Industrial Auction Hub Announces Upcoming Auctions

January 23, 2019 - PRESSADVANTAGE -

Industrial Auction Hub has announced the upcoming auctions for the months of February and March 2019. Aside from metalworking machinery auctions, other industrial equipment are available for auction including drilling and mining equipment, electrical and electronics equipment, farm equipment and machinery, food processing machinery, heating and cooling equipment, heavy equipment, industrial equipment and machinery, laboratory and scientific equipment, material handling equipment, packaging and labeling equipment, printing machinery, textile machinery, trucks and trailers, and woodworking machinery.

Peter Patel, spokesperson for Industrial Auction Hub, says, “We are focused on providing a one-stop location for those who are looking to buy industrial equipment, such as metalworking and fabrication equipment, through auctions. Our website allows people to browse these equipment by category, state, or country.”

In material handling equipment auctions, examples of equipment and machinery that are available are sections of Interlake new and traditional style teardrop pallet racking; yellow jacket protective boot; sections of teardrop shelving; Hyster and Yale LPG forklifts; Caterpillar forklift; Caterpillar narrow aisle reach truck; battery chargers; Ingersoll-Rand air compressor; Gorbel vacuum jib hoists; Spanco mobile gantry crane with shaw box hoist; conveyors; office furniture; and break room furniture.

Meanwhile, examples of metalworking equipment and machinery that may be available through auctions through Industrial Auction Hub include the Niagara straight side press; Minster Tranemo 250 ton hydraulic straight side press; Atlantic 135 ton press brake; Standard shear; Cincinnati shear; Ateks Bantam and Foremost Bantam 24 ton press brakes; Edwards 100 ton ironworker; Bradbury roll form line 14 stand; Secrest cut to length line 18” cap, complete with mandrel, straightener, roller table, shear, conveyor; Taylor 30,000 lb cap diesel forklift; Hyd-Mech bandsaw; Torchmate plasma cutter; steel table; roll form tooling; welders; tool room; fixtures and dies; and gon dumpers.

The Industrial Auction Hub website also features industrial equipment and machinery that are for sale not through auctions. For instance, these may be van trucks or cranes.

And because the Industrial Auction Hub website is for helping buyers of industrial equipment and machinery, it also has a blog page where articles that can help them have been posted. For instance, there is the article about the essential things people should know about live auctions. Live auctions are held via the internet and most likely, the items are being sold as they are. If such is the case, buyers will need to learn everything about the items that they want to bid on before they commit. Also, live auctions are synchronized with in-person live auctions, which means that all of the sellers and personnel will be very busy as the auction date approaches so prospective bidders may want to contact much ahead of the auction date.

It is also important to know the terms often used in live actions. First of all, there is the auctioneer, who will call out lots and request for bids. They function like referees and choose whose bids to accept. The buyer’s premium or BP is a commission or percentage that auctioneers or auction houses usually add to the total amount of the winning bid. This may range from 12 to 20 percent. On live auctions, the BP will be registered for each lot. Some auction houses and auctioneers may not charge BP but others may have varying premiums, depending on the item that is being auctioned. And when an item is place on reserve, it means that the seller has specified a certain amount of money that must be reached before he or she will consider selling the item. Thus, even if there is a highest bidder, the sale of the item will not be completed until the target amount is reached.

It should be noted that during a live auction, it is hard to really determine the condition of an item simply by looking at its photos. Prospective bidders have the right to request the auctioneer to post additional photographs of the item or inquire about the condition of the item.

Industrial Auction Hub is designed to assist buyers of industrial equipment and machinery find industrial auctions and connect with auctioneers. It serves as an online portal for industrial equipment and machinery auctions and auctioneers.

Those interested industrial auctions, such as heavy equipment auctions, can visit the company website or call them by phone.

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For more information about Industrial Auction Hub, contact the company here:

Industrial Auction Hub
Peter Patel
404 481 3804
info@industrialauctionhub.com
752 Winer Industrial Way
Ste G1
Lawrenceville
GA 30046