How to Bid at Auction

For some, the auction experience is a new one and there may be some confusion as to how it all works and how to effectively place a bid.  At Rabin we make it our business to clearly explain the process to all new bidders in order to make sure the experience is a good one.  Our auctions are fun and easy to do and we welcome any questions you may have. 

To get started, all bidders must register for a particular sale.  Just because you have already participated in a Rabin auction does not mean you are registered for the next sale.  Also before you register, make sure you understand all the payment instructions and requirements.  You can register online or in person at the auction site and will need to put down a form of deposit and a have a credit card.  Once that is done, you will be given a bidder number.

We encourage our bidders to attend the public inspection before the auction to get an opportunity to view items they want to bid on.  Check on our website to see when that will take place.  If you are new to auctions, be sure to get there at the start to hear the announcements and an explanation of how the auction will be conducted. This is your chance to ask any questions you may still have.  For online bidders, we provide a conference number so you can call in to listen to the announcements and the auction.

Now we get to the actual bidding process.  If you are at the auction site and wish to place a bid, simply raise your bidder paddle.  For those that are bidding online, they only need to click the bid button.  The rest is easy.  The highest bidder wins the item(s) and will pay for the item or items once they have completed bidding.  Online bidders will receive an invoice via email shortly after the auction. 

Payment arrangements must be made within 24 hours.  A Buyer’s Premium and applicable sales tax are added to the final purchase price.  Items are your responsibility to pick-up and are only released to the buyer once the invoice is paid in full.  We generally have riggers on hand to assist with heavy machinery or equipment. 

Rabin Worldwide is an international company that specializes in creating liquidity for complex manufacturing facilities with idle or marginally productive assets.  Rabin’s operations include selling entire plants, multiple plant locations, or surplus individual items by auction or liquidation and much more. Past auctions include names such as Hostess, Braniff Airlines, Montgomery Ward, and the Railway Express Agency.  Please contact us to discover how we may assist with your asset liquidation process.