Industrial Auction Buyer FAQs
Auction Buyer FAQs
Q: How do I register to bid online for an auction?
A: Online buyers can click on “Sign Up to Bid” on the equipment auction they’re interested in. If you’re not already a Bidspotter user then you must create a user profile with bidspotter.com. If you are already a user with bidspotter.com then you must register for the individual auction so that you join the online bidder approval process.
Q: How do I know if I am approved to bid online for an auction?
A: Once you register for the individual auction through bidspotter.com Revelation Auctions will be notified. Revelation Auctions will contact you via email with the additional requirements needed to be an approved online bidder. Once you meet the additional requirements for an auction you will receive an email from bidspotter.com stating your approval status.
Q: Is a deposit required to participate in an auction?
A: Depending on the nature of the auction, a deposit may be required to ensure that only serious bidders are in attendance and that the winning bidder will complete the transaction by paying for their item. If you do not make any purchases, the full amount of the deposit will be refunded to you within 3 business days after the final auction date. You can find more information on whether a deposit is required in the Terms and Conditions of the auction you’re interested in.
Q: How are auction items scheduled?
A: Auction catalogs list by number all items that are to be sold and the order in which the sale will occur. Occasionally, lots may be grouped together in one bid.
Bid quickly. Lots are staggered to end every 60 seconds when the auction begins closing and will be extended by 90 seconds from the top bid.
Q: Can I place a proxy bid?
A: Yes. If you are not available to bid at the time of the auction, you may place a pre-bid on our online bidding platform. We will bid this amount for you at the auction.
Q: When does bidding typically happen?
A: Buyers can start bidding 2 weeks before but most bidding happens 24 hours before end.
Q: Can I inspect the equipment I'm interested in before the auction?
A: Most of the time there is no access to building until auction week. Should it be a larger item in the sale, then we will try our best to make arrangements to inspect the equipment before inspection day. Equipment inspections are by appointment only and typically happen the day before the auction ends. You are responsible for, and we encourage you to make, any inspections prior to bidding on or purchasing assets. If you do not inspect an asset prior to submitting a bid, you irrevocably waive all inspection rights. View the auction details for more information about inspections or reach out to Revelation Auctions. You can also email Dan Chorzempa at email@example.com or David Marban at firstname.lastname@example.org.
Q: What is a buyer's premium?
A: A buyer’s premium is a small fee added to each item’s winning bid that goes to the auction house to cover sale costs.
Q: Do I have to pay sales tax?
A: In most states and municipalities, Revelation Auctions is required to charge sales tax. In cases of an exemption for resale or manufacturing purposes, please email us for the appropriate tax-exemption form. Please review the Important Information and Terms and Conditions in the auction details section of the auction you’re attending for more information.
Q: When will I receive an invoice for the equipment I have won?
A: Revelation Auctions typically issues invoices within forty-eight (48) hours after the auction date. All invoices are due no later than forty-eight (48) hours after receipt and, in any event, prior to the removal of your purchased assets. Read the terms and conditions of the auction you’re attending for more information on payment.
Q: What forms of payment are accepted?
A: Forms of payment accepted include ACH or wire transfer, and credit/debit card. Please view the terms and conditions of the auction you’re attending for more information on invoicing and payment.
Q: When can I pickup the machine I won?
A: A machine can be released once you have paid your invoice. Pickup is typically by appointment only and can have a timeframe. All information for pickup will be on the machine winner’s email including the exact address and point of contact. You can also see the pickup/removal times in the auction platform, as well as in the terms and conditions.
Q: How is equipment removed?
A: All items at our auctions are sold “as is, where is” which means all buyers are responsible for removal of their purchases. Buyers are able to remove their purchases once the auction is over. Please refer to the specific auction’s webpage for attending riggers.
Tools may be required to pick up your purchases as Revelation Auctions does not provide tools for disassembly of your purchases. Information regarding available riggers including company name, email, phone number, and removal dates are available in Bidspotter. You can find information on removing your purchases with a rigger and without a rigger in the Terms and Conditions.
Q: Is the equipment sold with a warranty or guarantee?
A: We strive to represent the equipment well and have a history of satisfied buyers and sellers. However, the equipment is sold as is/where is and we do not provide a warranty or guarantee on the equipment being sold at auction. If you have questions regarding an item, its history or condition that are not answered by the lot description, please contact Revelation Auctions for further details.
You are responsible for, and we encourage you to make, any inspections prior to bidding on or purchasing assets. If you do not inspect an asset prior to submitting a bid, you irrevocably waive all inspection rights. View the auction details for more information about inspections or reach out to Revelation Auctions. You can also email Dan Chorzempa at email@example.com or David Marban at firstname.lastname@example.org.
Q: What is your policy regarding refunds and/or adjustments?
A: All sales are final. All assets are sold as is and no refunds, returns, credits, or exchanges are given. Please view the terms and conditions of the auction you are attending for more information.
Q: Who is Revelation Auctions affiliated with?
A: Revelation Auctions is a member of the Machinery Dealers National Association (MDNA) and the National Auction Association (NAA). These affiliations not only recognize dealers who have a wide range of technical experience and data to help customers improve their productivity, but to ensure we advance ourselves in industrial machinery auctions with continued education and resources. Learn more about our affiliations today.
Q: What if I have a question that is not answered here?
A: If you didn’t find the answer to your question, please reach out to our team of auction experts at Revelation Auctions today!
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