Frequent General Questions
Is this an Auction Site?
Not directly, although the offerings are more like a sealed bid auction site.
How do I make an offer?
Offers/Bids are not to test the water, there commitments.
Send me an email with your full contact info including cell number and your firm offer.
How many people are bidding on this deal?
Every deal is different, there could be one or ten offers, typically we shoot for three reasonable numbers & then pull the trigger.
Can I buy the salvage outright without bidding?
Often – Yes! Make me a firm fair market offer & I can let you know shortly if it is likely to work.
Please Give me the minimum acceptable offer?
We sometimes are able, however that number is often determined by insurance company and other offers on the table.
It’s your equipment, would you please tell me the lowest price you will accept?
We do own some offerings, but many are owned by the insurance company, it’s in your best interest to give a fair firm number.
How long does it take to win a bid?
Some deals are done in hours, many take a week to a month to finalize. There are some deals that are awarded from 6 to 8 weeks out & in some cases longer.
How long should my offer stand as firm?
Some markets the dynamics change monthly. Generally speaking you should tell me how long your offer stands as good.
Who owns the equipment?
Either we do, or the insurance company does.
How long do I have to pick up my deal?
Generally from a few days up to a week or so.
Are there load-out charges?
Some sales come with load-out others the buyer provides it.
Where is your warehouse?
The great Republic known as Texas, however many of our deals are from another site.
Where are the equipment & machinery stored?
A location we control or one where the insurance controls, or at a 3rd party storage, with some at the place of the loss.
Are these assets stored outside or inside?
Could be either, as well as covered or exposed, each deal is different.
Why are other websites also selling what you showed me?
Auction sites like SalvageSale, Salvex, Ritchie Bros. (Rbauction), IronPlanet, Weller Salvage, Network International, JeffWebber & others may contain assets we are offering time to time: Occasionally we own it, but mostly its due to an Insurance adjuster who is casting a wide wide net shopping to the world. Adjusters sole source assets for sale or they have multiple asset recovery companies they are seeking bids from.
I seen this offered from several dealers or brokers, is it your’s?
Either others who were shopped the deal by the insurance are attempting to sell it, but most likely it’s from someone I have shopped it out to for an offer.
Your Insurance Salvage has been offered to me before, do you control it?
We control some deals, others are sent to various others like us to get it sold, Ask me,
Do you handle PayPal or Credit Card payments?
NO PayPal, NO Credit Cards, we only accept cashiers checks, company checks, bank wires.
Can I make payment at time of load-out?
Often you can, but no truck will leave without payment in full.
Based on your experience, where do you think I should make my offer at?
You know your market, decide wisely. Often times I’m prohibited from saying even when I know.
How much will they take for the machinery?
It’s usually high offer, or close to high offer if they seem more capable of performing payment and pick up right away.
What does it take to win the bid?
Each deal is different, sometimes it’s based on invoice, actual cost, wholesale or even retail street prices – the lower ranges are 8-12%, mid range 13-18%, higher ranges can be from 20% to 60% depending on the asset. In some cases we will tell you what % it takes to buy the deal today – for instance a certain % of Landed Cost.
Do you have private offerings?
Yes, although not always. If you are a strong bidder, you have better chance to be shown a private offering with no other competition.
What do you need from me to get on your salvage buyers list?
Full contact details including cell phone, description of items wanted with conditions wanting to bid on, volumes, and area of service. Click here.