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Home/ Guides/ How Online Machinery Auctions Work: Reserves, Bidding and Offers
Buying guide

How Online Machinery Auctions Work: Reserves, Bidding and Offers

Online auctions follow the same basic rules as a sale in the paddock, with a few differences. Here are the terms you will see and what they mean for you.

Registering to bid

You need an account and a one-time identity check before you can bid or buy. It keeps anonymous bidders and time-wasters out, which protects both buyers and sellers. Registering for an auction is free.

Reserve price

The reserve is the lowest price the seller has agreed to accept. It is not shown while the auction is running. If bidding reaches the reserve, the lot sells to the highest bidder.

Passed in

A lot is passed in when bidding does not reach the reserve. On AuctionsNOW a passed-in lot does not disappear. It stays listed with its highest bid shown, and you can make an offer, which the seller can accept, decline or counter. Plenty of good buys happen in the days after a sale.

Unreserved

An unreserved lot has no reserve. It sells to the highest bidder on the day, whatever the final bid.

Buyer's premium

A buyer's premium is a percentage added to the winning price. On AuctionsNOW it is a flat 5% plus GST, and it is the only fee buyers pay. Sellers list for free.

GST

If the seller is registered for GST, 10% GST is added to the price, and the listing says so. The buyer's premium always attracts GST.

Live auctions

In a live auction, lots are called in order with real-time audio and video, and you bid from any device. The lot is sold when bidding stops. Have your limit worked out before your lot comes up.

Bidding tips

  • Set your maximum before the sale, including premium, GST and freight, and stick to it.
  • A winning bid is a binding commitment. Only bid if you can pay by the due date.
  • Ask questions and inspect before the auction, not after.
  • Watch the highest bid and offer history on the lot page to gauge interest.

After you win

You receive a tax invoice by email. Pay by the due date, then arrange collection with the seller. You are responsible for loading and transport unless the listing says otherwise.

More questions? See the FAQ or how it works, then browse current auctions.

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