How To BuyEach year hundreds of pieces of waste and recycling related equipment are bought and sold across Canada. Some at auction companies, some by private sale, others through dealers. In each case the purchaser needs to be in the right place at the right time to get the equipment they need. Our goal is to make the equipment available to buyers on a more regular and frequent basis. This page explains how to purchase equipment at Waste Equipment Exchange when you need it. It also has links to our registration page and terms and conditions page. Please take the time to review both, as you will have responsibilities as a bidder or buyer.Before you are able to participate in an auction at Waste Equipment Exchange, you must be a registered user, which is QUICK, EASY and FREE, please follow the REGISTER NOW link at the top of the page. First, check to see if the auction is a 'Fixed Price Auction', 'Dutch Auction' or 'Standard Auction'. To check, open the listing and in the first portion of the description under 'Item Description' it will list the type of Auction: 'Fixed', 'Dutch' or 'Standard'.
If the auction is: Fixed, then the item is listed for sale and the asking price is what the owner is selling the item for, similar to a classified ad listing. Usually the asking price is an indication of what the owner is trying to sell the item for, but is open to offers which are made through our client service dept. If the auction is: Dutch, then there is more than one item available and the items are identical (100x4-yard front load bins for example). In a Dutch style auction, the high bidder has the opportunity to take all the items or as many as he would like. Then other bidders have the opportunity to purchase the remaining bins at the same price. If there are no takers, the items will be re-listed at another time/date and auctioned again. If the auction is: Standard, it is the most familiar type of auction, however in an online auction, you are given a little more flexibility to participate. The standard auctions at Waste Equipment Exchange are held over a longer period of time (7-21 days), giving bidders ample time to view and inspect the items, ask the seller specific questions about the item, arrange financing, place a proxy bid etc. The seller does not have to arrange any transportation to an auction yard and maintains control of their equipment until payment is received. The auctions at Waste Equipment Exchange are held over a specific period of time, depending on the seller. We offer the seller options of 7, 14, or 21 days, which will allow bidders, like you, the time to arrange financing, and ask specific questions about the item being offered. Each piece of equipment will be listed with a full description of the item along with several pictures, to give bidders the opportunity to view the item from various angles and get as much detail as necessary to make them comfortable with the item they are bidding on. Third party inspections of the equipment can be arranged and are strictly at the option of the seller. Bidding: Standard and Dutch auctions at Waste Equipment Exchange are started with a minimum or starting bid. The first bid will open with the set starting bid amount. The second and subsequent bids must be greater than the starting bid and must meet the minimum bid criteria. The minimum bid increment is the lowest bid amount excepted, during the particular auction and will vary depending on the type of item or equipment being sold. For example if the starting bid on a Front Load truck is $24,500, the fixed bid amount will be $250 (meaning the next highest bid must be greater then $250). You can enter your maximum bid amount (the most you are willing to pay) and let our system bid for you. Each time you are out bid, the system will bid $250, until your maximum has been reached. If you win the item for less than your maximum bid, you only pay the winning bid price and not your maximum bid amount. While many auctions posted at Waste Equipment Exchange are un-reserved, a seller has an option to place a reserve on their item. A reserve is the lowest amount that the seller is willing to accept for an item. An auction that has a reserve will be noted during the auction for all bidders to see. Once the reserve amount has been met, the item will be sold at the highest bid placed. If an item is not bid up to the reserve at the time the auction closes, the item will be removed and returned to the seller, who will have 3 options: A/- The option to re-list the item at a later date, B/- Contact the highest bidder to accept their offer, even though it does not meet the reserve bid, C/- Remove the item from the site. All these options are strictly at the discretion of the seller. If you are the high bidder of an auction item, Congratulations. You will now be expected to pay for the item and complete the transaction. Additional information can be found in the Term & Conditions section of the site, which will outline the responsibilities of a winning bidder. Have some other questions about selling? Please visit our Help section, or contact us at admin@wasteequipmentexchange.com |
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| 0 AUCTIONS Sep 05, 2010 16:25:28 |