Equip-Bid strongly discourages the placement of reserves on auction lots, as they often deter potential bidders and lead to lower final prices.
The platform aims to maximize sale prices, and reserves have proven counterproductive to this goal.
While acknowledging that some sellers may insist on reserves, Equip-Bid emphasizes that this should be an exception rather than a standard practice. Items anticipated to sell for under $2,000 are particularly discouraged from having reserves. Additionally, all reserves must be reasonable, typically set at 50% of the item's value, ensuring a high likelihood of meeting the reserve through independent bids. If a seller's reserve expectations are deemed unreasonable, affiliates are encouraged to decline including the item in the auction.
The minimum reserve for lots listed on Equip-Bid.com is set at $100. Equip-Bid also reserves the right to waive fees for lots that fail to sell due to reserves not being met.
For further inquiries, affiliates are directed to the FAQ section. If answers are still unavailable, they are encouraged to contact Equip-Bid for assistance.