Bidding 101

How does bidding on Equip-Bid work?

All bids placed are in the Max Bid format. A max bid is the highest amount that you are willing to pay for an item and is kept private from other bidders until that amount has been exceeded. Bids are automatically placed on your behalf against other bidders until your maximum amount is reached.

Examples:

Example 1 — Starting bid price for an item is $2.00. Bidder #11111 places a $100.00 bid on an item. No other bids were received, and the auction closes. Bidder #11111 will remain the high bidder at $2.00 and the rest of his max bid will be unused.
Example 2 — Starting bid price for an item is $2.00. Bidder #22222 places a $100.00 bid on an item and becomes the high bidder at $2.00. Bidder #33333 then places a bid of $50.00 and is notified "Bid Received; Higher Bid Exists." Bidder #22222 will remain the high bidder at $52.00 (assuming the minimum bid increment is at $2.00).

Where do I find information about the item?

There are a few different product descriptions included below each lot in a grey box. Familiarize yourself with these as they will help you make informed decisions before you bid!

Factory Sealed: New, in-box, never-used, original product in original box. We stand behind the listing as described. Because we strive to inspect all items, if we open a box and the contents appear factory sealed, we will label it as such. Being “new,” we have not checked for function/internal damage. You may inspect/test before you leave; otherwise, there is a 48-hour return policy.

Appears New: Item appears to be in new condition, not used. They may or may not be in the original box. They should work as expected. We inspect for the following:

Does not appear to have been pre-owned
Box may be damaged, however, MAJOR components/pieces are intact and functional. We cannot guarantee all screws/bolts are in the box, but we will do our best to note if we don’t see them. Hardware such as screws and bolts are generally available online or at a hardware store.

You may test your item before you leave. If it does not work, you may return it for a full refund; otherwise, there is a 48-hour return policy.

Open Box: Open Box represents several conditions, such as incomplete, pre-owned, new but not verified for condition, untested, could be fully functioning, or dead on arrival (DOA). We have not tested these items. As always, we will continue to do our best to describe what we see. Please use inspection time to preview and test open box items before you bid. Open Box items may not be returned; they are solid as-is.

Damaged: These items have known damage. We will do our best to describe/picture the damage. We don’t test for functionality. These could be items never used/owned, such as a grill that had shipping damage to the lid but that was never put together or used. This could indicate a scratch or a dent, or the item could be totally broken. We encourage you to preview damaged items during our inspection hours. Damaged items can not be returned; they are sold as-is.

Partial or Incomplete: These items represent merchandise that is shipped in multiple boxes. For example, a bed may ship in 3 separate boxes. Box 1 may contain the headboard, box 2 may contain the side rails, and box 3 may contain the footboard and slats. In order for the bed to have all its parts and be complete, it needs all three boxes. Sometimes we only receive Box 1, or maybe only Box 3, or even Box 1 & 3; when this happens, we will categorize the item as Partial or Incomplete. If we know how many boxes it takes to complete the item, we will also put Box ___ of ___. In this example, it will look like: Partial: Box 1 of 3. Additionally, under “Additional Details,” we will categorize the condition of the contents in that box. Partial or Incomplete cannot be returned; they are sold as-is.

Where can I place bids?

There are three locations on the site where an auction item may receive bids.

Auction Listing Page
Auction Item Detail Page
Bidder Dashboard

Can I delete a bid?

No, by placing a bid you are entering into a contract to purchase. Use caution while placing bids and verify the amounts before placing a bid.

What is a reserve?

A reserve is an amount that bidding must reach before an item will be sold. Items that have a reserve will state "Reserve Not Met" underneath the current bid price until that bid price has been met. Once a reserve price has been exceeded, a notice will state Reserve Has Been Met. Bids placed against an item that has a reserve will be consumed until the reserve price has been exceeded. (Read more...)

What if an item does not meet the reserve?

Items that fail to meet the reserve are not sold and revert back to the seller. Seller information is not provided to bidders.

What if two bidders have the same max bid?

The first bidder to submit the max bid will remain the high bidder. (Read more...)

Can I raise my max bid if I am still the high bidder?

Yes, you may increase your max bid amount if you are already the high bidder.

What is extended bidding?

Every lot has a scheduled closing time. However, if there is active bidding within 5 minutes of the scheduled closing time for an item, that item will remain open until 5 more minutes have elapsed since the last bid on that item was placed. Using the refresh button will allow you to see exactly how much time is left before an item will close. (Read more...)

What is an outbid notice?

An outbid notice will alert you that your bid has been exceeded. Outbid notices are sent to your registered email address with a direct link to the item that you were bidding on. You may opt-out of these notices by visiting your account settings.

I bid an amount, how is another bidder still in the lead at the exact same price?

Your bid was accepted, however, most likely another bidder had already placed a bid for the exact same price. In the example below, bidder 1931 had the exact same bid as the second-place bidder, 52242. Since Bidder 1931 placed their bid first, they remain in the lead. (Read more...)

Auction Bidding 101

BIDDER KNOWLEDGE BASE

Watch our how-to video: