AAA Drafting Blog

A SolidWorks designer talks about stuff related to CAD and mechanical design

Sunday, April 29, 2012

Yuuuuup - Auction Websites in Ontario !

Perhaps its because of the hit TV series "Storage Wars" going to auctions of all types has become very popular. Both for personal and for business purchases. Visiting auctions can be a great way for a new business to get started. If you are looking for office furniture and factory equipment there are always great bargains to be had.

Be extremely careful when computers, flat screen TV's and other technology items. You must know the value of these items before bidding. People go crazy about these items and auctioneers know it. In the heat of the moment people often pay more for a used computer that is several years old then they would brand new in a retail store.

Bear in mind you are buying items as-is where-is and there is always the possibility that the item you are buying wont work or be damaged in some way. Take advantage of the inspection days that most auctioneers provide and factor the risks into the maximum price you are willing to pay for an item. Record this information and have it handy when the auction starts and you go to bid.

Auctioneers often will refuse to sell an item if it does not draw a high enough price, they will withdraw the item and list it in a future auction where they hope it will gain more more attention. In general it pays to find an item you are interested at an auction where the majority of bidders are not looking for that kind of item. You want to be the only person bidding on it.

Auctions most often charge a fee over and above what you pay for the item. This is called a “buyers premium” and usually goes to cover the cost of the auctioneers services. You have to factor in this cost. As well, You also have to pay all applicable sales taxes.

The internet has revolutionized the auction business. Many auction houses use the services of which allow users to view the auction live and bid online without actually being at the auction. This increases the bid frenzy dramatically and drives up profits for the auctioneers. But its great if you want to log on as a guest and get a feel for a live auction and see how the auctioneers work the audience.

Registering with Bidspotter is simple and is no different than registering for an auction in person. The main difference is that you can bid in auctions across the continent. Just bear in mind that if you win a bid you will have to pay to arrange shipping and delivery to your location if you are unable to pick the item up your self.

List of auction websites May 2012

Fair warning !, Auctioneers websites are sometimes not exactly what you would call user friendly. Some like to hide their latest auctions and make it a challenge for you to figure out where they are. You can always throw your hands up in frustration and find the local auction listings in the Toronto Star any Sunday. With dilligence, you can plan out your next auction excursion

Abco Food Equipment

This company sells primarily restaurant items and with the frequency that restaurants go bankrupt, its got to be a great business. A great place to find ultra expensive espresso machine you have always wanted. Many auction houses also double as sales outlets for brand new equipment.

Asset Services, Auction and Appraisals

Mostly industrial sales of machinery. If you are intimately familiar with the equipment, you can find great bargains if you are willing to tolerate the risks.

Auction Advertiser

A directory of mainly estate auctions taking place throughout Ontario. Click on any day in the calendar to find auctions taking place.

Corporate Assets

Upcoming auctions are listed in the Toronto Star on Sunday if you get frustrated with their website.

Danbury Sales

Up until recently had a retail store location on Lakeshore road in Oakville where you could buy items from their auction sales. Now they seem to have returned to their core business of industrial and commercial auctions.

Hilco Asset Sales Canada

URL redirects to Hilco Industrial auction site in the USA which does list auctions in Canada.

Infinity Assets Solutions

Mostly company equipment auctions. You can use to join in the bidding without being there.

 National Surplus

Hamilton based business selling industrial items from auctions and bankrupcies

Northern Auction Service Inc.

Hold regular sales at the sherwood auction sales in Milton, a nice room used by several auction houses where you sit in old church pews while you bid on items. Even if you dont buy anything, the bacon on a bun they serve in the back is worth the trip.

Principal Liquidators Inc

Wildly popular auctions every Tuesday in Mississauga go on until Midnight. Principal Liquidations are also well known for their hardwood flooring material auctions.

Studio 1 Auctions

Sparse website but do show pictures of upcoming auctions.

If you have any comments or suggestions for great auctions in Oakville, Burlington and the surrounding area, feel free to post them !