Centurion Blog

Live Medical Auctions: 6 Things You Should Know

Written by Christine Frisch on December 19, 2017

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Live auctions are such a unique event. With several moving parts that make up the auction process, and many individuals involved, the entire concept is intriguing to say the least. Check out these six note-worthy facts about live medical equipment auctions!

1) Reputable auction houses provide resources for their buyers and sellers. 

Valuable resources include, but are not limited to, an educated staff to provide the answers to questions through several communication outlets. These avenues may include an easy-to-access customer support number, downloadable brochures, instant chat feature website feature, options to receive emailed auction updates, and a company blog to provide helpful tips, advice, and answers to questions. 

2) There can be hidden perks to attending a live on-site auction.

At Centurion Service Group, there is a $500 refundable deposit fee to attend the auction ON-SITE which is required during the registration process. (The online webcast deposit fee is $2,000.) Also, on-site bidders are provided with a complimentary lunch from Centurion Service Group. Who doesn’t like a free lunch?

3) “Proxy bid” is a convenience option to keep in mind. 

Allowing bidders to place a bid without being present at the auction on-site or online. A bidder submits the maximum price (bid limit) that he/she would be willing to pay for an item and allows the auction house to bid on his/her behalf, up to the amount of the bid limit. When bidding in Centurion’s live auctions, a bidder can submit a maximum bid amount in writing via fax to 708-343-7100. Centurion will act as your representative at the auction and buy the lots/items as cheaply as competition permits. Proxy bid forms can be found here.

4) Equipment removal deadlines are non-negotiable. 

Purchases must be removed within a given time frame. If purchases are not removed within the required time limit, the merchandise will be deemed abandoned. Equipment removal deadlines are no joke.

5) “Simulcast” means bidding in real-time via “online,” “webcast,” or the “internet.”

Any one of these terms could potentially be used when speaking to an auction representative in regards to live auctions. A simulcast auction takes place in the present, meaning that all bidding is happening in real-time.

6) There is a team of dedicated individuals behind every live auction.

Participating bidders can only see are the auctioneers – who are the experts on the medical equipment for sale, and aim to deliver a successful auction day for everyone involved. In addition to the auctioneers, however, there's a team of behind-the-scenes individuals who work hard throughout all stages of the auction process, including preparation prior to the event and all post-auction duties. These individuals have a cumulative skill set in auction management, technology, marketing, sales, finance, and much more. 

If you are a potential buyer or seller and would like to receive more information about Centurion's live medical equipment auctions, please fill out the form on this page.

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