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Buyer Prep Tips for an Online Auction

March 11, 2019

While most online industrial equipment auctions are as you would expect at a live auction – it is imperative for you to do your due-diligence when it comes to making bids on big ticket items so that you don’t have any buyer’s remorse down the road.


Today we’re going to go through a few preparation tips for buyers in the days leading up to an online industrial equipment auction:


Mark Your Calendar


So at this point you’ve come across a live auction you want to attend. The bid items seem well suited for your needs and you think you’d save big as opposed to buying brand new. After you’ve figured out the details of the auction be sure to mark your calendar for the date, time and other relevant information pertaining to the auction. You’d be surprised how many people forget about these critical details. Be sure to hit the attend button or make your bid during the dates and times the auction is live.


Know the Auction Platform


Some website layouts may not function intuitively. Before you decide to attend the online auction of your choice, be sure you know the ins and outs of how the auction platform operates. Know where to find relevant information, and what buttons to hit when you’re ready to commit to making a bid. You don’t want to lose out on a great deal because you were ill-prepared.


Ensure You're Properly Registered


Before you can even participate in an online auction, be sure to register and get accreditation from the auctioneer. You must be approved by the auctioneer to participate in the auction. While the approval process varies from auction site to site, you must ensure that you are properly registered and approved before the time of the online auction.


Attend an Online Auction Hosted by a Credible Auctioneer


Finally, be sure that the auction is hosted by a reputable auctioneer. You don’t want to attend an auction that is hosted by an auctioneer known for complications or technical difficulties during or after the online bidding process.

Luckily Infinity Asset Solutions offers decades in experience in providing auction services for buyers and sellers alike. From commercial auctions and industrial auctions, to appraisals and audits – Infinity Asset Solutions is a reputable name in the auctioning of equipment in a large and diverse range of industries.


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