Machinery Auctions

Home Auctions Machinery Auctions

A large variety of situations prompt people to think about holding or attending a machinery auction. Some of these may include the need to:

  • Liquidate the company including related machinery, equipment, and implements.
  • Liquidate unneeded machinery.
  • Acquire equipment for personal ventures.

If you find yourself in any of these situations take advantage of our decades of auction experience, extensive industry knowledge, and exceptional customer service. When you seek out a Herron machinery auction for your buying and selling needs, we walk you through the process step-by-step to assure you make informed decisions and maximize the success of your sale or purchase.

There are two types of auction sales you may choose from:

Absolute Auction:

In this auction the property is sold to the highest bidder, regardless of what the final bidding price ends up being. The bidder’s excitement and participation are at their very highest in this scenerio because a sale is guaranteed.

Reserve Auction:

In this situation the highest ending bid is effectively treated as an offer, not a final sale. The seller then reserves the right to accept or reject the highest bid. This method puts more control into the hands of the seller but typically generates less of a bidding response.

Standard for these auction processes is the presence of an auctioneer who will moderate the negotiation of price between the buyers and the sellers. The auctioneer will determine when all bids are complete, at which point the agreement becomes a contract and the sale is final.