Machine auctions can be a great way to get equipment at a fraction of the cost. However, there are a few things to keep in mind before bidding on machines at auction. Do your research, set a budget, and stick to it. In this article, I will cover where to find one, how they work, and tips for winning machinery. I will also share my experience with the machine auctions near me.
Map of Machine Auctions Near Me
For “Machine Auctions Near Me”, see the map below…
What is a Machine Auction?
A machine auction is a type of live auction where machinery is sold to the highest bidder. Many types of machinery can be found at machine auctions, including excavators, backhoes, cranes, and bulldozers. Some carry tractors, lawnmowers, and related farm equipment. Other machine auctions include industrial equipment like lathes, mills, lasers, tanks, ovens and more.
The machines up for auction are typically used or surplus equipment that is no longer needed by the company owning it. Machine auctions are open to the public, and anyone can bid on the machines up for auction.
How do Equipment Auctions Work?
These events work like any other live auction. There are a few key things to keep in mind before bidding, such as:
- Do your research on the machine you’re interested in and set a budget.
- Stick to your budget! It’s easy to get caught up in the bidding and end up paying more than you wanted to.
- Check the machine’s condition before bidding. It’s important to know what you’re getting yourself into. If there is a pre-auction inspection period you should attend it.
- If possible, test-drive the machine before bidding. This will give you a better idea of its condition and how it works.
When you’re ready to start bidding, machine auctions typically follow these steps:
- The auctioneer will start the bidding at a set price. Typically a price below the value of the equipment to entice bidders.
- Bidders will then raise their paddle to signal their bid. Each bid is considered a legally binding agreement.
- The auctioneer will keep going until there are no more bids or the machine has been sold.
- The machine is then sold to the highest bidder.
Tips for Winning…
Here are a few tips to help you win at machine auctions:
- Know your budget and stick to it. It’s easy to get caught up in the bidding and end up spending more than you wanted to.
- Do your research on the machine you’re interested in. This will help you know what to expect in terms of price and condition. eBay is a good place to get comp prices and help you figure out what a fair bid is.
- If possible, test-drive the machine before bidding. This will give you a better idea of how it works and its condition. Take nothing for granted. Listen to the motor, feel around for leaking liquids, and smell for smoke.
- Pay attention to the auctioneer. They will be giving you important information about the machine, such as its condition and history. Ask if the machines have any service records.
- Be prepared to walk away if the bidding gets too high. There’s always another machine auction just around the corner.
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My Experience with Machine Auctions Near Me
I have attended a few machine auctions near me and have had mixed results. I’ve found that doing your research ahead of time is key. I also recommend test-driving the machine if possible. I’ve had some bad experiences with machines that looked good on the outside but were in poor condition on the inside.
One machine auction I attended had a lot of construction equipment. I was interested in a particular excavator. I did my research ahead of time and knew what it was worth from similar machines of the same age and condition on eBay.
When the bidding started, I held back for a bit to see where it would go. The bidding got too high for my budget so I walked away. While I still think about it sometimes, it went for more than $15K of what I felt it was worth. I have since acquired one for significantly less then it went for at auction.
How to Find Machine Auctions Near Me
Machine auctions are typically advertised in local newspapers and online. You can also find them by searching for “machine auctions near me” or “construction machinery auction”. Another option is to contact construction companies in your area and ask if they know of any upcoming machine auctions.
Pro Tip: One of my best methods of finding local machine auctions near me is to use Google Events. This helps me find smaller localized events that are less heavily attended than national events. Smaller events mean less competition to bid against. Check out Google Events Machine Auctions Near Me This Month.
Machine Auctions Near Me – Conclusion
These events can be a great way to get your hands on some high-quality equipment at a fraction of the cost. However, it’s important to do your research and be prepared before bidding. I hope this guide has helped you understand how machine auctions work and how to find them near you.