Benefits of Online Industrial Equipment Auctions

Online auctions have been around since before the pandemic. However, there has been a rise in online industrial equipment auctions since the restrictions brought on by the pandemic. Many auctioneers transitioned to hosting online auctions due to the limitations on large gatherings and the convenience that web-based auctions offered. Given their prevalence, buyers, as well as sellers, have adapted well to this change due to the many advantages extended by online auctions.

 

Reasons why you should host online equipment auctions

Virtual access to view product quality

Online auctions provide auctioneers with a platform to publish accurate and most recent photos and videos that can depict the true quality of an item. This allows prospective buyers to view all relevant data that can help with their bidding decision.

No geographical limits

Traditional auctions often require auctioneers and bidders to stay in one place until they go through all lots. Hosting an online auction allows bidding without geographical boundaries. It grants a worldwide reach while letting buyers participate from any timezone without the need to travel, thus helping sellers reach a larger audience.

24/7 auctioning and bidding

Traditional auctions call for bidders to attend the auction, which means clearing up one’s schedule to accommodate the auction’s date and time. However, with online auctions, buyers can participate and bid on their own time, be it right after a busy day or over the weekend, as long as they bid before the closing date. This allows sellers to reach the otherwise unavailable or busy potential buyers.

The option to filter the catalogue

With traditional auctioning, one would have to spend time to find items of interest by carefully scrutinizing the entire catalogue. However, online auctions allow sellers to organize their lots more efficiently, which further lets buyers browse through the online catalogue with ease. Sellers can also segregate their data by type, brand, and opening bid, among other options.

Work with an industry-leading auction company

If you need help to host an online auction, work with reputable auction specialists such as Infinity Asset Solutions. Infinity uses the best auctioning platforms and is dedicated to helping businesses sell surplus and used equipment.