Should You Buy Used Lab Equipment from Copia Scientific?
Last updated on January 4, 2023 by
Copia Scientific Non-OEM Lab Equipment Reseller
Did you know that the resale and second-hand market is expected to reach $53 billion by 2023?
Nowadays, consumers are more open to shopping in sustainable ways because it can get them what they want or need without potentially adding to rising CO2 levels. Furthermore, if the product is used, it’s likely they’re getting it for a cheaper price than if it were new. Shopping second-hand through a reseller is especially useful in research labs, where acquiring new laboratory equipment can empty your pockets.In fact, it has become a preferable approach to procuring lab equipment.
Today, there are many platforms available that help users easily acquire used equipment. One such organization is Copia Scientific, which was formed out of a three-way merger between San Diego-based BioSurplus, Inc., Massachusetts-based Biodirect, and Boston Microscopes.
Founded in 2021, the company is one of the nation’s largest resellers, refurbishers, and service providers of lab equipment to companies in the biotech and life sciences industry.
The company was formed by the merger of three firms: Biosurplus Inc., Boston Microscopes, and Biodirect. These companies’ CEOs, Bill VanDeWeghe, Bryan Hoffman, and Rich Tula now serve as CEO, CRO, and president of Copia Scientific.
Headquartered in Taunton, Massachusetts, with its west coast office in San Diego—some of USA’s biggest life science markets—the company specializes in liquid handling, lab automation, flow cytometry, microscopy, and detection technologies.
In this article, we will review the lab equipment management services provided by Copia Scientific, its technical squad, the auction system, and the possible risks associated with it.
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Copia Scientific Equipment Management Services
Copia Scientific is on a mission to equip scientists and accelerate scientific discoveries. As such, it provides life science industries with access to equipment, technology, and services in a convenient, cost-effective manner.
To serve this end, the company offers the following five types of services to biotechnology and pharma startups looking to acquire surplus equipment.
Technology Sourcing, Procurement, & Consulting
Copia helps customers with sourcing, procurement, and provides consulting:
- Copia helps organizations choose the right product/equipment for their research applications based on several factors, including future applications, current needs, and budget. And, after considering budget constraints, it sources either new equipment or certified and reconditioned instruments with 180 day warranties.
- It helps organizations create a procurement infrastructure, and can even act as a purchaser on the customer’s behalf. This includes providing product sourcing, service contract negotiation, and pricing.
- While choosing technologies for organizations, Copia ensures that all equipment meets any and all criteria, such as quality, accuracy, flexibility, maintenance cost, etc.
- The company helps organizations in taking decisions for service and maintenance contracts and negotiations.
Technology Risk & Life-Cycle Management Services
Copia’s asset management programs help organizations ensure that they always have a strategy in place for equipment procurement. Its Technology Risk and Life-Cycle Management Services include:
- The company helps the organizations to increase productivity, minimize exposure, and increase profits by managing technology and project expiry, introducing new technologies, and transitioning old technologies to the less critical department.
- It helps in identifying alternative acquisition and financing approaches.
- It identifies redundant, obsolete, and underused instruments and helps with its redeployment and exit strategies. This approach increases the operational efficiency and technological uses of the organizations.
- In addition to helping with availing strategic acquisition solutions, Copia helps companies with start-up planning, emergency asset relocation, and annual audits and valuations.
Technology Fair Market Valuations & Assessments
Copia Scientific offers expert and well-researched assessments and valuations of high-end technology or lab equipment. It helps you to get an idea of your asset’s value for individual sale, liquidation, collaboration, merger, or facility sale, which are vital for maximizing return on investment.
Technology Remarketing Services & Business-to-Business Strategies
Copia offers contract remarketing services to companies who are looking to sell their surplus, underused, or redundant laboratory equipment.
Additionally, it provides marketing and networking programs to maximize the reach of the organization to prospective clients and identify revenue-generating opportunities.
Technology Sales Representation
Copia provides marketing and sales representation to manufacturers of new technologies, who are looking for a national or regional presence.
Onsite Manufacturer Technicians – The LabSquad
The LabSquad is a business division of Copia Scientific. Its technicians are trained in multiple instrument types from various manufacturers. In their single visit, one technician can implement and work on multiple preventive maintenance procedures single-handedly.
They help with the maintenance of many types of equipment including liquid handlers, plate washers, centrifuges, and thermal cyclers.
The LAbSquad technicians ensure the best operational condition of the laboratory instruments either sold by Copia Scientific, original equipment manufacturer, or surplus equipment brokers.
Lab Equipment Auctions on Copia Scientific
Copia Scientific offers a range of equipment in auctions, including incubators, COVID testing consumables, work chambers, equipment for vaccine development, and bioreactors.
The registration to the online auctions can be done by visiting its website, where you can also find the details for the date and time of the beginning of the upcoming auctions. You can also learn which equipment is placed in the auction and which manufacturers or companies are participating.
To participate in the Copia Scientific auction you will need to accept all the terms and conditions and general terms of the auction website.
Here are some important notes provided by the company for buyers:
- All sales will be final and no return and refund will be applicable.
- If you have any questions regarding the auction or available lots, you need to ask them before the closing of the auctions.
- There will be a fixed premium rate for each auction that you can find on its website.
- Buyers will be responsible for all shipping and packaging costs, and even logistics.
- Following the auction, the customer should arrange for the pick-up and removal of the equipment.
- The tax rates are to be applied based on local, state, and federal regulations.
For more information regarding Copia Scientific, including trending news, asset management services, and auctions, visit Copia Scientific’s (formerly Biosurplus’s) website.
The Potential Downsides of Copia Scientific
Copia Scientific is a great platform for buying, selling, and trading lab equipment. Its auction and asset management services can be an excellent solution for laboratories who want to cost-effectively procure equipment for research. However, there are some limitations to Copia Scientific that are worth considering:
- The auction doesn’t guarantee that you will leave with any equipment.
- Auctions do not occur frequently, and if they do, there are chances that you couldn’t attend it because of inconvenient auction timing and proximity.
- For any replacements, you must notify the company in writing, which is a time-consuming process.
- After purchasing equipment, you might discover that the equipment has not been properly maintained. This might cost you an unwanted significant amount of repair and maintenance costs.
- After purchasing equipment through Copia Scientific, you will be solely responsible for its shipping and packaging services and costs.
That said, Copia’s services and platform can provide you with the equipment you need at a reduced cost, making it easier for you to outfit lab space, hire more, and buy the necessary consumables and supplies for research that continue to become more expensive.
Get Guaranteed High-Quality Lab Equipment by Leasing with Excedr
Copia Scientific is a life sciences and biotech laboratory equipment reseller. The company hosts numerous auctions, maintains an inventory of used lab equipment for sale, and offers startups and organizations a range of asset management services, including equipment life cycle management, market valuations and assessments, technology remarketing, and sourcing and procurement of equipment.
You can purchase the equipment from their website based on product categories or acquire your desired surplus equipment through its auction platforms.
Despite the benefits of lab equipment auctions, you can face several challenges that make procurement and equipment maintenance more difficult: infrequent auction times, lack of relevant equipment, under-maintained equipment, and a lack of logistical support.
If you want to avoid these challenges, consider Excedr’s leasing program. It is potentially less cost-effective than buying used through a reseller. But, it does provide you with high-quality, new or manufacturer-refurbished lab equipment, all under warranty and at a fraction of the upfront price, making new technology much more accessible. In fact, our program includes an extended warranty, giving you protection beyond the typical 12 months manufacturers provide.
All that is to say, when you lease with us, you won’t run into the same potential equipment issues you might run into when dealing with buying used lab equipment. Oh, and did we mention we handle the logistics for you too? Now you don’t have to go through the hassle of getting the equipment to your front door or installed in your laboratory.
Our program not only reduces the stress of acquiring the equipment, but it also helps you accelerate your research and hit critical milestones more quickly, thanks to state-of-the-art equipment.
Don’t have the budget to purchase new lab equipment outright? Consider leasing through Excedr to save your lab time and money. Browse your leasing options today!