Get FinancingEquipmentfacts Brings The Local Auction Ring To The World
Live auctions used to have limited reach and a local pool of bidders, but not anymore. Equipmentfacts’ simulcasting technology opens live auctions to bidders everywhere. Like floor bidders, online bidders must agree to each sale’s terms and conditions, and auctioneers have the final say on approvals for each new bidder.
Support staff from Equipmentfacts provides the necessary hardware and ensures everything is in working order before the sale begins. Staff can also assist with other duties, either remotely or on-site, including uploading the sale catalog, handling bidder registration and approvals, submitting online bids to the auctioneer, answering bidder questions via online chat, and clerking the sale.
Local Goes Global
Equipmentfacts enables auctioneers to bring a global online pool of bidders to local live auctions. Each lot in an Equipmentfacts auction receives unmatched exposure ahead of the sale day, appearing near the top of buyer search results on AuctionTime.com and relevant Sandhills trade sites and mobile apps. For example, a combine listing would also appear on TractorHouse.com, and a day cab would appear on TruckPaper.com.
This multi-channel marketing in the weeks leading up to the auction attracts interest and encourages pre-bidding activity, from experienced auction buyers and first-timers alike, driving more bids prior to and during the live auction, leading to higher selling prices.
How Equipmentfacts Works
During a live auction, the Equipmentfacts Heads Up Display notifies auctioneers when an online bid comes in or when a buyer is about to bid with the mouse pointer hovering over the bid button. Floor bidders can view the status of the current lot and which lots are coming up next via a TV or projector screen.
For bidders using Equipmentfacts.com or the Equipmentfacts app, the Bidder Board offers one-click bidding and a real-time view of the action.
Auctioneers can access the Equipmentfacts Bidder Map in the Sandhills Cloud after the sale to view the distribution of online bidders in their auctions. They can also filter to narrow the view by repeat bidders and download the sales stats in an Excel file.
Tools For Bidders
Bidders can save auction assets to a Watch List by logging into Equipmentfacts.com and tapping the heart icon on a listing. They can also create custom Watch Lists by selecting Create New Watch List. They can opt to receive notifications about items on the Watch List by clicking Notification Settings under Account Details. Equipmentfacts will alert the user when an event has started, when bidding for the lot has begun, when they’ve been outbid, and more, to encourage them to act.
Buyers can get an early start by placing pre-bids. When viewing an Equipmentfacts listing on Equipmentfacts.com, a Sandhills trade site, or a Sandhills-hosted website, an interested buyer can click the listing’s View Terms And Conditions button to place a pre-bid. Equipmentfacts will then automatically bid for them on sale day, increasing their bid by increments to keep them the highest bidder until their maximum bid is reached. Equipmentfacts will also add pre-bid items to their Watch List, making them easy to track. Pre-bidders can sign up for alerts whenever they are outbid and more.
Equipmentfacts Bidder Board
The Bidder Board puts an auction at bidders’ fingertips. From this single screen, bidders can track the auction and view messages from the auctioneer, use an online chat to ask questions, and view video and audio. They can register to bid, agree to the terms and conditions of the sale, and enable one-click bidding on the assets they are interested in.
A version of this article first appeared in Sandhills Magazine. You can find current and back issues in the Sandhills Magazine Archive.