Types of Auctions
We offer four different types of auctions:
Catalog Only Listing: This is just a listing of the items available from a specific auction from an IAA Member. Bidding will take place on the auctioneers own website, or a third party bidding platform. No bidding will take place on IndustrialBid.
Timed Online Only Auctions: Within this auction, every lot will have a timer, when the time runs out, so does your opportunity to bid on and buy that lot. Sometimes the lots will extend in time, this is a feature we have in place to keep those bidders from bidding on something at the very last second, leaving the under bidder without opportunity to bid again and win the item. Timed online only auctions depend heavily on your action when you’re outbid, it is imperative you login quickly to win and secure your item.
Live Webcast Auctions: You’ll bid in real time, the bids go quickly and there is no telling when the auction will end or when a certain lot will be offered, the auction starts at the listed start time and ends when the last lot is sold. Have fun in this environment and if you’re a competitive buyer that knows what you want and can execute quick buying decisions – you’re in the right place.
Hybrid Auctions: If you guessed that this is a hybrid of both Live Webcast & Timed Online Only Auctions – you’d be 100% correct! A portion of the lots will be sold by a live auctioneer selling the items to you, and another portion will be sold via the automatic auction timer. The reason we developed this industry leading technology is because auctioneers missed interacting with you in the Timed Online Only Auctions – so we gave them an opportunity to save their voice a little, all while maintaining their craft of selling industrial items with the gavel in hand!
One thing that is common and always will be in all of these auctions; the bid button. It’s the big button that has a price on it – click it quickly and often if you want to be the winner.