FAQs
Using the Site
You can search our website in a number of different ways. Click "Inventory" in the main menu to access the search page. Here, you'll see all the categories of equipment in which we have items available on the left side of the page. On the right, you can search by a specific make (manufacturer) or model, or by keyword. You can further filter your search results by region or category. From your search results, you can select an item and find more information about how it's being offered (online auction, webcast auction, private treaty sale, etc.) and how to bid on it. If you're not getting any returns on your searches, trying broadening your search or eliminating some keywords. Or browse by category for more results.
You can sign up to receive email marketing about specific categories of equipment in which you're interested. Sign up to receive notifications.
In order to protect the interests of the seller and of other bidders, we need to ensure that people who place bids in an auction understand that their bid is a legal and binding contract. A bidder who does not intend to follow through with their purchase negatively impacts the entire auction process, which is dependent on honesty and integrity. We reserve the right to charge a winning bidder's credit card in the event that they fail to pay for their purchases. However, we will never bill your credit card if you make your payment in another form, such as check or wire transfer, within two business days of the end of the sale.
For sales in the United States, you may charge purchases of up to $2,000 to your credit card if you wish, but we will only do so with your authorization, or your failure to pay within a reasonable amount of time after the sale.
We take the security of our users' information very seriously and all your data is encrypted and stored securely with an accredited, third party international credit card verification company.
Each auction may have unique terms and conditions of sale. When you register for the event, you will be prompted to agree to those terms.
You will also then be assigned a unique identification number, called a paddle number, for that sale.
Certain sales have other requirements that must be satisfied before you will be allowed to bid.
Most sales in the U.S. require that bidders in other countries first submit a wire transfer deposit before they will be approved to bid. This deposit must be received in advance of the sale and can take several days to process, so we always recommend registering well in advance of the sale.
Other sales, usually those with items of exceptionally high value, require a deposit from all bidders which also must be wire transferred before the sale.
Some sales require bidders to provide certain documentation before bidding. Each sale may have a unique set of circumstances restricting participation.
Please don't wait until the day of a sale to register for it, as you may find that you're too late to satisfy all of the requirements to bid. Register early and be sure to read the terms of sale for each event, as well as the Standard Terms & Conditions of Sale.
Bidding
A webcast auction is a live event that is broadcast via the web. Bidders can participate by bidding in-person at the auction location, or register to bid online on the designated online platform. On the day of the auction, simply click the "Bid Now" link to join the live sale. The "Bid" button will show the current bid and the next increment for which the auctioneer is asking. Simply click the button to bid that amount.
You will also be able to hear the auctioneer calling bids. But please be aware that audio streaming can be slower than the actual live event. Always go by what you see on the screen, not necessarily what you har, in case the audio is lagging.
An online auction is a timed event, similar to eBay and other online auction sites, which allows participants to place bids over a predetermined period of time. By creating an account with a credit card and registering for the event, you have access to participate in the online auction. Online auctions have a designated first lot closing time. Subsequent lots will beging to close after that time. Simply click the button to bid the desired amount.
Hilco auctioneers can bid on your behalf if you are unable to participate in a live event. Please contact us with the specific details of your desired bid and we will follow up with you.
Private treaty sales are negotiated offline between interested parties and the Project Manager for that sale. Interested parties can usually submit a form on the sale details page letting the Project Manager about their specific interest. The Project Manager will then contact bidders to negotiate a sale. Contact information for private treaty sales is provided on the sale page.
Payment and Removal
General payment information can be found here. Payment methods can vary from sale to sale, and buyers should always refer to their invoice for payment instructions.
The buyer's premium is a percentage of the selling price that is added to cover administrative expenses. It is a common practice among auctioneers used to offset the costs of running an auction onsite or online.
Sales tax rules and exempion information will be provided in the Terms and Conditions for each sale. Hilco Industrial adheres to all local sales tax rules for the locale from which the items are sold. Invoices will not be considered paid in full, or items released, until the total amount, including sales tax and buyer's premium, has been received. Each state/city/county/district/country may charge different rates and have different requirements for exemption. Forms are provided whenever available in the terms of sale.
Buyers are responsible for removing their purchases from the site by the removal deadline. General removal information can be found here. But each sale may have different requirements for removal. In most cases, buyers can contract with the rigger of their choice, but they must conform to Hilco's rigger requirements. In some cases, a specific rigger must be used for certain sites. We will provide the names and contact information of riggers available. However, Hilco is not affiliated with and does not endorse or guarantee the services of any rigger or service provider. Hilco cannot be held responsible for any issues with a rigger.
Selling Your Surplus Assets
Hilco Industrial is the world's preeminent authority in assisting companies looking to monetize assets. We have helped companies all over the world in nearly every manufacturing sector. Learn more about the services we provide to manufacturers, lenders and other potential sellers and contact us to learn how we can help you.
