If you are reading this, you most probably have used equipment seated in the backyard waiting for the next auction day in your neighbourhood or thinking on how to dispose of the idle lawn mower locked in your father’s barn.
Why wait when you can start receiving bids for your machinery from the comfort of your home and derive money from your asset at the click of a button? The efficiencies involved in online auctions are more compared to traditional auction practices. Sellers have unlimited access to buyers in regions where the auction sites operate, attractive listing fees andcompetitive purchases.
The most effective auction sites for machinery specialize in that niche and have proven industrial auction marketing strategies. This is dissimilar to other online auction sites that sell products ranging from different types, sizes, and models.
This assortment of products means that consumers find it a bit hectic to look for a specific product from a collection of many different items on sale. As a seller, always check for auction sites that suits your preference and their success level in terms of thetotalamount of revenue from previous auctions, numberof active members and traffic levelsis convincing.
What are the benefits of online auctions?
Online auctions are a sure bet to landing the best buying price from buyers. It is essentialto understand the different types of auctions first and the ones that have a higher prevalence of optimum sales at your auction site. English auctions are the most simple type of auctions and are characterised by bids ascending until the highest and final proposal is reached.
The process is also open toall participants. In Dutch auctions, the price for the item on sale is set at its optimum and is gradually reduceduntil the best bid for the itemis placed. Sealed bidsare not viewable by participants,anda winner is announcedonce the bidcloses. Another type of auction is a reverseauction. The roles played by both buyers and sellers are interchanged,andit’s the buyer in this situation who requests for bids from sellers.
Industrial auction sites are offering more competitive advantages for their clients. These include valuation services, advertisement platforms and decommissioning among others. You might not know the current market value of your machinery,butyour auctioneer should be able to assist you with this. You also have the option of selling these items remotely or have them shipped to the auctioneer’s storage facility. Thisprotects your machinery from any wear and tear brought about by frequentmoving.
The market in online auctions iswell distributed,andas a seller,you have unlimited access to potential buyers who are willing to pay more than the asking price.
Industrial auction marketing also helps in targeting relevant buyers and reduce the length of time it takes to close a deal. Enabled search features on auction sites provideauser-friendlyexperience,andit’s easier to access the list of items they are looking for.
An explanation of the process
If you don’t have a personal auction account in an auction website already click on https://www.bidsuite.app/what-is-bidsuite/ to have a brief but clear understanding of how online auctions work. To auction offyour machinery online, start by getting in touch with your preferred auctioneer and request for an assessment visit by auctioneer representatives. The assessment is meant to valueyour machinery, take 3D images and draft a description of the item to make it ready for publication. After this, your primaryresponsibility is to wait for the setauction calendar date and close the deal.
Once all information regarding your machinery is displayed, buyers can access it through the search portal by entering the required keyword. The buyer with the highest amount of bid gets the item,andpayment modes are offered either through mailor the auctioneering site. Payments do not directly come to you but instead have to pass through the auctioneers account so that they can deduct their commission. Once the fiscal transfer is complete, the auctioneer can provide shipment and organize for machinery pick up from your premise.
Get good value for your used machinery by contacting approved auctioneers with top-notch industrial auction marketing systems.
