Online auctions are a convenient way to access numerous auctions without spending the time and expense of traveling to each location. Both business owners and equipment dealers have the chance to study auction items to get a sense of real values and prices in the marketplace and to comparison shop.
Since you do not have to travel to each separate auction site, it frees you up to be able to bid on only one or just a few items, and sites such as Rabin Worldwide do not charge a fee for online bidding. Additionally online auctions provide your whole team the opportunity to get involved in the process and to weigh-in on the value that the acquisition of the equipment brings to the business. By taking advantage of the ability to pre-bid, your company is even able to implement budget restraints and project costs more accurately.
The experts have tips on how to maximize the benefits of online auctions to get the most out of the experience. The first suggestion is to research as much as you can about the items you are interested in buying such as age, condition, and any warranty information. Check the Internet for similar items for help in determining value. Be sure to read all of the information provided by the auction house carefully in advance, and if you have further questions, email them to see if they can get you more photos or information.
Well before any bidding is due to start; set a limit of how much you want to spend on the items. Determine the worth the items have to your business and do not bid any higher than that. Lastly before you place a bid, make sure you are aware of any additional charges or fees and understand all the terms of payment and conditions of the sale.
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.
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