How often do you use your smartphone to shop? Be honest, we know it is often which is understandable because you can do anything from your smartphone! From shop to browse and even pay bills! Is your business in the market for used heavy equipment? You should consider online equipment auctions.
There is nothing more exciting than attending your first auction, but with it being the busiest time of year, you might not have the time to do so. But with technology you can make bids during the couple minutes of downtime you have. It is a faster and more efficient way to get heavy equipment for a low price.
Preparing for online equipment auctions
The first thing you should do is read the auction policies! Often times you are asked to register online before the day of the auction. The way companies verify you as a buyer is through your credit card. After you are signed up and you want to bid, the seller needs to approve you before you can start bidding, so be sure to not register last minute! It is important that you understand the policies regarding money and shipping. Every auctioneer is different!
Once you are registered and ready to go, take some time to look up the items you are interested in and get a good idea of how much you should be paying. Set a maximum price you are willing to spend to help you from over spending.
There will be a lot of price tags thrown at you when online bidding, be sure you understand the costs! You should know that the final bid price, is not the total amount of money coming out of your wallet. At online equipment auctions expect to pay a premium which pays the administrative fees. Typically they range from 10 percent to 25 percent. Another cost you should consider is shipping as well as a removal fee. If the equipment is too large it is common that sellers charge a removal fee. Also, be aware of any taxes or import fees that come your way.
When you are researching which online company to go with, you should review the company’s history and reviews. You want to avoid any scams by shopping at a reputable company. Lyon Alex & Sons is a family business that’s known for their loyalty and integrity.
Tips for online equipment auctions
Pay attention to the item that is receiving the most bids. This can be an indicator on which equipment is the best bang for your buck.
You should also avoid having any round bids. You are more likely to get what you want by setting your maximum at $251.24 rather than just a flat $200.
Before purchasing any equipment, be sure to ask for the maintenance records. This will inform you of the equipment past and if there are any ongoing problems that need to be fixed.
When you are making bids online, remember to turn your notifications on so you know if someone outbids you! This way you can place a new bid immediately.
What makes Lyon Auction unique is the wide variety of brands and equipment all in one location. Companies who are looking to liquidate a large fleet in one single auction or if you are looking to buy, Lyon Auction is the perfect place for you. Our company prides ourselves in providing stress-free buying and selling. If you have any questions, feel free to contact us or check out our upcoming auctions and online bidding!