Frequently Asked Questions (FAQ's)Q. How much does it cost to bid?
A. Bidding on for-profit entity auctions is free. Register on our site, and bid on as many pieces of equipment as you like. There are no transaction-based fees charged on any auction posted.
Bidding on non-profit/public/education entity auctions are on a credit or subscription based system. You have the option of purchasing a credit for unlimited bidding on one auction for $1, or purchasing a per-month subscription for $8 that will allow unlimited bidding on any auction for $8 per month.
Q. How much does it cost to post an auction?
A. The fee to post an auction is based on what you feel the auction is worth. Unlike most auction sites which take a percentage off of the final selling price of the equipment, AuctionEquipment takes their fee upfront. That fee is based on how much you are willing to sell your equipment for, namely your Reserve Price. We never charge transaction-based fees on any auction you post. Here is the fee schedule:
|Up to $10,000||$50|
|$10,000.01 to $30,000||$150|
|$30,000.01 and above||$500|
PLEASE NOTE: These charges do not apply to NPE [non-profit/public/educational] entities. Click here for more details.
Q. Is it possible to edit my auction?
A. Yes. Once you log on to AuctionEquipment click on the My Auctions link. Then click on the edit link below the auction’s title. This will allow you to edit all fields with the exception of duration of the auction, reserve price, starting bid, and take it home price. Note: This feature is only available when an auction is still active.
Q. What's the difference between closing and cancelling an auction?
A. Closing an auction means you are ending an auction. The closing of an auction is used to end an auction after the highest bidder wins an auction. The closing of an auction is also used when you have arranged with one of the bidders to make a deal outside of the auction. Cancelling an auction means you are ending an auction for other reasons such as the equipment is no longer being offered for sale.
Q. Do I have to specify a zip code for my auction?
A. We strongly recommend that you do so. By default, the zip code you provided when registering at AuctionEquipment’s site will be used for the equipment’s location. For example: Sellers may have equipment that is located at a satellite office in a different state. In that case, a zip code should be entered to inform bidders that the equipment is at that particular location.
Q. What's the difference between "Take It Home" and "Reserve Price?"
A. A reserve price is what a seller specifies is the minimum price at which they feel their equipment should be listed.. This is the minimum price at which the seller is willing to sell the equipment. This differs from a starting bid; a starting bid is usually set low to gauge the price at which other people may feel the equipment is worth.
The Take It Home price is the price at which you agree to sell your equipment. Therefore, the person that offers a bid for equipment at the Take It Home price automatically wins the auction.