HOW IT WORKS
FAQ
Selling on Machines & Bids
1. Submit Your Equipment
Click on the Sell a Machine button. Provide the basic details requested in the form. Note that sellers pay a seller’s fee based on the winning bid amount.
2. Prepare Your Listing
Once we accept your equipment, we’ll ask for additional details and photos. Ensure your equipment is not listed elsewhere and be ready to engage and answer questions during the auction.
3. Finalize Your Auction
Review and approve your listing draft. We’ll schedule your auction, and it will go live shortly after.
4. Participate in the Auction
Active participation is key. Respond to questions, and enjoy the excitement of the final bidding moments.
5. Auction End
After the auction, you’ll receive a checklist and the buyer’s contact information to finalize the sale.
Finalizing the Sale
1. Make Contact
After a sale on Machines & Bids, we facilitate direct communication between buyer and seller for transaction completion, providing a tailored checklist for a seamless process. We offer guidance and support for effective post-auction sales.
- Contact the other party promptly after the auction concludes, maintaining courtesy and positivity for a smooth transaction.
- It’s advisable for the seller to present ownership proof, like a copy or photo of the title and registration.
We can also help with title transfer and lien search. See our optional service fees for details.
2. Payment & Documentation
Buyers are expected to complete full payment for the equipment within seven (7) business days of auction closing.
- If the seller can pay off the loan, they should do so promptly and provide loan clearance proof.
- Should the seller lack funds, the buyer might directly settle the outstanding loan amount and then pay the seller the remaining purchase cost.
- Creating a detailed Bill of Sale, signed by both parties, is crucial. We will provide a draft for this purpose.
- Payment methods like wire transfers are recommended, though other options exist, such as bank transactions or electronic transfers.
- Coordinate machinery pickup and finalize the deal.
3. Arrange Pickup or Shipping
Coordinate the pickup of the equipment.
- If shipping is required, the buyer can arrange it through the provided contacts.
- Release the machine and title only after full payment receipt.
4. Share Your Success Story
We love to celebrate successful transactions! Share your experience and photos of the handoff with the Machines & Bids team.
Frequently Asked Questions
Below you’ll find answers to some of the most frequently asked questions at Machines & Bids. We are constantly adding most asked question to this page so if you have a question and don’t see your answer, don’t hesitate to email us at mail@machinesandbids.com
Buyer FAQ
Buyers are required to pay a fee buyer’s fee to Machines & Bids in addition to the seller’s final price. The fee can vary for each item, make sure to click on “View Buyer Premium” in the item’s page.
Sign In or create your account and verify your email, add an address and phone number to your account. You can also opt to register when you’re ready to bid on a specific equipment, at which point credit card details will be required.
Once you’re registered, choose the equipment you’re interested in and hit ‘Place Bid’ on its page. Your bid should exceed the current highest bid.
Live Bidding
Live bidding is the period of time when bidders can monitor the auctions and place live bids on pieces scheduled to end that week. We encourage bidders to contact Norsemen Auction for viewing opportunities before they place a bid and gather all unknown information before bidding. Once live bidding opens, all bids are final and cannot be removed.
Quick Bid – You should turn this ON – By turning on the Quick Bid feature, you will not be directed to the confirmation page. Your bid will be accepted with one click of the bid button.
Max Bid – Bidders have the opportunity to place their max bid – the highest amount you are willing to bid on that piece. The seller and other bidders will never know the amount of this bid. AuctionTime.com will place bids, on your behalf, using the smallest bidding increment necessary to ensure that you remain the high bidder until your max bid is met. If another bidder has placed the same bid before you, or a higher max bid, we’ll let you know that you’ve been outbid and you will have the opportunity to place another bid.
Live Auction Board – On Wednesday mornings, NorsemenAuction.com will display the Live Auction Board. When logged onto the site, the Live Auction Board will keep track of your bids, let you know when you’ve been outbid, when you are the leading bidder, and when a piece has recently taken a bid.
You can bid from the Live Auction Board simply by clicking the bid bar under each listing, which will direct you to a confirmation page, or you can choose to turn on the Quick Bid feature.
Time Extension – When the piece has only one hour left, it will display that any bid that is placed in the last minute of the auction will extend the auction by up to 40 seconds (20 seconds for Quick Bids). For example, if a bid is placed at 10:59 a.m. and the auction is scheduled to end at 11 a.m., the auction could be extended up until 11:00:40 a.m. This will continue to extend the end time as long as bids are being placed on that piece.
Winning The Auction – After the auction has concluded, an email notification will be sent out to the winning bidder with the seller’s contact information. The seller will receive a similar email with the high bidder’s contact information. It will be up to these two parties to contact each other to decide on the details of the financial transaction and the transportation of the piece.
Auction Group – Auction listings with the same Manufacturer and Model can sometimes be grouped together. All listings in an auction group end at the same time. If any of the auctions in the group take a bid in the final minutes, all listings in the group will have their time extended. Listings in an auction group will be linked together on the Live Auction Board.
Bidding – Prior to bidding, the buyer has access to contact the seller with any questions they have about the machine, shipping, sales tax, and payment details to avoid any issues once the auction has ended. Once live bidding opens, all bids are final and cannot be removed.
Winning Bidder – The winning bidder is expected to contact the seller immediately following the sale to set up payment and a time to pick up the item.
Email and Text Messages – You have the option of setting up email and text notifications when you add different pieces on the site to your Watch List. You have the option to receive different notifications throughout the auction process on the pieces you have selected.
Email Alerts for New Listings – New listings are added to Machines & Bids every week, and you can receive alerts whenever a listing is added that matches your interests. Start by opening your account menu at the top of the page and selecting Email Alerts For New Listings. You can then add alerts for new listings based on any combination of equipment/vehicle category, manufacturer, and/or model. You can also manage existing alerts. Watch the video below to learn more.
All currencies on Machines & Bids auctions are specified on each item’s page. Make sure to check before bidding, it can depend on the machine’s location.
International bidders are welcome, but full payment for the equipment is required immediately after the auction. All responsibilities related to logistics, import duties, and transportation fall on the buyer. It’s crucial to have these aspects sorted out before you place a bid.
Inspected machinery will be marked with an ‘Inspected’ below the pictures on the listing. You can view the detailed inspection report by following the link provided on the listing page.
The inspection covers a comprehensive check of the equipment’s exterior, interior, and operational condition. For the complete inspection checklist, please refer to the report on the listing page.
Operational tests are conducted if the machinery is safe to operate and the seller consents. However, there may be cases where operational testing is not feasible due to various constraints.
Proxy bidding is not available. Should you be outbid, you’ll need to enter a new bid manually. Your bid amount becomes the new high bid immediately.
Post-auction, we provide contact details of both parties to each other to finalize the transaction.
We have partnerships with financial institutions to provide financing solutions. Contact us prior to bidding and one of our advisors will be happy to support you. It’s advisable to secure financing approval before participating in an auction. You may also arrange a pre-approval limit that you can use for multiple equipments.
The buyer is responsible for arranging and bearing the cost of transportation. We recommend discussing the collection timeline with the seller beforehand.
We strongly suggest using wire transfers. The equipment is expected to be paid to the seller within seven (7) business days of the auction’s conclusion. If you’re unable to complete the transaction within this period, please contact us to discuss an extension.
Seller FAQ
Auction
Sellers are required to pay a fee of 5% to Machines & Bids at the conclusion of the auction.
Retail listings
Retail listings have different rates, contact us for details.
We’re interested in a wide range of equipment, from classic tractors to modern equipment. While we can’t accept every submission, we’re keen to review your equipment to see if it fits our auction platform.
Currently, our auctions are limited to equipment located in Canada. We’re exploring the possibility of including USA listings in the future. Make sure to drop us a email if you’re interested in this expansion and subscribe to our newsletter to stay updated on our expansion plans.
Note that we do allow US buyers to bid on your items.
To list your equipment, click on the ‘Sell a Machine‘ button. You’ll need to provide basic information like make, model and year. If your equipment catches our interest, we’ll reach out for more detailed information to create an accurate auction listing.
Initially, we need basic information such as make, model, year, and some photos. If we decide to list your equipment, we’ll then ask for more comprehensive details specific to its category, features, and condition.
Quality photos are crucial for a successful auction. If we have a local representative in your area, we’ll arrange for them to take the photos. Otherwise, we will request a live video call with you to take the photos. We’ll provide detailed instructions to ensure the best possible results.
Absolutely! Videos showcasing the exterior, interior, and operational aspects can significantly boost interest and confidence among buyers. We recommend using landscape mode for filming and hosting the video on platforms like YouTube or Vimeo.
An inspection report can significantly increase the value of your equipment. It gives bidders confidence in its condition, often leading to higher bids. The cost of an inspection is usually offset by the increase in final bid amounts.
Inspections cover the equipment’s exterior, interior, and operational state. Each category has a comprehensive checklist of items to be inspected. You can use one of our trusted partners or a local inspector of your choice, the latter must be clearly referenced (inspector name and company) on the inspection report.
We recommend allowing inspectors to operate your equipment, provided it’s safe and legal to do so. However, there might be situations where operation is not possible due to various constraints.
Including the inspection report in your listing is optional. However, sellers are obligated to disclose any defects to ensure a fair and accurate listing and to avoid conflicts after sale.
Once you provide all necessary details about your equipment, our team will draft the auction description. We ensure it’s straightforward and factual, focusing on key details. Your approval is sought before the listing goes live.
You can chat with us directly using the chat at the bottom of the page once you submit your equipment. We aim to respond promptly, typically within one business day.
Our auctions typically last 7 days. However, if a bid is placed in the final minute, the auction extends to allow for further bidding, emulating a traditional auction environment.
Direct edits by sellers are not possible, but you can contact us for any changes.
Registered bidders with verified email addresses and valid credit cards can bid. Bidders, including international ones, are expected to complete payment promptly after the auction. They are also responsible for any logistics and import fees.
No, all sales must go through the auction process. Attempting to circumvent the auction for a private deal can result in penalties and a ban from our platform.
Following the auction, we furnish both parties with contact information, supply the seller with a bill of sale to fill out, and provide a draft of the necessary ownership transfer documents. The completion of the transaction, including payment and transfer of ownership, is then managed directly between the buyer and seller.
We also offer lien search and title transfer services. See optional services fees for details.
We recommend secure payment methods like wire transfers. Depending on the situation, other methods may be suitable. Always exercise due diligence, such as verifying checks with your bank, before finalizing the sale.
Familiarize yourself with the title transfer process and be prepared for post-sale arrangements. If there’s a loan on the equipment, have a plan to pay it off and transfer the title promptly after the sale. Understanding province-specific requirements is also crucial.
Yes, a Bill of Sale detailing the equipment, sale price, and transaction terms is necessary. We will provide a draft to be completed, that both parties should sign and keep a copy.
While rare, if a winning bidder defaults, they will face a ban. We’ll then work with the next highest bidders to finalize a sale. If unsuccessful, we may offer to relist your equipment.