Why It Pays to Buy Pre-owned Lab Equipment, Especially in This Economy
What to look for, and how a one-stop shop like BaneBio can provide even more advantages
By Alex Keown
January 30, 2023
Economic inflation has negatively impacted every industry, including the life sciences. Smaller, more budget-conscious organizations are increasingly turning to previously-owned lab equipment resellers and niche service providers, including Frederick, Maryland’s BaneBio, to outfit their laboratory needs and extend the life of their equipment.
Doug Bane, Founder and President of life sciences logistics company BaneBio, explained that pre-owned laboratory equipment can be a cost-saving benefit for startups and small life sciences companies. Over the years BaneBio has become a reputable resource for companies mindful of their budgets. And this trend continues to grow due to inflation.
“On average, customers can expect to save between 50% to 75% when buying previously owned merchandise compared to brand new,” Bane told BioBuzz. “As an example, high-performance liquid chromatography (HPLC) analytical systems cost approximately $50,000 when brand new. A previously-owned version of that same equipment costs approximately $25,000.”
“Our customers are people who are highly conscious about their spending needs. We are usually approached by companies or academic organizations that don’t have a high budget for their equipment,” Bane said. He added the company’s customers largely come from organizations who are in early R&D phases or pre-manufacturing.
BaneBio is one of the top resellers in the BioHealth Capital Region, which currently holds the 4th-place position as a U.S. hub. When it comes to buying previously owned lab equipment, Bane offers a caveat. He said the cheapest prices don’t always provide the best deal for buyers.
“You have to make sure you’re buying from a reputable seller,” he said. “Your reputation is as good as your business is. My name is on the company, and I take great pride in that. That’s my reputation and that’s what I want people to know about BaneBio.”
Because acquiring pre-owned equipment can be a “buyer-beware” environment, Bane said it’s critical for organizations to find a re-seller who has a solid reputation. He also suggests looking at re-sellers who offer some sort of warranty and customer service following the sale.
He follows his own due diligence advice when acquiring equipment from companies that are closing down or are no longer in need of a certain piece of equipment in order to re-sell.
BaneBio offers a full line of previously-owned laboratory equipment, enough to outfit most any lab. Much of the equipment can be shipped through traditional carriers, but Bane said his company can also create custom-made pallets for larger or transit-sensitive pieces.
“We take every precaution with the merchandise we ship so it arrives undamaged,” Bane said. “We stand behind the equipment we sell.”
He noted the company has an internal quality control process to ensure equipment works as it is supposed to before a customer takes a product. Bane noted that sometimes that’s as simple as plugging a piece of equipment in, running it, checking all the dials, switches, and other parameters to see if it works as intended. Other times, it requires utilizing BaneBio’s in-house service engineer or bringing in third-party specialists to address any issues prior to a product being listed for sale. The BaneBio staff is trained for testing multiple types of equipment.
“Sometimes, if you acquire things second-hand, it may not work as intended. That gives people a sour taste in their mouths. That’s kind of what we try to mitigate, to instill confidence in what we do and that the merchandise is ready to deploy,” Bane said.
Beyond just equipment
In addition to selling equipment, BaneBio is also capable of offering service to their local clients, which includes onsite/depot repair, lab logistics & storage. Furthermore, through BaneBio’s partnership with the I-270 Innovation Labs, they can present more cost-effective flexible lab options to companies looking for lab space.
Even more, the organization also specializes in scientific equipment transportation, warehousing, packaging and more. The company is able to deliver equipment locally and also set it up for use. In 2022, BaneBio successfully moved Seraxis into its new Montgomery County facility. Beyond moving sensitive lab equipment, BaneBio also secured loaner equipment for Seraxis, which allowed the company to continue working with its cell cultures while its coolers and lab equipment were installed and calibrated at the new location. BaneBio was also able to provide cold storage units where Seraxis’ contents could be transferred into while the company units were moved into the new location and became temperature stabilized.
- About the Author
- Latest Posts
Alex Keown is a freelance journalist who writes about a variety of subjects including the pharma, biotech, and life science industries. Prior to freelancing, Alex has served as a staff writer and editor for several publications.
