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Auctions of industrial machinery: how do they work?

Auctions of industrial machinery represent an excellent way to do big business.
Auctions of industrial machinery and equipment are advantageous especially for enterprises and stakeholders because they promote the renewal of the machinery fleets.

Why do industrial machinery end up on auction?

There are different reasons for that but in general machine tools, industrial machinery and equipment are put on auction to solve financial difficulties. Regarding insolvency proceedings like bankruptcy or arrangements, seized goods are sold on auction to recover and totally or partially pay the creditors.
In the field of insolvency proceedings, industrial machinery and equipment on auction are valued by an expert and they are often put on sale at a price which is remarkably below market value, making them affordable.

How do industrial machinery and equipment auctions function?

We can’t really talk about a unique form of auctions; anyways, we can distinguish between two types of auctions: auction with incanto and without incanto. The first one is a competition when bids are placed upwards: the vehicle will be awarded to the best bidder by raises made by voice. The functioning of the auction without incanto is a bit different, because firstly it requires the presentation of a cautionary offer in an envelope and then, if there are multiple bids, bidders have to relaunch.
Keep in mind that the bankruptcy norm, Art. 107 in particular, sets that goods sales have to be performed through competitive procedures, also by taking advantage from specialized subjects.
Due to the norm and the intensive use of web technologies, there are lots of commercial and industrial vehicles that are sold through online auctions, also through eBay kinds of auctions or through telematic auctions.
Generally speaking, the sale without incanto is much more widespread than the one with incanto.
Thanks to the bankruptcy legislation and the new code of company crisis and insolvency, the auction sales of industrial machinery and equipment are carried out by means of competitive procedures, making use, ever more frequently, of specialized subjects.
Therefore, thanks to the regulations and the ever-increasing diffusion of web technologies, there are very many machines that are sold through online auctions, also the eBay model, or through telematic sales.
In general, however, the sale without auction is much more widespread than the one with auction.

What types of industrial machinery can I find on

On you can win industrial machinery for working iron and metals, wood, plastic and paper, marble and ceramics, machinery for the textile sector, for the chemical and pharmaceutical industry, printing and much more, coming from judicial auctions and auctions bankruptcy. You can count on advantageous prices and complete assistance that will allow you to conclude excellent deals in total safety. To participate, simply create a free account and access the various auctions by consulting the lots that interest you and following the instructions.

Things to know

A bail is always required and it will be refunded in case you don’t award the lot but it will get lost if you don’t pay the amount totally.
In case of auction with incanto the amount is set by the judge and it can’t be more than 10% of the auction base price.
In case of auction without incanto, you must pay a deposit of 10% of the bid you have presented through a closed envelope.
In case of competitive online auctions, like those performed in our platform

What if you win the auction?

After winning the auction, the tenderer must pay the amount needed within the deadline established and indicated in the notice of sale.
Only after the balance of the price will it be possible to proceed with the withdrawal of the awarded goods.
Auctions Business to facilitate operations, shares a collection calendar with the successful bidders and provides the disassembly and delivery service for those interested.

Issues that you have to keep in mind if you want to participate in an auction

The first thing you have to pay attention to is that there aren’t any warranties of any kind when participating in auctions of commercial and industrial vehicles and the purchase is performed through the formulation “seen and liked in the state of fact and law where it is placed”.
It is always allowed to see the vehicle before the auction but a test-drive is not allowed.

Right now

If you have decided to participate in an auction of industrial machinery and equipment, remember that timeliness and ability to collect information are necessary to achieve a good end result.
As a consequence, relying on experts from the auction/telematic auction field is often the best solution, so that you could make a great deal without unpleasant inconveniences.
All the sale auctions of vehicles published on the portal, a website authorized by the Minister of Justice are always accompanied by description, detailed photos and videos, so that you can easily evaluate your purchase on auction.

Don’t wait for the declines too long. The more the price is attractive, the more likely it is to see fierce participants willing to relaunch at the very last moment.
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