If you’re looking to get a great price on farming equipment, or you want to sell your collection of vintage vehicles quickly and easily, a timed online auction could be the answer you’re looking for.
As the experts in both in-person and online machinery auctions, our clients choose Cheffins for buying and selling with ease. The process of creating an account and browsing the online auction calendar couldn’t be simpler – whether you’re familiar with our monthly Cambridge Machinery Sales, or this is your first time engaging with the auction system.
How do timed online machinery auctions work?
Our timed online auctions are a convenient alternative to our in-person events that draw hundreds of buyers and sellers every month.
Instead of arriving at the auction site in time for lots to be put up for auction, online timed auctions typically run for one week (though this may differ depending on the lots being sold). Potential buyers can browse the auction catalogue in advance, and attend viewings to see the items they’ll be bidding on before the sale concludes.
Our timed online auctions involve three simple steps:
Registration and viewings
Bidding
Completion of sale
Register your account and attend viewings
In order to participate in our online machinery and vintage auctions, you must first register an account with our auctioneer team. This is a straightforward online form that lets us know who you are and how to contact you:
You can then browse our online auction calendar and find an upcoming event that’s of interest to you; whether that’s an online farm equipment auction, or one of the many other categories that we cover.
Register for our online auctions
You’ll only be able to start bidding on lots once the auction opens, but you can add lots to your watchlist to make sure you don’t miss out once bidding begins. This is as simple as clicking the heart icon on a lot, which adds the item to your watchlist in your account:
All lots will be available for viewing before the auction closes, and the viewing day(s) for the lot will be detailed on its respective listing page. If you have any questions about this process, please speak to a member of our auction team.
Place your maximum bid
Once the online timed auction gets underway, you’re able to begin bidding. We’d recommend that you place your maximum bid at the earliest opportunity to avoid disappointment. This is because if two bidders place the same maximum bid, the first one to do so will win the lot on completion.
When you place your maximum bid, it will be displayed on your account in one of three colours:
Green: This means that you have met the reserve price, and are currently the highest bidder
Amber: You are the highest bidder, but the reserve price for the lot has not been met. You need to increase your bid if you want to win
Red: You’ve been outbid, and need to increase your maximum bid if you want to win
You can keep track of your bidding status on the lot’s respective page, or in the ‘My bids’ section of your account:
Bidding will occur automatically, and your current bid will increase in set increments up to your maximum bid. This could work as follows:
You place a maximum bid of £3,000 on an item, meeting the reserve price of £2,500. Your bid starts at £2,500
Somebody else places a maximum bid of £2,800. Your current bid will now jump to £2,850 (this exact change will vary per auction)
If anyone else then joins in, your bid will increase until it reaches your maximum. At this point, you may choose to raise your maximum bid, or allow somebody else to win this lot
Browse our upcoming auctions
Win the auction and receive your items
Once the auction has completed, you’ll need to pay the amount that you won the lot for, as well as a buyer’s premium fee. This will be established before the auction begins, and is typically as follows:
Collection details for each auction are specified before the auction gets started, but if you’re unsure about how or when you need to collect your items, please contact our auction team beforehand, who will be happy to help.
What are the benefits of online machinery auctions?
For both buyers and sellers, online machinery auctions have a number of advantages that make them an appealing choice. On the seller side, this includes:
No need to negotiate: The timed online auction process removes negotiation entirely, which can help you to achieve higher prices if your lot becomes competitive amongst buyers
Sell fast and easily: Unlike other forms of sale, auctions like these get your items sold efficiently. There’s no need to wait around to hear whether a buyer really wants to purchase your equipment or collectables
For buyers, there are also some benefits that make online auctions worth considering:
No experience needed: In-person auctions can feel intimidating if you’ve not taken part before. Online machinery auctions take all the stress out by automating the bidding process and clearly displaying how much you’re going to pay
Buy with confidence: Our team will provide lots of imagery to showcase the lots ahead of an auction, and we can supply you with further details upon request
Take part in our online machinery auctions today
From farm equipment to automobilia, we run a wide range of timed online auctions throughout the year. Whether you’d like to list your items for sale or take part in an auction as a buyer, we can walk you through the process and answer any questions that you might have.
To learn more, speak to our specialist machinery and vintage auction team, or browse our upcoming auctions to see what’s happening soon.