Restaurant Equipment Auction Bidding: A Guide
Equipment auctions offer some of the best prices on quality used restaurant equipment, but bidding successfully takes preparation, since the best deals go to buyers who research and set limits before the auction begins.
Preparing Before Bidding
Reviewing auction listings, photos, and any available inspection reports ahead of time lets buyers set a maximum bid based on real market value rather than getting caught up in the moment.
- Research comparable equipment pricing before the auction
- Set a firm maximum bid for each item in advance
- Review item photos and condition notes carefully
- Factor in buyer’s premium and any removal costs
Understanding Buyer’s Premium and Fees
Most auctions add a buyer’s premium percentage on top of the winning bid price, which should always be factored into your maximum bid calculation.
Online vs. In-Person Auction Bidding
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Auction Bidding Preparation Checklist
| Step | Purpose | Timing |
|---|---|---|
| Research comparable pricing | Set realistic bid limits | Before auction day |
| Review condition photos/reports | Assess true equipment value | Before bidding |
| Calculate total cost with premium | Avoid overpaying | Before setting max bid |
| Plan equipment pickup/transport | Avoid storage fees | Before winning bid |