How do you sell equipment online?
1. Choose Your Auction Company
Research the various online auction companies, pick your top choices and give them a call.
2. Choose the Type of Auction
Online auctions can offer timed auction, have set opening prices or allow sellers to set a reserve price.
3. Consign the Equipment
Consigning the equipment gives the auction company the right to sell it.
4. Arrange an Inspection
Auction companies should arrange to inspect the equipment on your property. The inspectors can make suggestions about improvements to the machine but they should not be required. The results of the inspection, along with photos taken by the inspector, will be included in the equipment auction page for bidders.
5. Preview the Equipment
Auction sites often allow bidders the chance to preview and compare the equipment prior to auction.
6. Attend the Auction
You should be notified of the time that the auction will begin and you can check during the auction if you are curious what bids are being placed.
7. Receive Payment
The auction company should send an invoice to the winning bidder and a sales receipt to you. The buyer send funds into a secure account and the auction company alerts you that the funds have been received so that you can release the equipment.
8. Arrange Transportation
The buyer arranges transportation of the equipment from you to its new location. When the buyer receives the equipment and verifies the condition, you receive the payment. The auction company is responsible to resolve any disputes about the condition of the equipment or terms of the sale.
