Construction News
25/05/2011
Reserved Auction Revamp Paying Dividends
Online auction portal www.mrmachinery.com decision to change its bidding process has proved a big hit with both buyers and sellers.
Earlier this year, the used plant, heavy equipment and vehicle specialist moved to a reserved model of auctioneering, which gives sellers the opportunity to set a base price below which their item may not be sold. Buyers participating in Mr Machinery's fortnightly online auctions are now informed if their offer is below the reserve place, and if so, prompted to submit a higher bid.
"Moving to reserved auctions has proved extremely popular with both buyers and sellers alike," Mark Bacon, Managing Director for Mr Machinery revealed. "For sellers, it has given them much greater control over the entire process – they can set a minimum price, and if the value isn't met, it is entirely in their hands whether to accept a lower offer, negotiate with the bidder or reject the deal.
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"Advantages are also there for buyers too. Reserved auctions reduce the possibility of disputes over final sales prices and with sellers given a much greater say in the auction process, more and more have been encouraged to make their used plant, machinery and heavy equipment available for auction, leading to a much wider range of items on offer for potential bidders."
Mr Machinery is a dedicated online a unique platform for the sale and purchase of used plant machinery. Founded in 2007, the organisation has a global audience across more than 170 countries worldwide and currently attracts an average of 25,000 unique users to its site every year with extensive experience within the heavy equipment and logistics industries, the team provides both buyers and sellers a professional, personal and reliable service.
For all enquiries please contact either Keith Richards in the UK office on +00 44 7808 144012, 01743 469601, or via Email at kr@mrmachinery.com or Gary Loughran Territory Manager for Ireland, on +00 353 87 668 2408, via Email at gl@mrmachinery.com or Skype: mrmachineryireland.
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