. In some cases, you can even lease used and refurbished equipment. Both options are solid alternatives for efficiently and cost-effectively getting equipment into your lab without breaking the bank.
The Lab World Group is just one of many vendors selling and buying new and used pharmaceutical and laboratory equipment in the U.S. to support a wide range of lab workflows. Its headquarters are based in Woburn, Massachusetts, but it serves numerous locations nationwide, including New York, Rhode Island, North Carolina, California, and other biotech hubs.
The company has more than 10 years of experience, and because of its Massachusetts-based headquarters, can be accessed by thousands of laboratories in the epicenter of Genetown including Boston, Cambridge, Waltham, Lexington, and Bedford.
Biotech and biopharma companies can work with The Lab World Group to procure high-quality life sciences and molecular lab instruments. Further, they can sell retired and de-commissioned research and pharmaceutical equipment to The Lab World Group and generate some cash which can go towards other projects.
In this article, we will review the process of selling and buying equipment through The Lab World Group and the potential risks involved with purchasing surplus equipment for your lab.
Excedr can help your lab get the technology and equipment it deserves. With the right equipment, you can accelerate your R&D and achieve milestones faster! Get your customized leasing solution now.
Buying and Selling Lab Equipment
The Lab World Group buys and sells equipment from all over the world, including rotors, spectrophotometers, chromatography, and much more.
Used Lab Equipment
Purchase a range of equipment from different popular brands, including Beckman Coulter, Thermo Scientific, Bertin Technologies, VWR, Eppendorf, Biotek, KD Scientific, and Agilent.
Some of the Instruments available through these brands include Ohaus adventurer balance ax523, Daigger Dry Block Heater with Cooling ALB-C1, Thermo ultra low freezer uxf70086, SpectraMax M2 Multimode Plate Reader, Thermo Revco UXF70086 ULT Freezer -86C, and sartorius balance cp3202s.
You can search by equipment category as well, including:
- Freeze Dryers
- Cell Culture Incubators
- UV-Vis spectrophotometer
- Cell counter
- Microplate reader
Typically, The Lab World Group has a turnaround time of three business days. Once your order is received, the chosen equipment is sent through an outbound quality control process. The process includes a ten-point inspection that ensures the equipment is in good working condition and is operationally fit, confirming you’ve ordered and will receive a top-quality instrument. All equipment is packaged professionally and comes with a standard warranty.
Selling Lab Equipment
The Lab World Group is one of many options for selling used lab equipment. In addition to purchasing and managing your assets, they offer solutions to maximize the return on the equipment you sell them. Their asset management solutions include:
- Brokerage: Help you connect with a suitable buyer who wants to purchase your equipment.
- Consignment: Safely collect and deliver your equipment from your facility to The Lab World Group’s secure warehouse; they will also conduct a professional marketing campaign to help sell your instrument and perform a quality control check to ensure your equipment is in good condition and backed by their standard warranty.
- Lab Liquidation Auction: Sell your instruments in a very short period of time in the case of lab liquidation; this includes coming to your facility, performing an equipment assessment, and scheduling a lab auction event, promoting the event to a number of qualified buyers from different marketplaces.
- Outright Purchase: Sell your lab equipment directly to The Lab World Group through a hassle-free transaction. After agreeing on the purchase price, the seller will receive full payment within 48 hours of acceptance.
- Equipment Valuation: Receive an assessment of your used instruments and determine their value. Using a compiled database of instruments sold from various markets, The Lab World Group can establish what your equipment is worth based on market trends, sale cycles, and fair market value of similar equipment..
Each of these services is custom-tailored to your needs and offers different ROI, conversion rates, and selling cycles.
There are Risks to Using The Lab World Group
We’ve said it before, and we’ll say it again. Buying new lab equipment isn’t always doable. But despite the costs, you need the proper equipment to keep your research and development going. Without key instruments, work can come grinding to a halt. When you don’t have the cash to purchase equipment, buying used and refurbished is a practical option.
However, there are some downsides to the procedure that you should be aware of when considering purchasing used lab equipment through a third-party vendor, be it The Lab World Group or another reseller of lab equipment:
- Risk of buying damaged products: While acquiring used equipment, it’s always a possibility that you might end up buying a damaged product. Often, the sellers do not agree to the return and refund of the product. You not only lose a great deal of money, but you also have to start looking for equipment all over again.
- Lower lifespan of equipment: Used equipment can be days to months to years old. Depending on how much the instrument was used, the lifespan of the equipment can be greatly reduced. The more the equipment was used in the past, the lower its continued life expectancy will be. Unexpected repair and maintenance can significantly affect your budget.
- Limited warranty of equipment:. In some cases, there may be a warranty that covers your equipment for a short amount of time. It’s also possible to purchase a piece of used equipment without a warranty. Either way, without an active warranty, you’re unprotected in the event your equipment breaks down. You will not only be out of an instrument, but you will also have to cover the repair costs as well.
- Use by previous owner: The condition of the equipment highly depends on how well it was taken care of by the previous owner and how much it was used. Did they repair and maintain it throughout its use? Was it heavily used? It’s more likely you’ll obtain a piece of run-down equipment if it was used in a hospital and did not receive maintenance than if you purchased an instrument from a research laboratory.
- Previous servicing and maintenance: It’s always recommended to ask your seller about the previous repair and maintenance of the equipment. That way, you will have an idea of how the equipment was used in the previous setting and what you should expect from its usability. If the equipment was regularly serviced and maintained then you can be very confident in its running conditions and operational ability.
Lease Your Lab Equipment through Excedr
The Lab World Group is a Massachusetts-based buyer and seller of used equipment. It offers a range of lab equipment from several elite brands, such as Thermo Fisher, Biotek, and Eppendorf. The equipment available ranges from multimode plate readers, spectrophotometers, and chromatography systems to hot plate stirrers and even various consumables.
Buying used and refurbished lab equipment from third-party vendors is a viable procurement method for laboratories that are working on a budget and in need of equipment.
However, this method can also cost you more than you’d expect. There are a number of risks to buying used from third-party vendors that can include purchasing damaged or poorly maintained equipment or agreeing to deals that do not include warranties, on equipment that may soon break down or prove to be in poor working condition.
Rather than risk your budget on equipment that might be faulty and unprotected in case of breakdown, lease your lab equipment from Excedr.
Our leasing program makes equipment procurement easier and worry-free. You can lease something new and pay for it over a number of months, greatly reducing your upfront costs, or you can lease a refurbished model that has been repaired to the manufacturer’s exact standards.
All products we provide are top-of-the-line, in excellent condition, and protected under our standard warranty which includes repair and maintenance coverage.
By leasing with us, you can know for sure the equipment you’re procuring will be in excellent condition, covered under warranty, and taken fully care of during the duration of the lease. Save time and effort researching suitable equipment and lease your next instrument with Excedr.
Don’t have the budget to purchase lab equipment outright? Consider leasing through Excedr to save your lab time and money. Browse your leasing options today!