Equipment auctions are for construction companies, farmers and individuals who need equipment to get their jobs done. Buying new is expensive, and it sometimes takes longer than buying from an auction. Purchasing secondhand heavy machinery from one of Lyon’s auctions has its advantages, such as better prices, an expansive selection and transparency. Here are some tips for winning at equipment auctions this summer!
Bid loudly, clearly and at the right time
The auctioneer will need to both see and hear you to account for your bids. Speak loudly and clearly when bidding. Timing is important when it comes to bidding at live auctions. If you bid too soon, the price may get driven up early on and you won’t get the most bang for your buck; you also risk others outbidding you. If you wait too long, you might not be able to get the equipment you need because the price is already too high. It’s all about finding the happy medium, which is usually midway through the bidding process.
Pace yourself while bidding
It’s important to know when to stop. Set a budget and stick to it. Sometimes, amid all the commotion and adrenaline associated with auctions, it’s easy to get caught up in wanting the item no matter how high the price gets. Know that getting secondhand heavy machinery for a good price matters, too; not just winning the auction.
Bring a team
Bringing a team can help you get the items you want, especially if you need a bunch of things and multiple auctions are happening back-to-back. Some people also use a team to aid in winning a bid, just be careful when bidding against each other as you don’t want the price to get too high. Having other people with you also ensures you get your bids in.
Be quick and efficient
Auction bidding happens quickly, so it’s necessary to be on top of it. You are going to need to make quick decisions on the spot. You also need to pay attention to the increasing price so you don’t spend too much or miss out.
Get to know the auctioneer
Getting to know the auctioneer is a polite thing to do, and it’ll benefit you as well. It’ll help them notice you in a sea of potential buyers and get your bids easier. Plus, being kind gets you far as kindness comes back around.
Know what you need
Beforehand, be sure you know exactly what you’re looking for. When you get to the auction, take a look at the equipment to ensure everything is good to go. Preparing helps you plan ahead for your company and budget. Know what you need and what you’re willing to spend.
Get quality secondhand heavy machinery with us
If you’re in the market for new machinery, consider purchasing from an equipment auction. We ensure you’re getting quality equipment, and we want you to keep coming back. If you have any questions, don’t hesitate to ask! Contact us with any questions or comments. You can also take a look at our upcoming summer auctions.