Live auctions are available to take place. In order to bid online, you simply have to register and agree to the sales terms and conditions; the registration link will be on the sale page. Once your details have been verified, an email confirmation will be sent to you, enabling you to bid at auction. The auction will open approximately a week before the final day of closing. A specific end time will be displayed with the closing date. There is a specified time between each lot closing of generally 1-2 minutes. In the event there is competitive bidding up to the last few seconds an additional period will elapse in order to ensure you can extend your time bidding on each lot.
There is also an option for you to place maximum bids (also known as proxy bids) via the website so you do not have to actively bid live in the auction. The platform will bid up to the reserve or against other participants and may bid up to the level of the proxy bid. In the event there are no other bidders, the item can be won at the reserve price and may not reach the proxy bid. Once the sale has closed the bidder is responsible for the asset(s) on which they are successful. Invoices are usually issued within 24 hours from the sale ending.
Private Treaty Sale
In a Private Treaty Sale, assets are sold via a negotiated sale between Hilco and the offering party. There can be an extended period of time in which to sell the assets or we can set a timeframe within which offers are to be received. On receipt of all offers we will review the assets with our client. A sale is concluded by raising an invoice or issuing a Special Purchase Agreement. On receipt of cleared funds title will pass to the purchaser and they will be responsible for the uplift of the assets.
Sealed Tender Sale
You will receive a tender form which will have detailed descriptions of each lot. Here you will be asked to submit your maximum bid for each lot / asset by a specific time. There is no direct competitive bidding and all parties are asked to submit their maximum bid only. Once the deadline has expired all bids are reviewed and the highest bids are presented to the vendor for review.
We often have live auctions taking place on site with an auctioneer taking bids from a rostrum while simultaneously taking bids from registered online bidders. This gives you the opportunity to participate in a live auction in person or bid from the comfort of your home / office. The same registration and post-sale processes apply with the online auction system.
Please click on the link to discover more about our Asset Sales.