AUCTION PROCESS
Machine Tool Bids auctions are open to the public, and anyone can register and bid at no charge. Once an auction opens, alerts are sent to our prospective buyers to invite them to bid.
Buyers can place bids at any time, up until the end of the auction listing. Buyers set the maximum amount they’re willing to pay for an item, and our auction system automatically places bids to keep them in the lead up to their maximum.
When buyers set a maximum bid, they enter into a contract to pay up to that amount if they win the auction. Buyers may end up paying less if no one else bids close to their maximum.
The earliest bidder trumps any matching bids. Bids placed within the last 5 minutes of the auction will extend the listing by 10 minutes until no more bids are placed. The highest bidder that meets or exceeds the reserve price wins the machine.
Auctions are launched with a fair starting bid price in red, which starts below the machine’s minimum reserve price. The auction reserve price must be met or exceeded for the machine to sell. Once the reserve price is reached through bidding, the machine price will turn green, and the machine will then sell to the highest bidder.
MAKE AN OFFER
Have a budget in mind? Within each auction and for sale listing, you have the option to make an offer. You will receive confirmation when your offer is submitted. Next, Machine Tool Bids will consider all offers and confirm whether your offer is accepted or rejected.
BUY DIRECT
Machine Tool Bids goes beyond auctions. We have a large, continuously updated inventory available for immediate purchase and ready to ship to your facility. You can buy these machines at a fixed price. See available listings here:
INSPECTIONS
Buyers can request an inspection on any equipment prior to auction day or prior to purchase. You will find detailed equipment information and close-up photos of all machines on our website, as well some listings with video footage of the machine under power.
To request an inspection for any listings, please provide some brief details as well as some listings with video footage of machines under power: