Online auction sites, where a lot is sold to the highest bidder, are big business, making it possible to purchase almost anything you can think of. No wonder then that specialist online auction sites are rapidly gaining in popularity. The presence of the internet now means that there is a truly global marketplace, with no geographical restrictions and no lost business hours travelling to and from the auction. Online auctions make the whole process simple and easily accessible, leaving you free to get on with your work until your item is due to end.
Specialist online auction sites are ideal, particularly for business customers wishing to purchase items relevant to their trade, or for sales of less than 200 lots. The process is quick and simple, the first step being to register on the site or at the auction selling venue itself, if close by. You can inspect the goods beforehand, but remember that, depending on your proximity, you could even buy goods seated right in front of the auctioneer's rostrum and partake in the sale. Bear in mind however, that once you start bidding, then you are entering a legal binding contract, and if you have placed the highest bid for a lot at the time the hammer falls, you are contracted to complete payment and become the owner of the product so remember to stick to your budget. Of course, every auction is different, attended by buyers with different styles and levels of knowledge, varying budgets and requirements.
For sellers, both online and traditional auctions are a great way to achieve a return on surplus items as auction fees tend to be fixed, minimal, time-efficient and can be an instant way to manage the cash flow of a business liquidating stock. Every business has surplus or overlooked assets which have probably not yet been fully utilised.
This means that at anytime, should cash flow become a real issue, then selling items at auction will help to release some much needed funds. It is indeed the most simple way to sell off surplus assets including plant and machinery and some auctioneers will design and implement a customised auction or disposal programme which focuses on generating cash quickly.
An auction holds several advantages for the buyer too; the equipment is readily available, there are no lead times, the item has had a proven ability to perform the task required, it takes the guesswork out of trialling a new machine and of course, you could potentially make considerable savings by not buying brand new.
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