BUFFALO, N.Y., Feb. 4, 2020 /PRNewswire/ -- Aucto.com, a leading online industrial marketplace for corporations, released its latest selling method, Tenders. Modeled after a seal-bid auction format, Tenders provide corporations with another way to sell surplus and used industrial equipment, machinery, and parts. The new selling format offers sellers another sale variety to sell industrial assets that may not traditionally perform well in an auction format.
Jamil Rahman, Aucto.com's Founder, and CEO, comments: "Many of our enterprise sellers are looking to sell high value or unique equipment, machinery, or systems which there may be limited demand for in the secondary market. By utilizing Tenders, Sellers can expose their assets to the marketplace in a low-risk format that lets the market dictate the price through a competitive bidding process."
The new selling format allows sellers to offer a single or group of assets for sale and set an expiry date for when all bids are due. Aucto then markets the assets to its global buyer base, who can submit their best offer for those assets in a sealed bid format. Once the Tender expires, sellers review the bids and can award the sale to the highest bidder.
Initially launching in 2017, Aucto.com was born out of the recognition that the dominant liquidation model was failing to meet the needs of enterprise sellers. Challenging the traditional method of liquidation, Aucto.com sought to provide corporate sellers with five core differences to fulfill the needs of sellers.
These five core differences include:
- Control - Over all aspects of the process
- Transparency - Throughout the entire sale.
- Marketing - Ensuring that qualified buyers see your assets
- Support – No matter the support you need our team can support you
- Cost – Providing an unmatched experience to sellers at no cost.
To learn more about Aucto and how to leverage this new feature for selling industrial equipment visit Aucto.com.
Aucto.com is an online industrial auction platform where corporations can industrial machinery, equipment and parts. The platform provides sellers with a global industrial buyer market and buyers with access to a massive inventory of industrial equipment at liquidation pricing.