Online auction platforms offer individuals an opportunity to sell farm machinery, even in the midst of a global health pandemic. Mark Stock, co-founder of BigIron Auctions, speaks to online auctions, which operate similarly to open outcry sales.
?We always publish the owner?s name and phone number, so they (potential buyers) can give them a call,” Stock said. “We put just as much information out there, so they can be confident with their bidding, (so) they can trust the process.”
Stock recommends choosing an online auction company with a large registration buyer base and proven marketing for best results.
?You want to be able to expose that equipment to a lot of people,? Stock said. ?We believe it’s important that you get the equipment prepped and ready to be photographed and videotaped, so the buyer has a good image of what it is he or she is buying. The descriptions need to be accurate and if you have any repair work that?s been done, that documentation should be downloaded for all buyers to see.?
Buyers, on the other hand, should thoroughly assess equipment and avoid last second bids.
Lastly, Stock reveals the secret to a good auction: Planning.
“…careful preparation months in advance,” Stock said. “From shooting the videos when the machine is working in the field to getting all of the items that need to be fixed repaired.”
