How It Works

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FEES & PREMIUMS

  1. Listing equipment is FREE.

    To list an item on MyMachineryAuction (MMA) you must logon to MMA or first register for a free MMA account, if you do not already have one.
     
  2. PAYMENT PROCESSING when equipment is SOLD.

    SELLER.
    Pays a SELLER's FEE of 10% or 15% - 10% if the SELLER lists the item by himself; 15% if we assist the SELLER when the item is listed. The Fee is paid only when the item is sold and proceeds are received by MMA. The SELLER receives 90% or 85% (depending upon the SELLER Fee percentage) of the BUYER's Winning Bid amount.

    Example: $ 1,000 Payment is received by MMA from the Winning Bidder for the item. In case the Seller’s fee is 10% the SELLER receives …$ 900 from the $ 1,000 proceeds and MMA retains the remaining $ 100.

    HIGHEST BIDDER (BUYER).
    The Item’s Highest Bidder pays a BUYER’s PREMIUM of 12.5% or 15% of the winning bid- depending on the value level of an item. The Invoice for the item includes the item’s Winning Bid amount plus a 12.5% or 15% Buyer’s Premium.

    Example: The Winning Bid is …$ 1,000. The Invoice for the item includes the Winning Bid amount of …$ 1,000 plus a 15% Buyer's Premium of …$ 150 totaling a …$ 1,150 Invoice amount to complete the Winning Bidder's purchase of the item.

TERMS & CONDITIONS - MyMachineryAuction Sale.

YOU LIST IT


Use My Machinery Auction’s step-by-step self-list service to create a listing for the equipment you want to sell. After logging in, click “Add New Listing” to get started.

Step 1:Create a Description for Your Equipment

  • Enter Brand, Model, and Equipment Description. Access our database of over (10,000) different equipment descriptions to help you list! For more than (20) years, EX-FACTORY INC has accumulated data and descriptions of these machines.

Step 2:Pricing, Rigging and Loading information

  • You can enter a Reserve Amount or use “No Reserve” (recommended). MMA Tip: Reserves should be set at 15 - 30% of what you think the item might sell for. High reserves discourage bidders from bidding and might result in unsold items and low final bids.

    We very often recommend “No Reserve” for Auction listings, because bidders think that they are going to get a “DEAL” and more bidders get involved early on; they compete with each other, and the price goes up.
  • Rigging/Loading/Equipment Pickup – Tell us if you can load the equipment or if it is going to be the Buyer’s responsibility, and when the equipment can be picked up. - Just in case, EX-FACTORY has a Freight/Logistics Department, and if required, we can provide transportation service for the Buyer.

Step 3:Upload Photos of Your Cleaned Up Equipment.

  • At least (1) photo of the equipment is required, but in most cases "not enough"! You can upload as many as you like, and (4 or 5) should be fine for a shop-size standard machine.
    MMA Tip: Photos sell! When you are listing, a tip's link will show you good and bad photo examples, in addition to tips for taking the best photos (lighting, staging, sequencing, etc.).

Step 4:Rearrange Your Photos

  • This step allows you to arrange your photos in the order you prefer; especially useful when you have something like (10) or more photos.

Step 5:Submit Your Listing

  1. Review the information you provided and edit as necessary.
  2. Review and accept the MMA Seller Agreement (click here to preview) for your equipment and submit the listing to EX-FACTORYAuctions - MMA. (The listing is usually approved the same day.)

WE REVIEW YOUR LISTING

The review includes your description and key specifics like …did you choose the correct machine type, do you have the YMFG (year of manufacture, if available), Serial Number, and Electric/Voltage. Showing your item in the best light will bring the highest price at the end of the Auction. We may request new pictures or pictures with more detail. Tap into our knowledge of what Buyers want to see, use it to your advantage, and use it to fetch a higher selling price.

GO LIVE

Once your listing is approved it will immediately be live in the "My Machinery Auction" section on the EX-FACTORYAuctions website; it will be promoted and offered for a minimum of (2) weeks.
Your Auction will always end on the third Monday from when your asset goes live on our Online Auction site.

Example -Listing Approved on:Friday 02/10/17
Live on Website:Monday 02/13/17 – Closing on Tuesday 09/28/17

WE MARKET YOUR EQUIPMENT TO INDUSTRY SPECIFIC BUYERS

EX-FACTORY INC.'s market reach extends to over (150,000) industry professionals using Machinery & Equipment in their daily business throughout the USA, Canada, Mexico and many other countries. Our experience (in business since 1989) and marketing reach are unsurpassed in the ability to find the Buyers for your equipment! We heavily promote the EX-FACTORYAuctions website through Internet Media advertising and a few times a week through eBlast promotions to the approx. (75,000) active eMail contacts.

Allow our know-how to work for you; …our dedicated staff is experienced with "Live On-Site and Online Auctions" and is available to you for any assistance you may need while using our services.

Important: If you have quite a few pieces of equipment or an entire shop or plant you would like to sell via Auction, please contact us, and we can assist and create your "own Exclusive Auction Event' for you. One of our Auction Managers will be glad to speak with you and to arrange a visit at your place; please call Amanda Solomon, ...877.580.5844 ext. 374.

WATCH YOUR LIVE AUCTION IN ACTION

  • Potential Buyers contact you directly through our "Bidder to You" Messaging System with questions while your equipment is in Auction.
  • Receive instant eMail updates when new bids are placed for your items. Note: In case you don't know, "My Machinery Auction" is available to bidders on their iPhone or Android System phone; …any place, anytime, "on the go"!
  • Receive immediate notification as soon as the Auction ends with the final results and the winning bidder(s).
  • When logged in, your "My Listings" page (Home Page) will always show real-time data for the current highest bid and total number of bids for each item (lot) you have in the Auction. MMA Tip: Keep in mind, most of the action happens towards the end of the Auction in the last (2) hours. Don’t be discouraged if bidding activity isn’t heavy at first.

YOUR LIVE AUCTION CLOSES

Final Bids are placed and the Auction closes; with closing scheduled to start at 3 pm Eastern Time. Depending on the number of lots, the closing happens in time slots by groups. It might last 1/2-hour or less, and with a high number of lots, (2) hours, or more.

BILLING AND COLLECTING PAYMENT FROM WINNING BIDDERS

We handle the paperwork, collect the money, and pay you. You receive a Purchase Order and the winning bidder will be sent his Invoice providing him also with your complete address.

Funds are typically collected within (2 - 3) days. As soon as we receive payment from the winning bidder, and it is either confirmed by our bank or was certified, we will notify you that the Invoice has been paid, and you may release the asset to the winning bidder.

PAYMENT FOR YOUR LISTING

We send payment for your listing within (6) Business Days after receiving certified funds from the Buyer. We accept regular checks, (requires a 5 – day waiting confirmation period), Certified Checks, Wire Transfers and also accept Credit Card payments up to $10,000.