What You Have Heard: Myths/Fictions About Online Industrial Auctions

It is rather unfortunate that in this part of our world, wrong news travel faster than good ones. Online industrial auction is not spared the damaging rod as well. Many of those who are now active users of online auctions have at one point or the other heard a lot of fictions which held them down in fear until they took a self-willed step. Of course, everyone is fully aware that business is a risk and one must be guided. Yet, we must be careful not to let any myth or function restrain us from making use of unlimited benefits of online auctions. 

Myths/Fictions About Online Industrial Auctions

Someone must have told you something to dispel your intention to buy or sell used equipment through online auctions. Or perhaps it was the review of an unsatisfied customer that has so far informed your decision. Below are some myths and fictions that are untrue. Be mindful of them.

There is no market for online auction

The market for online auction is fast rising because of the desire for ease. Who doesn’t desire a platform that enables being in the comfort of one’s room yet be able to tap a button to get the job done? This is one of the advantages of online auction. On the other hand too, as more individuals are taking up manufacturing enterprises due to increasing human needs, there is increasing market for used industrial equipment for sale even at a price that is worth the investment.

No fair market; no fair value

This is one of the common arguments against online industrial auction. Well, we are glad to inform you that there is no other market to sell or buy used industrial equipment like online auction. As long as the item is valuable, you will surely get a good market value. In fact, you can sell used industrial equipment at a price close to its original value. 

All online auction sites do it the same way

Everything is totally wrong about this myth. All the auction sites available are not owned and run by the same persons. So how can they operate the same way? For us at Bidsuite, we have a network of industrial equipment auctioneers, buyers and sellers. Our clients boast of a comprehensively open market for their marketing needs. What we give is real-time support anywhere in the world through the fantastic knowledge of our line of machinery experts. We have the finest auctioneers settled across the globe. What we can boldly say in this respect is that information is key and it starts with finding out yourself about what is true and untrue based on performance, integrity and level of professionalism.

Online industrial auction is expensive

Well, online industrial auction introduces you to a lot of cost saving process. Unlike any other,

  • As a seller you have access to global and heterogeneous audience.
  • As a buyer, you don’t have to incur travelling cost before you are able to make an offer.
  • Above all, money is saved because you don’t have to plan a physical event.
  • It enables the judicious use of time.
  • It helps small businesses to reduce their cost of distribution.
  • You don’t have to bear inventory carrying costs like damages, warehousing, packaging that may limit business expansion. This is possible because you can sell any equipment faster via online auctions.

The choices available are limited

Online auction is a fast growing enterprise and the opportunities are vast. If you truly believe this myth, then you have been missing out. Online equipment auction allows you to see a lot of options and you can easily bid for the equipment that appeal to you.

Online industrial auction is restricted to million dollars sales

A great deal awaits any type of industrial auction as long as it is valuable industrial machinery. All category of equipment used in industries which include automobiles, hospital, agriculture and textiles are always available. You must have also been told that it is not a market for small businesses. Note that the online auction is not restrictive. It is open to every buyer and seller with interest in industrial machinery.

There are no deals

We don’t just attract buyers who simply want to bargain. Irrespective of where you are operating from, you will always find deals for any industrial equipment. Bidsuite has a very large number of marketplaces which grant you access to relevant auctions based on what you are looking for.  We are glad to inform you that because of our great industrial insights that span 35 years, we have successfully executed hundreds of auctions. Next time someone tells you there are no deals on online auctions; don’t forget to tell him or her that it’s definitely not at Bidsuite. 

Online industrial auctions are not reliable

As said earlier, every business enterprise is a risk and you never can tell what your gains and losses are until you try. But this should not lead one into concluding that online industrial auctions are not reliable. Even if those who promote this myth claim that they have tried about five sites, it is still not justifiable. You can always monitor bidding activities; no risks because as a seller, you are in control. 

It is easier to believe things that are untrue if you have failed to carry out a personal research. 

That is why there can be no end to the myths and fictions being circulated about online industrial auction. You definitely must have heard more than we have mentioned in this article. Knowing what is true and untrue begins with getting familiar with the process. If you are a seller or buyer who is interested in knowing more and getting started with online industrial, you can always contact us.