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EQUIPMENT AUCTIONS MyEquipAuctions Com Form
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People also ask
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How do machinery auctions work?
In simple terms, a machinery auction is an event where sellers offer their used equipment and machinery up for bidding, and buyers compete to secure the highest bid. -
What should you not do at an auction?
Avoid talking loudly or disrupting the bidding process. If you need to leave the room, do so quietly and without disturbing others. Don't bid on items you're not interested in: It can be tempting to bid on multiple items just for the thrill of the auction, but this can quickly lead to overspending and regret. -
What are the disadvantages of auction?
Auction weaknesses are: Reserve price is not always met. The market value of your property is decided on the spot. You can never be sure of precisely how much you will get. Marketing costs tend to be higher. -
Is it better to bid early or late?
You stand a greater chance of getting the item by placing your highest bid in the closing seconds. If an auction listing has a reserve price, bid up to that amount as early as possible, so other bidders aren't attracted by the low starting price. -
How does the auction process work?
The bidders lift up their bidder card to announce their bid price so the auctioneer can identify who is making the bid. The process ends when there are no more bids, and the buyer making the highest bid gets the item. The highest bidder takes ownership of the item immediately after paying their bid price.
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