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An auction is a great place to purchase heavy equipment such as bucket trucks. With this type of sale, the price can vary in favor of the buyer or the seller which is why it remains a very appealing trading method for both parties. Unlike buying such machines through a conventional method where the transaction process is very basic, there are several ways to purchase bucket trucks at an auction. Buying Methods There are many different ways in which bucket trucks can be bought at an auction, some of which are listed below. Live Through this method, heavy equipment to be sold is brought to a central location for the event. Participants must be present on the date and time established in order to participate in the auction. Prior to the event, participants can conduct an inspection of each vehicle to determine its condition. Once the bidding starts, the equipment is presented individually to the potential purchasers. The auctioneer starts the process and participants then begin to place bids. When there is no more action, the highest bidder is allowed to purchase the equipment for that final price. This has been the traditional structure for many years. It is advantageous for buyers because the vehicle can be seen and inspected first hand; this allows for a sound decision to be made before placing a bid. Some veteran buyers also enjoy the competitive atmosphere offered by the live auction. The downside is that interested buyers who are not located close to the venue might be deterred from participating due to distance constraints. Real-Time Online The dawn of the internet has opened up a whole new world of possibilities. Using this technological approach, everything is done similarly to a traditional auction except that bids for equipment can be placed from the comfort of an office or home. A website is the means through which interested parties can participate. A specific date and time is set for the event and posted on the website so participants can be at a computer at that particular moment for the sales event. Participants can hear and see the facilitator through a monitor as well as see the item placed for sale. A bid may be given using the click of a button and the highest bidder is allowed to purchase the bucket truck. The biggest advantage to this method is its convenience. Participants can join this process regardless of location and without the difficulty of personally dealing with other bidders. The disadvantage is that it is difficult to determine the condition of a vehicle being sold simply by relying on an in-house review, so participants could still need to visit the actual auction site to inspect any possible purchases. Specific-Time Online This form is fairly similar to how a live online auction works; there is a website where participants can register, view the equipment being sold and bid. The key difference is that this process takes longer than usual, spanning from days to a week. The maximum amount to be spent can be entered ahead of time and the system will automatically bid it along with others who are wanting to purchase the same machine. The system automatically selects the highest bidder once the predetermined time ends. The advantages and disadvantages of this type of sale are similar to a live auction. The only difference is that buyers do not necessarily have to participate live via a computer at a particular time, since there is a wide window of opportunity to place a bid. There is also little pressure since the bidding is done internally by the system and there is no real-time result. Being knowledgeable about the many ways to purchase bucket trucks at an auction can give buyers a greater advantage in terms of convenience. It is also possible to find a great deal by participating at an event offering low-priced equipment for sale without distance constraints. Yes, there are indeed many ways to buy bucket trucks from an auction! Christopher M. Hunter is an expert in the auctioning of industrial equipment. To find out more about Bucket Trucks, go to the main website at: http://www.jjkane.com/home.
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