Why should I have an auction?
There are many reasons to have an auction, which can accomplish several goals, but the most important is time. Auctions are designed to get the highest recovery value for equipment or other distressed assets as quickly as possible.
How many types of auctions are available?
There are three different kinds of auctions available, including:
• Live & Webcast (simultaneous live and online) auctions are the most exciting because they allow interested buyers to physically preview the assets from the site where they are located in an environment that is electrically charged by a professional auctioneer. The webcast brings the dynamic auction floor to remote bidders and allows potential buyers to bid from anywhere, either online or in person.
• Webcast Only auctions are conducted online, allowing remote clients to bid on items from anywhere in the world.
• Timed online-only auctions are easy to use and allow for global bidding. They also allow for flexibility in scheduling and timing, there is no travel necessary, no large crowds, more convenient inspections, user-friendly, and you can bid at ease from your home or office.
• You can also consider orderly liquidation, private negotiated sales, and sealed-bid auctions.
How do I register for an auction?
How do I register for an auction?
PPL Group conducts two types of auctions: Webcast (simultaneous live and online) and online-only auctions. During a webcast auction, a registration table is setup at the auction site and all registration forms are available. If you are unable to attend the live auction and would still like to participate, please see online-only auctions registration.
For online-only auctions, login to www.bidspotter.com and click “click here to skip introduction page.” Search for the auction you wish to participate in (Control + F). Click the “sign up for auction” link to the right of the BidSpotter.com auction.
Enter your username and password to sign in. If you have never used Bidspotter before, you need to first click the link that says "Register." Enter the required contact information and select a username and password. Click “submit form.” ‘
You will receive an email confirmation of your registration for the auction. In addition to this email, you will receive an approval email for each individual auction you register to bid which includes your bidder number. On the date of the auction, log in to BidSpotter when the auction is about to begin. You will be able to view a picture of each lot while listening to live audio (if available).
Bidders are recommended to register 48 hours prior to the sale to avoid any issues that may occur.
What is the difference between online and live auctions?
An online auction is solely based on the web, which allows for global bidding. You can bid at ease from your home or office, on your own time. A live auction typically is set at the site where the distressed assets are being sold and are led by a professional auctioneer.
Do you offer liquidation services?
Assets are offered for sale via private negotiation at predetermined prices. Offers of less than predetermined prices are subject to owner’s acceptance. This service is based upon the type of assets or equipment being sold. In some cases, the items for sale are not conducive to an auction. Consequently, prospective buyers may negotiate an offer resulting in the items being sold by the piece.
Do you buy real estate from a distressed company?
If the property is for sale as part of a liquidation event, PPL Group can help - subject to owner confirmation.