You may realize that Aucto is the marketplace for selling industrial equipment. It gives sellers unprecedented freedom and control, allowing them to sell what they want without fees. Aucto even has turnkey listing services, which gives the ultimate peace of mind to those just looking for a hand-off liquidation process.
Who are these sellers? Much more than just a screen name, there are three distinct types of seller profiles on Aucto: auctioneers, businesses, and individuals. We will talk about who they are, what they need, and how Aucto helps them.
These days, more industries are moving online. The auction industry is no different as new auction websites open each day. Sites like Aucto have the capability to host both online and webcast auctions. Though you do not need to be an auctioneer to host an online-only auction, webcast auctions are primarily utilized by the professionals.
Auctioneers typically charge a buyer’s premium on the final bid amount of any lot sold in an auction. The premium is displayed before you confirm your bid, so you know what your total bid amount will be. (To learn more auction terms, please visit Must-Know Lingo Before You Bid in Your First Industrial Auction)
While buyer’s premiums are necessary for auctioneers, they present a problem that is prevalent in online auctions. Almost all online auction platforms charge a 3% commission for any lots sold. Some auctioneers choose to absorb this cost, while others pass it on to buyers through an increased buyer’s premium. This premium, in addition to payment processing fees, can inflate the costs of bidding and buying. These increased charges discourage bidders from participating in auctions. To learn more about auctioneers on Aucto, please visit Host Your Online and Webcast Auctions with Aucto.
Aucto does not charge any fees for selling, nor does it charge payment processing fees. The buyer premium is capped. For buy now liquidations, it’s 7%. In auctions, Aucto caps the buyer’s premium at 15%. By keeping additional buyer costs low, Aucto can attract more and better buyers on the platform. To learn more about auctioneers, please visit the Mike Brandly Auctioneer Blog.
Medium to Large Businesses
A medium or large company often has a relatively substantial amount of equipment or machinery that is surplus to their operations. A recent study by the Investment Recovery Association shows that on average, 20% of a business’s assets are surplus to its operations. To learn about the Investment Recovery Association, please visit their website here.
When upgrading, companies still need to get rid of old equipment. Every dollar spent maintaining and storing is money they could spend somewhere else. What these sellers need is a centralized site that will sell their items quickly so they can recover their invested capital. The first challenge here is finding an industrial-only marketplace suitable for production machinery or equipment. Very few sites cater to an industrial client base, which means equipment takes a long time to sell once listed.
Aucto is strictly an industrial-only marketplace. This means businesses can access a large pool of industrial buyers from different industries. This increases the chance that they will sell their equipment swiftly. We also have valuation and turnkey listing services that will take care of the entire selling process for you.
Individuals and Small Businesses
Last but certainly not least is the third type of seller on Aucto: individuals and small businesses. These could be hobbyists or small shops like wood or metal fabrication stores. They probably have a few items to sell, and these may be highly specialized. For these operations, selling their items quickly may not be as important. What is important is getting the most money for their item.
For small sellers, one of the most major issues is visibility. They simply do not have the same amount of resources larger businesses do to sell their items. Also, since they most likely do not have a significant number of items to sell, they represent a small amount of profit to an auctioneer or broker. Auctioneers will often pass over these offerings because they simply don’t have a lot of equipment to sell. If they cannot get their product in front of the same pool of buyers as a bigger business, there is less of a chance to sell their item.
Another challenge for these companies is one we already mentioned: fees. Not only do listing fees hurt sellers by limiting the amount they receive for their equipment, but it also restricts the number of potential buyers they can sell to through increased prices. Aucto is open to sellers of any size. No matter how many items you want to sell, you can sell on Aucto. We allow you to sell on the same platform, to the same buyers, as a bigger company does. As mentioned before, Aucto is free for sellers.
I hope you have enjoyed learning about the various sellers that use Aucto, their needs, and how the platform helps them. The key takeaway here is that no matter the type of seller you are, Aucto is the marketplace for you. If you have any further questions on being an Aucto seller, please visit our seller section here.