What is Auction?
The word auction, pronounced ok’shun, is derived from the Latin word ”auctio” which literally means-an increase. “Auctio” comes from another latin term or terms “augere” or “auctum” which means to increase (Webster’s collegiate dictionary). Webster further states that the word means a public sale of property to the highest bidder. In the United States, the expression is to sell, or put up, at auction. In England the term is to sale or put up to auction.
What is Online Auction in the English Method?
Online auction business model is one in which participants bid for products and services over the internet. Several types of online auctions are possible, in an English auction the initial price starts low and is bid up by successive bidders. In Dutch auction, multiple identical items are offered in one auction, with all winning bidders paying the same price- the highest price at which all items will be sold. Almost all online auctions use the English auction method.
Why Sell used restaurant equipment?
Opening a restaurant is an excellent to build a profitable business in United State, the restaurant industry in 2021 post yearly record high $799 billon of sales, 4% of the economy output. With that in mind, it is no wonder why new restaurants owners are always hinting for used restaurant equipment.
How can I sell my used restaurant equipment?
Varies by state and equipment type, the used restaurant equipment market is determined by Brand and Age the equipment.
What’s the most popular used restaurant equipment that I can sell in auction?
Used restaurant equipment like cooler, freezer, fryer, dough mixer, slicer, sink, bar Equipment, sandwich prep table, stainless steel work table, griddle, convection oven, ice machine, pizza oven, range, walk-in freezer & walk-in cooler, chargrill, Tables, Chair, Bar stool, booth.
Where and how to sell a single used restaurant equipment?
Useful information on how to List on Platforms for a Single item: For a single item, you could use site platforms like Craigslist, Facebook Marketplace, Offer-up, eBay, and many others. When it comes to pricing your equipment you want it to be fair, but you also want to get the best dollar value
What happened if you owe your creditors (Bank or lender) money for business equipment that you’re selling?
If you owe money (debt) on your business equipment that you want to sell, a best approach is to communicate as soon as possible with the creditor and discuss that you intend to sell the business equipment. The creditor will be entitled to the proceeds of the equipment up to the amount you owe them.
How do I place a maximum bid?
To place a max bid, type the maximum amount you wish to pay for the item(s). The computer will then bid for you up to and through your max bid.
When I can pick-up my wining item(s)?
After the auction has closed and the credit cards has been process & charged, showing an invoice was paid in full, an email is sent to all winning bidders with removal and detail instructions.
What’s happened if I don’t pick-up my wining item(s)?
If you do not pick up your items within the removal date and time, your bidding account privileges will be locked and suspended. Please bid accordingly!
Do you offer a shipping?
In some auctions we offer shipping and will be mentioned on the description details of the term of auction showing “shipping available”. If an auction does not offer shipping, we provide you with a contact an outside shipper (Freight quote, UPS, FedEx, etc.) to schedule and ship your item(s). Buyer will perform all work necessary, including loading and transportation. Buyer needs to provide the shipper with a signed copy of your paid invoice, a copy of your driver’s license. Pre-authorized person’s picture ID is required to be presented to our team manager for us to release or removing your item(s).
