FAQs

If you're having a down year, you may not need the accelerated depreciation deductions for tax purposes. Also, section 179 depreciation generally cannot take your business further into a loss for tax purposes. However, bonus depreciation may still be beneficial. If you have gains from other business ventures or income outside of your business activity, bonus depreciation can still help offset some of that income. If not, you may still be able to deduct losses from depreciation in future years.

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Purchasing new equipment can result in higher depreciation deductions. However, you can still take bonus depreciation on used equipment purchased at auction. Both carry tax benefits, but your long-term business needs and cash-flow planning should drive your decision-making.

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NOTE:  2024 depreciation is 60% and lowers to 40% in 2025

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For tax year 2024, the Section 179 deduction limit is $1,160,000. The deduction begins to phase out on a dollar-for-dollar basis if the total amount of qualified equipment placed in service during the tax year exceeds $2,890,000. Once the total investment reaches $4,050,000, no Section 179 deduction is allowed. The deduction cannot exceed the business's taxable income. However, any unused deduction can be carried forward to future years.

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It is difficult to say given current policy proposals from both candidates. However, many sections of the Tax Cuts and Jobs Act (Trump Tax Law) are set to expire/sunset in 2026. Given that, there will at least be some changes no matter the administration. The safe bet now is to act as if there will be changes, knowing we are in a low tax environment currently and can take advantage of the current depreciation benefits.

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Generally speaking, leasing can be more beneficial if the need for the asset is less than 1 year. If the need is greater than 1 year, it generally makes more sense to purchase and take advantage of depreciation deductions.

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There is one more interest rate cut that's expected, and the consensus right now is that it will be 0.25%. This can change if inflation data or unemployment figures change significantly, but the federal reserve has hinted toward one more 0.25% cut before year-end.

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The seller provides a list of equipment for sale. We conduct an inspection of the identified equipment, then upload the pictures, videos, and descriptions for worldwide exposure.

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In an online auction you can bid online in real time. A live virtual auction is also a real time, online auction, and is "called" by an auctioneer.

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It is seller’s choice. Auction produces fair market value through competitive bidding. Private selling involves a sales team working on your behalf to sell your equipment for a price that you have agreed to list and sell it for.  

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Yes. We will inspect your equipment so that we can prepare a detailed online listing. We will take photographs, videos and document all equipment specs.

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With Black Star, your equipment can be sold in an online timed auction, or inside a live virtual auction conducted online by our auctioneer, or we can sell your equipment as a private sale (no auction). We can also customize a hybrid approach when selling multiple units.

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We conduct customized and personalized marketing that leverages industry publications, social media campaigns, websites, global networks of bidders/buyers, partnerships, sales catalogs, flyers and other promotional advertising, targeted sales outreach, eblast communications, and more.

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Yes. We conduct dedicated live virtual, or timed online auctions for our customers who may be considering a complete dispersal or looking to do a fleet realignment for example. We can also include your items inside one of our regular online auctions.

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Black Star will sell your equipment remotely from your site, which would eliminate all transportation fees.

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Once all funds have been received from all buyers, Black Star will settle your account within 15 business days.

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For complete dispersal auctions, the seller will set aside a day or more for onsite buyer inspections. For single items, arrangements can be made for you to view the equipment. Please note that our inspectors collect as much data as they can and take multiple pictures and videos to show the entire asset, and we are transparent in our listings with all findings.

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An Asset Manager will be in touch with you immediately after purchase to walk you though the process and coordinate pickup arrangements once your payment has cleared.

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5 business days.

This is an additional percentage charge on top of the equipment selling price that the buyer pays and may vary depending on the type of equipment. This amount can be different from sale to sale.