EquipNet, Inc.
MarketPlace  |   Auctions  |   Tech Solutions  |   Appraisals  |   My EquipNet  |   Services

Search for Equipment
Advanced Search

EquipNet Online Auction

EquipNet's Online Auctions are conducted entirely on the web utilizing a "high-bidder-wins" competitive bidding process to sell pre-owned equipment. Our proprietary EquipNet Smart Auctions™ deliver a unique bidding platform offering Buyers multiple opportunities to win items at our auctions. Additionally, Sellers gain a high level of discretionary flexibility to approve bids in real time.

Help/FAQ



EQUIPNET SMART AUCTIONS

You'll always know where you stand with EquipNet Smart Auctions.

WHAT IS IT?
EquipNet's Smart Auction Status Indicators automatically update you on the changing status of your bid.


HOW DOES IT WORK?
All bids in our SMART AUCTIONS will be measured against our Confirmed Sale Range indicating that your bid price is high enough to confirm the sale if yours is the highest bid at the close of the auction.


WHAT DOES THE SMART AUCTION STATUS INDICATORS MEAN?

Red Status Indicator
No bids have been entered for this item yet.

Yellow Status Indicator

Bids have been entered and the listing is open for further bids. At the close of the Auction any listing still displaying the Yellow Status Indicator indicates that the high bid for this listing remains below the Confirmed Sale Range. With EquipNet's SMART AUCTION, your bid still has a chance to be accepted. EquipNet will contact the seller to request approval of your bid price and confirm the sale.

During the Yellow Status Indicator stage, bids of any amount are encouraged, even a bid as low as $1. Any bid has the possibility of being reviewed and confirmed by the seller.


Green Status Indicator

Bidding has entered into the Confirmed Sale Range and this item will be sold to the highest bidder at the conclusion of the auction.

 
NOW THAT'S A SMART AUCTION!


AUTO PROGRESSIVE BID-HOW IT WORKS

Your Auto Progressive Bid will immediately be accepted at the close of the auction if the bid submitted exceeds the Minimum Acceptable Reserve amount set by the Seller…unless you choose to OPT OUT.

EXAMPLE ONE:

You submit an Auto Progressive Proxy Bid of $500.00 (the maximum amount that you are willing to pay for Item X)

The Auction ends after several bids and you are the high bidder with an auction closing bid of $200.00-(Yellow Status-meaning that the closing bid does not meet or exceed the Minimum Acceptable Reserve).

Unless you have chosen to OPT OUT earlier by checking the OPT OUT box…

You still win!

You will be awarded the item at the lowest possible amount the Seller is willing to accept (the Minimum Acceptable Reserve). In this example, because your Auto Progressive Proxy Bid was $500.00 (max) and this is equal to or above the $275.00 (Minimum Acceptable Reserve) set by the Seller, you win at the $275.00.

How to OPT OUT

You may OPT OUT of having this Auto Progressive bid immediately accepted at the close of the auction by checking the box located on the bidding screen.

By checking the box on the bidding screen to OPT OUT the Bidder agrees to the following:

I understand that my high bid at the close of the auction that remains in yellow status (did not meet or exceed the Reserve) will be presented to the Seller, who will have no obligation to consummate a sale with the bidder for this item. The Seller retains the right to confirm a sale on any item that closes in yellow status at the recorded closing bid amount.

EXAMPLE TWO:

You submit an Auto Progressive Proxy Bid of $500.00 (the maximum amount that you are willing to pay for Item X)

The Auction ends after several bids and you are the high bidder with an auction closing bid of $200.00-(Yellow Status-meaning that the closing bid does not meet or exceed the Minimum Acceptable Reserve).

You previously choose to OPT OUT…

Even though the Seller’s Minimum Acceptable Bid is $275.00 for this item, since you choose to OPT OUT, there is no obligation by the Seller to accept your bid at the $200.00 even though your Auto Progressive Proxy Bid had a maximum of $500.00. We will still try to see if the Seller will accept your bid, the seller is free to resell the item to another bidder or retract the item from the auction.

FIXED BID:

A fixed bid is a single bid that you wish to submit at a specific dollar amount.



WHAT HAPPENS AS BIDS MOVE HIGHER?
When the bidding continues higher and enters the Confirmed Sale Range, the Yellow Status Indicator changes to a Green Status Inidcator signaling that this listing will be sold to the highest bidder at the close of the auction. Watch closely as this change from Yellow to Green can happen at any time when the seller approves a sale.



OUR SELLERS ARE MOTIVATED! DON'T PASS UP A CHANCE TO BE A SMART AUCTION WINNER! GO FOR THE GREEN!


[ Back ]