Online Auction FAQ
Auction / Bidding Info
We Utilize Online Timed Auctions
Bid for items up for auction over a pre-determined period. The high bidder at the end of the auction wins the item.
How Timed Auctions Work
Buyers place bids during the time of the auction. The highest bid at the specified closing date and time wins the item. If a bid is placed within the final minutes of a timed auction, the Proxibid system will automatically extend the bidding timeframe, ensuring the buyer willing to bid the highest amount always wins—no sniping here.- Bidding has a start and end date/time.
- Items close for bidding all at the same time or one-by-one in equally spaced intervals—this is determined by the seller
- All bids are submitted online.
After an Auction Ends / Winning Bidder Notification
Soon after an auction closes, invoices will be emailed to all winning bidders. It will include a list of your auction purchases, amount due and instructions on pickup/removal. Contact Your Equipment Guys to arrange shipping, if needed. Be sure to check your SPAM if you don't receive an invoice after winning items.
Auction FAQ
Maximum Bid Feature
A maximum bid is a pre-determined amount that a bidder is willing to bid up to. When a bidder enters a maximum bid, they are telling the auction application to place bids on their behalf, not exceeding the maximum amount.
Entering a maximum bid does not guarantee that the bidder will win the item at, or below, the amount entered.
When two bidders place the same maximum bid amount, the high bid will be awarded to whichever bidder placed their maximum bid first.
What is a Staggered Closing?
Sales on the Your Equipment Guys website typically close at 3 items per minute which means bidding will close on intervals. This feature works great with the auto-extend feature to closely emulate a 'live' auction. Sales with fewer items may close at 1 item per minute and larger sales with more items may close at 5 items per minute.
What is a Dynamic Closing?
The closing time of an asset is automatically extended an additional 3-5 minutes whenever a bid is placed within the last 3 to 5 minutes of the asset's closing time.
Auction Shipping Questions
Can I have my auction winnings shipped?
If Shipping is available for the particular auction: Contact Your Equipment Guys to arrange shipping, if needed. Be sure to check your SPAM if you don't receive an invoice after winning items. We are unable to ship items from some off-site auctions. Each auction is noted whether shipping is or is not available.
Call us directly for additional help immediate answers to your questions.
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