Forward Auction

This is the most common type of auction, predominately understood from the eBay model; the bidder with the highest bid wins the lot at a predefined end time. In this model bidders are aware of the current competing highest bid. Online forward auctions are an ideal way to get the best price for capital equipment, materials and services you want to sell, such as when you need to liquidate excess inventory.

How do online forward auctions work? You initiate the auction by letting buyers know what products or services you have available. Buyers compete against each other in real time. Our web-based, real-time auctions, driving up demand and price as your customers bid against each other. Buy Rite Technologies comprehensive, web-based auction solutions facilitate online negotiations without time-consuming or expensive technology integration. Unlike E-bay you can hold a private auction and register a select group of potential buyers.

Seller Benefits:

1. Risk Management: While buyers can see what their competitors are offering, company names can be left confidential.

2. Maximize profits and reduce inventory: Buyers bid against each other for your equipment, materials and services, driving up demand and price.

3. Global Reach: Forward auctions can help you expand the pool of buyers, allowing you to reach new markets and expand your sales opportunities.

4. Speed to market: With our full service auction service there’s no special hardware or software to install, we will run the entire event for your organization.