|Q. How do I bid on an item in a Hilco auction?|
A. Hilco Industrial offers several methods of bidding, depending on the type of sale.
Hilco Industrial Webcast Auctions allow you to bid live in person or by phone via the webcast. More Information...
Hilco Industrial Online Auctions allow you to bid online during a designated auction period. More Information...
Bidders who cannot attend an auction can submit a proxy bid, which allows the auctioneer to bid on your behalf up to your designated limit. More Information...
Certain sales may be designated as sealed bid auctions or private negotiations, in which case the bidder will speak directly to a bid coordinator to submit a bid. More Information...
Certain auctions may offer other bidding methods as well. Please see the auction details page for the type of sale and/or specific bidding instructions.
|Q. What is the difference between a webcast and an online auction?|
A. Hilco Industrial Webcast Auctions are actually LIVE auctions that are broadcast worldwide via the Internet. Bidders can choose to physically go to the auction site and bid in person in traditional auction style, or they can log on via the web and bid by phone. Hilco Industrial Webcast auctions are unique in that the bidder is able to speak directly to the auctioneer via a live toll-free conference call when bidding. This eliminates the errors that sometimes arise from "click-to-bid" systems and gives webcast bidders the feeling of being "on the auction floor" with the bidders in the room. To view a Hilco Industrial Webcast auction, you may need to download some software. To bid, you will need to call into the live conference call. When you register for a Hilco Industrial Webcast auction event, you will receive an email containing all the information you'll need to participate.
Hilco Industrial Online Auctions are timed events that allow registered bidders to compete for an item over a designated period of time. These are "e-Bay" style sales where no onsite bidding is offered. Online auctions are held at www.hilcoindonline.com.
|Q. How do I register for an auction?|
A. In order to participate in a Hilco Industrial Webcast or Online Auction, you must first create an account at www.hilcoindonline.com. This process will require that you provide your personal information such as your address, phone number, email address, etc. You will also need to provide a valid credit card in order to participate in an auction. You will only need to provide this information once to create an account, but you do need to complete the simple registration process for each Hilco Industrial auction because the terms of sale may vary from auction to auction. The terms of sale set forth the terms of bidding and buying at Hilco Industrial auctions, important information about possible removal restrictions, and explain possible charges for which you as the buyer will be responsible. Please be sure to always read and understand the terms of sale for each individual event before registering.
Once you have created your account and logged in at www.hilcoindonline.com, you can register for any sale in the Event Registration box, which appears as soon as you log in (or select "My Account" and choose the Profile tab). Simply check the box next to the sale in which you wish to participate, and click the "Register for Event" button. By clicking the "Register for Event" button, you are acknowledging that you have read and agreed to the terms and conditions for that sale. Your status (approved, pending or denied) will appear next to the sale on your Profile page.
NOTE TO BIDDERS OUTSIDE NORTH AMERICA: Any bidder registering with an address outside of the U.S. or Canada will be required to submit a deposit of 25% of your expected maximum total bid in order to be approved to participate. After registering for an event, you will be contacted and provided with wire transfer instructions for your deposit. Hilco will need to be able to confirm receipt of your deposit at least 24 hours before the start of a sale. Once we have confirmed receipt, you will receive an email with your paddle number (for webcasts) and confirmation that you have been approved to bid.
Once you have been approved to bid, you will receive an email confirming your registration. The email will include your paddle number for that event (only required to bid in a webcast) and a link to more information about the sale. Please be sure to keep this email and to read the informational page. You will need to refer back to it on the day of the sale.
PLEASE REGISTER AT LEAST 24 HOURS IN ADVANCE OF ANY WEBCAST OR ONLINE SALE to ensure that all registraion requirements are met and to resolve any connection or bidding problems before the sale begins. It is never a good idea to wait until the day of a sale to register!
Some sales may require onsite registration, or registration at another website. If you don't see the sale you're looking for in the Event Registration section in your account, please check the sale information page for specific registration instructions.
Bidders who intend to bid in person at the auction location should bring identification and arrive at least 30 minutes before the start of the sale to fill out the registration form and receive a paddle.
|Q. Why do you need my credit card?|
A. By providing your credit card information, you are basically assuring Hilco that you are a serious bidder who intends to follow through and pay for the items you win at auction. Your credit card data is maintained on a secure server with 128-bit encryption. A $1 authorization will be charged to ensure that the information provided is accurate, and will be released within 5 - 7 days. Your credit card will be charged for your purchases only if you fail to make other payment arrangements within 48 hours of receipt of your invoice. Credit card billing is available for certain online auctions, but you must provide authorization for us to bill your card. More Information...
|Q. How do I participate in a Hilco Industrial Webcast Auction?|
|A. Auctions conducted using Hilco Industrial Webcast Bidding Technology offer bidders two methods of placing bids. A traditional On Site auction is conducted and "broadcast" via the web, allowing Internet users to see the progression of the sale through a special online presentation. The auctioneer on site can communicate with both the bidders in the room with him, and the bidders on the web.
Because all computers are not of equal capability, and because different Internet connection speeds may affect the transmission of a bid, Hilco Industrial Webcast bids are not placed by clicking a button, but rather by joining a live conference call hosted by Hilco. In this way, Hilco Industrial Webcast bidders are able to hear in real time as bids are being placed both on the auction floor and by Internet bidders.
This method gives bidders the "best of both worlds," allowing them to bid from the comfort of their own home or office, without sacrificing the visibility and timeliness of being on the auction floor.
To participate in a Hilco Industrial Webcast sale, you must first register. Once you have been approved to bid, you will receive an email with some important information, including your paddle number and a link to the live webcast.
Please read the terms and conditions of each individual sale for the most accurate information regarding methods of payment accepted, buyer's premium, etc. This information can be located on the sale information page.
|Q. How do I participate in a Hilco Industrial Online Auction?|
A. Hilco Industrial Online Auctions are conducted at www.hilcoindonline.com. These are click-to-bid, "E-Bay-style" auctions where you may compete with other bidders around the world. There is no onsite bidding for this type of sale; all bidding is done online.
As opposed to an Onsite or Webcast sale, where bids are accepted for one lot at a time as the auctioneer progresses through the sale, online auctions enable bidders to bid on all lots concurrently. Online auctions run for a designated period of time -- usually about a week -- during which bidders can bid competitively on any lot in the sale.
To participate in a Hilco Industrial Online Auction, you must first create an account and register for the event. You can search the items available for online bidding by keyword, category or event. Each item will have a designated opening and closing date and time. Before the bidding opens, you can preview lots and add them to your Watch List. During the designated bidding period, a bid form will appear below the photos and details for each lot. Here you can enter your maximum bid amount and password to place your bid. Your bid must be greater than or equal to the next bid increment displayed to be accepted. If you bid higher than the next required bid, the system will automatically adjust your bid so that you are the high bidder, without bidding more than necessary. Entering into the bid screen the maximum amount you will pay for an item will allow the system to automatically increase your bid incrementally until a competitive high bid exceeds the limit you had previously set, so you won't have to constantly watch your bids. You will receive automated emails informing you when you've been outbid, and will be offered an opportunity to increase your bid before it closes, even if you were beat out at the last second. See 'Extended Bidding" in the glossary for more information.
If you are the high bidder at the close of the bidding period, you will receive an invoice via email after all the lots have closed. This invoice will include relevant information regarding payment, removal, etc. Please note that we don't charge your credit card for your purchases; you will need to remit payment per the invoice within 48 hours of its receipt.
As with any sale, please also read the terms and conditions on the sale information page for the most accurate information regarding methods of payment accepted, buyer's premium, etc.
|Q. How do I participate in an onsite auction?|
|A. On the rare occasion when we are unable to offer Internet bidding, you may be required to be present at an auction site to bid. To bid onsite, please bring identification and arrive at least 30 minutes before the start of the sale to fill out the registration form and receive a paddle. A deposit may be required.|
|Q. How do I participate in a sealed bid or private negotiation sale?|
A. Sealed bid auctions are conducted privately between the Hilco bid coordinator and interested parties. Contact the bid coordinator per the instructions on the general information page for that sale to receive a bid submission packet. The packet will include the terms of sale and a form for submitting your bids. At the end of the bidding term, the coordinator will contact each bidder individually to inform them of whether or not their bid was successful.
Private treaty sales or negotiations are normally conducted for assets such as whole facilities or complete plants. A longer selling period is often required to allow for detailed inspections and to allow for the maximum number of buyers to participate. Unlike auctions, there is an asking price, which is negotiable with the Hilco representative.
Certain other types of privately negotiated sales may be offered, depending on the nature of the assets or facility, the timeframe, or legal factors. Please see the sale details page for specific information about how to make an offer in these cases.
|Q. Are there other types of auctions offered?|
A. In some cases, a Hilco Industrial auction may be offered in conjunction with other auctioneers, who may offer alternate methods of bidding. In those cases, we'll provide details about how to register and bid right on the sale details and offer links to more information.
In some situations, assets or an entire facility may be offered first via private negotiation; then, if all the assets are not sold within a designated amount of time, a webcast, online or onsite auction may be held.
Live Onsite Auction with Internet Bidding:
|Q. What is a proxy bid?|
|A proxy bid is an absentee bid. If you are unable to participate in an auction, a proxy bid enables a member of our auction staff to bid on your behalf. Your bid will go through the standard bidding process. Our auction representative will go up to, but no higher than your top bid, trying of course, to purchase the item(s) for less than your maximum bid if possible. Please note that the buyer’s premium will be added to your winning bid amount; determine your maximum bid accordingly.
Please read the guidelines and complete the proxy bid form to submit a bid.
|Q. How can I pay for my auction purchases?|
A. We accept certified funds such as cashier's checks or money orders; wire transfers; cash; and company checks when accompanied by a letter of guarantee from the bank on which it is drawn. Specific information about payment methods and terms will appear on your invoice.
Credit card billing is available for certain online only auctions in the United States. Your invoice for these sales will include an authorization section which you can sign and fax to our office. Your credit card will be charged within 24 hours of receipt and we will notify the site to release your items to you as soon as the payment has cleared. Please note that credit card billing may not be available for all sales and that we can only bill the card you have on your account. In order to bill another card, you must complete a separate credit card authorization form.
If you have any questions about payments, please contact our accounting office at 616.732.1800 or 800.37.HILCO.
|Q. Why am I being charged sales tax on my purchases?|
|A. Hilco Industrial is required to charge tax in some states and municipalities. In some cases, bidders will be able to furnish a resale or manufacturing tax exemption certificate to have the tax removed for their purchases. Some states require that buyers pay the sales tax and then file for a refund with the state. If applicable, Hilco Industrial will require that the appropriate forms are filled out completely and provided to us before we will consider your invoice paid in full. This is required for each invoice. If you have questions, fill out our contact form or call us at 248.254.9999.|
|Q. What if I didn't find the answer to my question here?|
|A. Please feel free to contact our office at 248.254.9999 or fill out our contact form if you have any other questions or concerns. Our staff is always happy to help.|