We conduct traditional live auctions several times a year. In such a case, all potential buyers are present, usually at the respective place of business. Here, participants have the opportunity to view and inspect the machines. The auction is then conducted in line with the respective auction regulations. All items are presented by the auctioneer, who receives the incoming bids and accepts the bid of the highest bidder. Buyers receive their invoices onsite and are able to may their payment. Collection takes place depending on the disassembly work and framework conditions involved, smaller machines are generally collected right after the auction.
We conduct online auctions analogue to the live auction as far as possible. All information that is known as well as the prices are shown online. The objects can be viewed prior to the auction. Registered customers place their bids publicly with their user name. When the auctioneer counts down, "going, once, going twice, gone", some additional time will also remain online for additional bids. The close of the auction is automatically moved back so that the time between the last bid and the close is not less than 10 minutes. Once the auction has closed, the buyers received their invoices digitally and by mail and can arrange for pickup once the entire sum has been paid.
Online trading is understood as a free sale on site. Here, the seller assigns no exclusive marketing rights to NetBid. That its pricing is free and the knock-down must be done manually. With regard to inspection, payment and pickup the same processes as in the online auctions are.
WebCast auctions are a special form of live auction, during which the data from the ongoing live auction is also transmitted to the Internet. This way, registered customers can take part in a live auction from another location.