MACHINIST EXCHANGE has carefully designed a proprietary online auction system with machinists in mind.
Used machine tool pricing is everchanging and therefore it can be difficult to determine the best price.
Demand for manufactured parts fluctuates based on economic factors and marketplace trends, which directly affects demand for used equipment to supplement existing floor equipment.
Supply of both new and used equipment also has a significant impact on marketplace pricing.
As a result, many sellers and buyers prefer to participate in an online auction to ensure they are in line with fair market pricing.
Competitive bidding dynamically establishes what the market is prepared to pay for a specific machine.
Our auctions are easy to create and allow you to customize the event according to your specific needs.
Auctions are highlighted throughout Machinist Exchange and marketed online. Auctions are our top priority.
Our online auction platform uses state-of-the-art security technology to keep pricing, participants, and bidding secure and fair.
Why MACHINIST EXCHANGE?
- Unlike other auction platforms, MACHINIST EXCHANGE is a platform that was created specifically for the machining industry.
- MACHINIST EXCHANGE’S targeted audience helps ensure your auction will be successful.
- MACHINIST EXCHANGE’S auction platform has been created to capture the unique specifications of the machining industry.
- Affordable set-up fees
Frequently Asked Questions
- Yes, you can set a starting price for your auction.
- It is an option you may choose when configuring the auction.
- Yes, a reserve price on an auction is a key feature.
- Setting a reserve price allows you to set a minimum price expectation.
- Bidder will be informed that there is a reserve price, though not the amount of the reserve price itself.
- A reserve price is a way to ensure you aren't forced to sell at a price below your minimum.
- Between 7 and 21 days.
- The seller makes the choice of the auction duration when configuring the auction.
- Once an auction starts, the duration cannot be changed and the auction must run until the end date set when it was configured.
- Your Auction will be highlighted on the Machinist Exchange platform as well on the Machinist Exchange website.
- Additionally, our team will include your auction in our ongoing Machinist Exchange marketing programs.
- There is a flat auction setup fee of $150 for each online auction. Machinist Exchange subscribers receive a discounted rate.
- There are no other fees unless your machine is sold.
Yes. $500 or 1% of the sales price, whichever is greater.
- If the reserve price is not met, the seller will be notified of the highest bid.
- The seller then has the option to sell the machine for this price or to decline that bid.
- Upon successful conclusion of the auction, the winning bidder is notified they won the auction.
- The winning bidder is also informed of their obligation to complete the transaction.
- The buyer may now choose to complete the transaction via Escrow payment or directly with the seller.
- Shill bidding is not allowed on our platform and is a violation of our Terms & Conditions.
- Shill bidders will be ejected from the Machinist Exchange platform when our systems detect this type of activity.
- Auctions require you to maintain exclusivity until their conclusion.
- An auction places a legal requirement on the seller and bidders to complete the transaction.