Understanding Equipment & Consignment Auctions

What is an

Auction?

An auction is a place where people sell and buy things by bidding; that means offering money and trying to beat other bidders. This can happen in person or online, and anyone interested can join as long as they register. The highest bidder wins the item.

What is Consignment?

Consignment means someone who owns equipment gives it to an auction company to sell it for them. The auction company handles the sale and helps find buyers. The seller gets paid after the item sells, usually minus a small fee.

This is great for sellers because the auction house helps with marketing and handling all the steps, so the seller doesn’t have to do everything alone.

How Auctions Work 

Step by Step

1. Get Ready

Before you bid, read about the items and look at any photos or details you can find. This helps you understand what you might want to buy. Some auctions also let you inspect items in person before bidding starts.

2. Place a Bid

On the day of the auction, buyers compete by offering more money than others. The bidding continues until no one is willing to bid higher. The person with the highest bid wins! 

3. Finish Up

If you win, you’ll pay what you bid plus any extra required fees. Then you arrange to pick up or ship your item. Make sure you read all the rules before bidding, because everything is usually sold “as-is,” that means there are no promises about condition or repairs. 

Why Auctions Are Good for You

For Sellers

• Auctions can help sell your equipment fast, without waiting months. 
• The competitive bidding process often leads to higher prices because many buyers are interested.

For Buyers

• You get access to a wide variety of items in one place. 
• Auctions can offer great deals; you might find something you need at a price lower than normal retail. 

Bidding can be exciting because it gives you the chance to compete and win something valuable. 

Helpful Tips for Auction Success

• Do your homework: Learn about the items before you bid. The more you know, the better choices you’ll make.
• Read all the rules: Terms and conditions tell you about fees, deadlines, and how payments and pickups work.
• Know your budget: Decide how much you’re willing to spend before the bidding begins.

Common Auction Words to Know

• Bid: Your offer of money for an item.
• Reserve Price: The lowest price the seller will accept (sometimes set before the sale).
• As-Is: You buy the item in its current condition — no returns.

Ready to Bid or Sell?

Whether you want to sell equipment quickly or find a great deal, auctions are a smart way to do it. Consignment auctions mean experts help you every step of the way, from listing items to finding the right buyers.

At Sexton Auctioneers, we make auctions smooth, fair, and exciting for both buyers and sellers. If you’re curious about getting started, reach out; we’re here to help!