What is an Online Auction sale

Where the volume or likely realisable value of surplus assets is insufficient to justify the cost of a live auction, or where operational circumstances or security considerations make a live auction inappropriate, then one alternative method of sale may be Online Auction.

With an Online Auction the pre-sale promotion and marketing is similar to that with a live auction. However, viewing is by appointment and potential buyers are usually accompanied by our staff whilst on the seller’s premises.

A detailed sale catalogue is produced on our website together with a range of pictures of each lot. Potential buyers register at the web-site and log on to bid on each lot. The best current bid for each lot is displayed on the website and potential buyers wishing to bid higher may do so by predetermined minimum increments.

The auction may be ongoing for several days and will close at a predetermined time and date. Subject to any reserve prices which may have been fixed, generally the highest bidder on each lot at the point where the Online Auction closes is the buyer of that lot and an appropriate invoice is raised. Once payment has been received into our client account we liaise with the client to release the goods to the successful bidder.

Benefits of Online Auction:

• Worldwide Participation
• Reduction in overhead cost though savings on accounting / security function on site
• Strict Control of potential buyers on site
• Assets situated in a number of different geographical locations can all be included in the same online auction.

To view our General Conditions of Sale for Online Auctions please click here.