Frequently Asked Questions

We have provided a section here for your most Frequently Asked Questions, and to help you understand our online auction marketplace. Even though we've taken a comprehensive crack at anticipating what you might need to know, we may have missed something not listed here. For those situations, please contact us directly. Our Website Rules also have good information regarding how to conduct business on our marketplace.

 

Frequently Asked CompetiBid Questions

Definition of Surplus and Salvage

Salvage goods typically result from circumstances of accident, distress, or theft and may be heavily discounted according to their condition; nevertheless, they are goods that retain some market value—usually from 15% to 30% of the insurance claim value or 40-60% in the case of theft recoveries.

Surplus goods are typically overstocked items in new or nearly new condition. Surplus goods may sell for prices close to original market value. End-of-life or capital assets being liquidated by large corporations are also considered surplus. The condition of the goods ranges from "used" to "excess" that may have never been put into production.

Escrow

As escrow holder, CompetiBid has the obligation to safeguard funds and make no disbursements until (a) the buyer receives the product or (b) the Pick Up Date stated in the lot's terms has passed, and CompetiBid has made commercially reasonable efforts to arrange the products release to the buyer. To accomplish the administrative escrow duties, we have established a bank account where funds are held completely separate from CompetiBid's holdings and each transaction will be segregated and tracked by separate lot numbers.

Once the seller selects a winning bid, the CompetiBid Web site will automatically generate a Request for Funding to the buyer. This request contains payment instructions, including information about the bank account reserved for that particular transaction.

* Upon receipt of this request, the buyer has 48 hours within which to fund the account via wire transfer.
* Upon funding, CompetiBid will notify the seller of our receipt of funds, and ask the seller to arrange the release of goods to the buyer.

When release of goods is complete or title has transferred, CompetiBid will immediately forward the net proceeds to the seller. "Net Proceeds" is the total price paid less CompetiBid's commission, any agreed fees for other services, and any applicable taxes payable on our services. If the Pick Up Date stated in the lot's terms has passed, CompetiBid will make commercially reasonable efforts to ensure that the product is released to the buyer. At that point, CompetiBid will forward net proceeds to the seller, regardless of whether or not the buyer has actually received the product.

In the rare case where issues arise, CompetiBid will work diligently with the buyer and seller to close the transaction, or will refund all monies to the buyer.

Receipt of Goods/Logistics

Unless otherwise noted in the terms of a sales agreement, it is the responsibility of the buyer to arrange for receipt and transportation of goods.

The seller releases the goods to the buyer upon receipt of the buyer's signature on the shipping documents (or upon execution of a formal transfer of title, where required).

The terms of sale may also specify a storage fee if the buyer does not take possession of goods in a timely manner, as stated in the agreement.

Browser Requirements

To get a faster loading site and more interactive features, you must be using an updated web browser. We want to help make this as easy as possible for you so we’ve provided some links for you to download a FREE, upgraded browser. So click a link below, download a new web browser, install it, and try it out... we’re sure you’ll be happier with your internet experience because of it.

How does the 'Set Reminder' function work?

From all of our auction lots, you can click on the "Add to Calendar" graphic or link to add that lot's closing date to your calendar. By doing so, you will receive a personal reminder when the auction of your interest is about to end. The iCalendar function, which is what you will use to set your reminder, is compatible with most online calendars.

Prohibited Items

CompetiBid prohibits the sale of toxic, radioactive, explosive, or otherwise hazardous goods on its marketplace. For a complete explanation, please see our Lot Policy.

Auction Rules and Procedures

For optimum flexibility in buying and selling goods, CompetiBid applies rules and procedures as described below.

* The seller may stipulate terms of sale in the lot, as well as select the start and end times of the auction. All such times are expressed in Central Standard/CST time.
* Bidders place bids on the lot in accordance with the seller's terms of sale.
* All bids must be placed for the total quantity offered. CompetiBid does not deal in partial lots.
* The seller is able to view all bids placed on his lot, but does know the identities of the bidders.
* Once a winning bid is selected (either automatically or by the seller), the bidder will be notified via e-mail and receive an invoice in their account and in their email.

CompetiBid Neutrality

CompetiBid remains neutral by assisting both buyers and sellers equally. We do not take title to any of the items, and we provide assistance to both buyers and sellers in order to facilitate a fair and successful transaction.

International Transactions

As an Internet marketplace, we recognize no geographical boundaries. CompetiBid has established many global alliances and has facilitated many international transactions. Of course, CompetiBid is bound by international trade restrictions, as is any international company.

Standard Fee Schedule

Registering and bidding on items on our site are free. Our standard fee schedule for completed transactions is set forth in the Standard Fee Schedule. Unless otherwise stated, all fees are quoted in U.S. dollars.

Transaction Settlement

In most instances, the process for settling a transaction is as follows:

* Step 1: CompetiBid notifies the buyer who was awarded a winning bid via e-mail. This e-mail includes an invoice containing payment instructions.
* Step 2: The buyer funds the escrow account within 3 business days of receiving the invoice from CompetiBid.
* Step 3: CompetiBid confirms that the buyer has funded the escrow account and notifies the seller.
* Step 4: It is the responsibility of the buyer to arrange for receipt and transportation of goods; however, CompetiBid may facilitate the arrangements for transportation of goods. CompetiBid may mutually reveal the identities of the buyer and seller, but is under no obligation to do so.
* Step 5: The seller or seller's agent releases the product to the buyer and obtains the buyer's signature on the shipping document (or executes formal transfer of title where required).
* Step 6: Seller or seller's agent provides CompetiBid with a copy of the shipping document or title transfer documentation.
* Step 7: CompetiBid releases funds to the seller.

If Step 5 is not completed by the Pick Up Date specified in the lot's terms of sale, CompetiBid will make commercially reasonable efforts to ensure that the product is released to the buyer. At that point, CompetiBid will forward net proceeds to the seller, regardless of whether or not the buyer has actually received the product.

Membership Requirements

Registration and participation on CompetiBid's marketplace is contingent upon acceptance of the User Agreement of the Web site. CompetiBid reserves the right to permanently revoke any registration.

Registration Process

Register to become an authorized CompetiBid member by clicking the Register link here and elsewhere on the site. Membership is free.

* Buyers: Members who wish to register as a buyer will have their phone number and email addresses verified. Due to the number of products listed on CompetiBid, our lots generate many e-mail notifications.

To bid on lots in the CompetiBid Marketplace, you must first validate your e-mail address via phone call you will receive after registration or by respoding via email to our outreach after registration. In an effort to continue strengthening the integrity of the marketplace, CompetiBid verifies all new buyer registrations before allowing members to bid. Once the verification process is complete, you will be able to bid on any items you please.

Log In Instructions

To enter a bid, you must first log in, which you can do by entering your email address and password at the top of the page or through the "log on" section. Enter your e-mail address and password, and then click Submit. Once you have successfully logged in, you do not need to do so again, as long as you keep your session open and active.

User Name/Password Help

If you have forgotten your password, please click here, type in your e-mail address where indicated and click "change password". The system will then send you instructions on how to change your password.

If you are having trouble with your e-mail address and password, please contact payments@competibid.com for assistance. You will receive a prompt e-mail reply.

Managing Your Account Information

To change your email address and password, or to update your account information (address, phone, company, etc.), log in to the Web site (at the top) and click on your email address, and click on "edit profile".

Problems Receiving E-mail Messages

There are several reasons why e-mail from us may not reach you. SPAM filtering is one of them. Many Internet service providers will filter out messages from anyone who isn't on their list of recipients.

You may receive e-mails from us that originate from any of the e-mail addresses listed here: info@competibid.com, customerservice@competibid.com, payments@competibid.com

Add CompetiBid to Your E-mail 'Safe List' or Personal Address Book

To ensure delivery of CompetiBid messages, you will want to add the CompetiBid e-mail address to your e-mail browser's safe list or address book. If you are not sure how to add an address to your e-mail safe list, check with your e-mail service provider.

Refer to following instructions if you are using Hotmail, Yahoo Mail, AOL, Outlook or Earthlink SpamBlock, SpamArrest, SpamCop.

Hotmail
To ensure that CompetiBid e-mail is not sent to your Hotmail Junk E-Mail folder, you can add the newsletter e-mail address or domain (A domain is the portion of the e-mail address that comes after @ -- e.g. @ CompetiBid.com) to your Hotmail Safe List.

* Go to the Options page. (upper right of screen)
* On the left side of the page, click Mail, and then click Junk E-Mail Protection.
* Click on Safe List.
* Type an address or domain (a domain is the part of an e-mail address that follows the @ sign) from which you always want to receive messages, and then click Add.
* Click OK.

AOL 7, 8
To ensure that you receive your CompetiBid e-mail notifications, place an e-mail ID in your AOL Address Book. Here's how:

* Go to Keyword Mail Controls
* Now choose 'Customise Mail Controls'
* For AOL 7.0, include in the section, "exclusion and inclusion parameters", the domains from which CompetiBid e-mail is sent: CompetiBid.com
* For AOL 8.0, choose "Allow mail from AOL Members and addresses listed"
* Type: CompetiBid.com
* Click Add.
* Choose "Ok" displayed at the bottom.

AOL 9.0
The best way to ensure that you will receive your CompetiBid e-mail notifications is to place an e-mail ID in your "Person I know" buddy list. All mail you receive from this e-mail ID will pass through the filters. So, make sure that when receive an e-mail from CompetiBid, it is ADDED to your buddy list.

Yahoo
Yahoo mail uses combination of bulk mail folders and filters. If you are not receiving your CompetiBid e-mail notifications, check your "Bulk Mail," locate the filtered CompetiBid e-mail notifications, and open the email, then click on the "Not Spam" button. Or to create filter for your CompetiBid e-mail:

* In Yahoo mail, click the "Mail Options" link on the top-right navigation bar, and then choose "Filters" located on the left side of the page, under the Spam column.
* To create a new filter, click the "Add Filter" link on the Filters page.
* Choose the field you want to match in the incoming message. For example, select the one of the following headers: From, To/Cc, Subject, or Body to match.
* Choose the criterion by which you want a match to be made. For example: contains, ends with.
* Enter the text string to compare. For example: @CompetiBid.com.
* Choose the destination folder to which you would like the message delivered. For example: CompetiBid. Note you can create a folder by selecting [new folder].
* If you have more than one filter, you'll also see "up" and "down" arrows to the right of the filter list. Use these buttons to select the placement of your new filter within your existing sequence of filters. Filter order is important because Filter 1 will be the first filter applied to an incoming message, Filter 2 will be the next, and so on until a match is made or all filters are passed. If no filters match an incoming message, it will be delivered to your inbox.
* Be sure to click the "Add Filter" button to put your new filter into effect, after you've selected a folder in which to file the e-mail.

Click the links below for online help for Yahoo Mail:
http://help.yahoo.com/l/us/yahoo/mail/original/manage/manage-35.html
http://help.yahoo.com/l/us/yahoo/mail/index.html

Outlook
When setting Junk E-Mail Filters in Outlook, the Junk E-Mail Filter is turned on by default. The first time Outlook moves a message to the Junk E-mail folder, it will notify you with a dialog box. To change junk e-mail settings in Outlook:

* On the Tools menu, select Options.
* In the Options dialog box, in the E-mail section, click Junk E-mail.
* Choose the level of junk e-mail message protection you want. Click OK.

To add a sender to your Safe Senders List, Safe Recipients Lists, or Blocked Senders List:

* Right-click on a message from the sender.
* Point to junk e-mail, and click either Add Sender to Safe Senders List, Add Sender to Blocked Senders List, or Add Recipient to Safe Recipients Lists.

For online help with Outlook 2007 and previous versions, click the link below:
http://office.microsoft.com/en-us/outlook/FX100487751033.aspx

SpamArrest, SpamCop and Earthlink SpamBlock
It is important that you add us to your safe list if you use a permission-based e-mail system such as Earthlink SpamBlock, SpamArrest or SpamCop. Permission-based filtering is a great way to limit the amount of spam you receive. However, your CompetiBid messages are sent by automated e-mail systems. The systems won't detect (let alone reply to) permission requests from SpamBlock, SpamArrest, SpamCop and other, so it is imperative that you take the initiative and add the CompetiBid addresses to your safe list.
Buying

What is Extended Bidding?

If any bids placed within the extended bidding interval of the lot End Time result in a change of the first place bid, the lot extends until no bids result in a change of the first place bid for the extended bidding interval.

There is no limit to the number of times a lot can be extended.

How do I bid?

After you have registered as a buyer, you will follow this process in order to place a bid:

* You must be a registered buyer member to place a bid on CompetiBid. If you are not already a member, please click here to do so.
* Select the product lot you want to bid on.
* Click on the "lot title" to view the detailed information about the product, including the seller's terms of sale.
* Enter a total bid amount.
* To submit your bid, click the 'Place Bid' button.
* A window will open asking you to verify your bid amount and any bid terms, where applicable.
* Click 'OK' if your bid information is correct.

How do I search for an item?

Use the Search box under the main navigation bar at the top of the page. Enter the item you would like to find and hit your "Enter" key or click on the "Search" button. You can also browse for products by categories and location on the main navigation bar at the top of the page.

How do I view a lot?

To view a lot in detail, click on the title of the lot or its corresponding picture.

How will I know if I am outbid?

If you are not the high bidder, you will receive an outbid e-mail. You will be notified of your bid rank, as well as your place and rank in the auction. In addition, we have a 72-hour funding policy and if the high bidder does not pay for the auction item within our timeframe, we may be in touch with you about purchasing the equipment, if you were the next highest bidder.

I was bidding on an auction that closed. What did it sell for?

Our auctions are based on a sealed bid process—meaning the bid amounts are not published. The place and rank you see during bidding are meant to serve as bid information for you. If your rank was 15-20, the high bid was likely well above your highest bid. If your rank was 2-4, you were likely close to the eventual high bid.

I've won the auction lot. What happens now?

Once a winning bid is selected (either automatically or by the seller), the bidder will be notified via e-mail and receive an invoice with payment instructions.

Who are your buyer members?

Buyers of our auctions items include domestic and international product end-users, brokers, re-manufacturers, used equipment buyers, distributors, and purchasing managers.

Who are your current sellers of auction items?

We receive assets from corporate asset managers, industrial and commercial companies, attorneys, lenders, and individuals.

Why am I unable to place a bid?

When you registered as a buyer on our system, you were contacted by our Payments Department to validate and confirm your e-mail address. If you did not receive this contact attempt, contact payments@competibid.com or 636-253-8319.

Benefits of Buying through CompetiBid

* Enjoy the benefits of e-commerce. CompetiBid offers flexibility, liquidity, and affordability.
* Reduce the costs of locating products. With CompetiBid, you can search for a wide array of products and receive notifications of new lots in your specific areas of interest.
* Participate in dynamic pricing alternatives with CompetiBid's auction model.
* Track your results. CompetiBid provides reporting and tracking for each transaction, including bid history records.

Buyer Responsibilities

Buyers are responsible for verifying all information about a lot before placing a bid. CompetiBid neither provides nor guarantees the accuracy of any product documentation.

Buyers are also obligated to comply with all terms of sale specified in the lot.

E-mail Notifications

CompetiBid members who are bidding on auction items, receive email notifications when they are outbid or win items. These emails can be numerous if you are an active bidder but are meant to be a helpful tool to keep buyers updated.

Tracking Your Bids

All bid activity can be seen via clicking on your email address at the top of the page when logged in and then clicking on "Account View."

Bid Retractions

Bid retractions are not allowed on any lots. All bids placed on the CompetiBid Web site are binding and considered the legal equivalent of a purchase order. Should you choose not to honor your bid on CompetiBid's Web site, you will be subject to removal from the CompetiBid Website as outlined in CompetiBid's Terms and Conditions agreement.

Should you make a clear, typographical error placing a bid on a particular lot, please contact the Payments Department at 636-253-8319.

Buyer's Premium

For each auction, the winning bidder is required to pay a buyer's premium. Buyers will pay this fee at the same time that they wire the purchase price into the CompetiBid escrow account or pay via PayPal. This percentage is 18% of the gross sales price.

Buyer Default Penalty

If the winning bidder for an auction fails to fund the purchase price and other fees, this defaulting bidder will be assessed a penalty of $2,000 and will be barred from placing bids on any future auctions until the default penalty is paid. Both our buyer and seller community are frustrated by the small minority of defaulting bidders, and expect there to be a consequence. The default penalty must be paid via wire transfer, unless otherwise agreed to by CompetiBid. The defaulting bidder may be subject to other claims, damages or liabilities to the seller and/or CompetiBid. CompetiBid reserves the right to use a collection agency to collect any outstanding penalties.

Receiving Your Proceeds

During the process of gathering product information for the lot, CompetiBid will also request payee information for the transaction. This information will vary slightly depending on the payment method you select-company check or wire transfer. At the conclusion of the Escrow period, CompetiBid will forward the net proceeds to the designated payee via your selected method.

Seller Responsibilities

Prior to lot a product, sellers are responsible for providing as much accurate product information as possible to CompetiBid, including product description, photos, condition/damage, and, if available, survey or inspection reports. Sellers determine the terms of the sale, such as "as is, where is," any load out charges, and the bid due date. The seller should also indicate any restrictions on the sale of the product such as brand protection issues or geographic limitations. The seller gives final approval before the lot is added to the CompetiBid site. CompetiBid neither provides nor guarantees the accuracy of any product documentation provided for a lot.

During the auction, the seller directs all buyers, including consignee or insured, to bid on the CompetiBid site. The seller selects the winning bid and coordinates with CompetiBid for timely release of goods to buyer.

Terms of Sale

Terms of sale should include information on applicable storage charges, loading capabilities or charges for loading, as well as any information on delivery options or restrictions.

Some salvage products have special needs. If, for example, a product must be sold outside your market or requires brand protection, indicate this in the terms of sale of your lot. CompetiBid can accommodate your needs and find qualified buyers for you.

Accurate terms of sale are essential for bidders to account for storage, loading and shipping costs, as well as any special needs, when determining the appropriate amount to bid for the product.

General Information

  • Definition of Surplus

    Surplus goods are typically overstocked items in new or nearly new condition. Surplus goods may sell for prices close to original market value. End-of-life or capital assets being liquidated by large corporations are also considered surplus. The condition of the goods ranges from "used" to "excess" that may have never been put into production.

  • Escrow

    As escrow holder, CompetiBid has the obligation to safeguard funds and make no disbursements until (a) the buyer receives the product or (b) the Pick Up Date stated in the lot's terms has passed, and CompetiBid has made commercially reasonable efforts to arrange the products release to the buyer. To accomplish the administrative escrow duties, we have established a bank account where funds are held completely separate from CompetiBid's holdings and each transaction will be segregated and tracked by separate lot numbers. 

    Once the competitive bidding event is completed, the CompetiBid Web site will automatically generate a Request for Payment in the form of an invoice to the buyer. This request contains payment instructions, including information about the bank account reserved for that particular transaction.

    • Upon receipt of this request, the buyer has 48 hours within which to fund the account via wire transfer, E-check or Pay Pal.
    • Upon funding, CompetiBid will notify the seller of our receipt of funds, and ask the seller, or the onsite representative, to arrange the release of goods to the buyer.

    When release of goods is complete, CompetiBid will forward the net proceeds to the seller. "Net Proceeds" is the total price paid less CompetiBid's commission, any agreed fees for other services, and any applicable taxes payable on our services. If the Pick Up Date stated in the lot's terms has passed, CompetiBid will make commercially reasonable efforts to ensure that the product is released to the buyer. At that point, CompetiBid will forward net proceeds to the seller, regardless of whether or not the buyer has actually received the product.

    In the rare case where issues arise, CompetiBid will work diligently with the buyer and seller to close the transaction, or will refund all monies where appropriate.

  • Receipt of Goods

    Unless otherwise noted in the terms of a sales agreement, it is the responsibility of the buyer to arrange for receipt and transportation of goods. 

    Once the buyer has paid, remitted any required paperwork, and received release documents from CompetiBid, the buyer is free to contact the location and arrange to remove the item(s).

    The seller releases the goods to the buyer upon receipt of the buyer's signature on the shipping documents (or upon execution of a formal transfer of title, where required).

    The terms of sale may also specify a storage fee if the buyer does not take possession of goods in a timely manner, as stated in the sale terms.

  • Prohibited Items

    CompetiBid prohibits the sale of toxic, radioactive, explosive, or otherwise hazardous goods on its marketplace. For a complete explanation, please see our Lot Policy.

  • Auction Rules and Procedures
    • The seller may stipulate terms of sale in the lot. All times are expressed in Central Standard/CST time.
    • Bidders place bids on the lot in accordance with the seller's terms of sale.
    • All bids must be placed for the total quantity offered. CompetiBid does not deal in partial lots. Occasionally, items are sold by the piece, but buyers must purchase the entire quantity (i.e., 10 items sold for $1.00 each = buyer pays $10.00).
    • Once an auction ends, the bidder will be notified via e-mail and receive an invoice. This invoice will be sent to the email address used at the time of registration. Payment instructions will be included on the invoice.
  • CompetiBid Marketplace Team

    CompetiBid's Marketplace Team is an integral part of the transaction process providing hands-on assistance to sellers and buyers. They help list salvage products, generate demand for the auctions, and provide specialized industry knowledge. Operations team members include:

    Content Manager
    Each client has an assigned Content Manager who works with them to gather product information. Together they compose the lots, showing the item in its best light to maximize response and reduce the need for inspections. Because the Content Managers provide the most detailed information available, many of CompetiBid's buyers do not feel the need to arrange for inspections.

    Buyer Researcher
    Additional buyer contacts are gathered, assessed, and relayed to the Buyer Outreach section.

    Market Manager
    Market Managers managers have industry expertise and specialize in machinery and equipment. Market Managers are the primary contacts for the auctions and are responsible for generating demand and creating a market for the product. They have the knowledge and experience to answer industry-specific buyer questions and coordinate inspections for interested buyers. At the end of the auction, the Market Manager brings the seller and the buyer together and facilitates the closing of the sale.

  • CompetiBid Neutrality

    CompetiBid remains neutral by assisting both buyers and sellers equally. We do not take title to any of the items, and we provide assistance to both buyers and sellers in order to facilitate a fair and successful transaction. However, buyers are strongly urged to familiarize themselves with all sale terms prior to placing a bid.

  • International Transactions

    As an Internet marketplace, we recognize no geographical boundaries. CompetiBid has established many global alliances and has facilitated many international transactions. We strongly encourage bidders outside the boundaries of the equipment location to be familiar with and adhere to any terms, payment and removal deadlines as well as trade restrictions pertaining to the assets.

  • Transaction Settlement

    In most instances, the process for settling a transaction is as follows:

    • Step 1: CompetiBid notifies the buyer who was awarded a winning bid via e-mail. This e-mail includes an invoice containing payment instructions.
    • Step 2: The buyer funds the escrow account within 48 hours of receiving Request for Funding from CompetiBid.
    • Step 3: CompetiBid confirms that the buyer has funded the escrow account and sent in any additional paperwork if required. CompetiBid then notifies the seller.
    • Step 4: It is the responsibility of the buyer to arrange for receipt and transportation of goods.
    • Step 5: The site representative releases the product to the buyer.
    • Step 6: Seller or seller's agent provides CompetiBid with a signed copy of the document confirming the buyer removed their items.
    • Step 7: CompetiBid releases funds to the seller.

    If Step 5 is not completed by the Pick Up Date specified in the lot's terms of sale and in the Request for Funding, CompetiBid will make commercially reasonable efforts to ensure that the product is released to the buyer. At that point, CompetiBid will forward net proceeds to the seller, regardless of whether or not the buyer has actually received the product.
     

  • Membership Requirements

    Registration and participation on CompetiBid's marketplace is contingent upon acceptance of the User Agreement of the Web site. CompetiBid reserves the right to permanently revoke any registration.

  • Registration Process

    Register to become an authorized CompetiBid member by clicking the registration link on the site. Membership is free.

    • Members who wish to register as a buyer will have their phone number and email addresses verified. They are also asked to select their product categories of interest so they may be notified of new products added to the CompetiBid marketplace. Please be specific in your category choices. Due to the number of products listed on CompetiBid, our lots can generate many e-mail notifications.

    To bid on lots in the CompetiBid Marketplace, you must first validate your e-mail address by clicking an activation link that will be sent to you after registration. In an effort to continue strengthening the integrity of the marketplace, CompetiBid verifies all new buyer registrations before allowing members to bid. Once the verification process is complete, you will receive an e-mail with your login information.

  • Log In Instructions

    To enter a bid, you must first log in, which you can do by entering your user name and password at the top of the page. Enter your user name (e-mail address) and password, and then click login. Once you have successfully logged in, you do not need to do so again, as long as you keep your session open and active. As a security precaution, a session is considered inactive after a period with no activity. At such time, it will be necessary to log in again in order to resume activity.

  • User Name/Password Help

    If you have having trouble with your user name (your e-mail address) and password, please call us at 636-253-8319 or email us at customerservice@competibid.com for assistance.

  • Problems Receiving E-mail Messages

    There are several reasons why e-mail from us may not reach you. SPAM filtering is one of them. Many Internet service providers will filter out messages from anyone who isn't on their list of recipients.

    You may receive e-mails from us that originate from any of the e-mail addresses listed here: customerservice@competibid.com, info@competibid.com

    Add CompetiBid to Your E-mail 'Safe List' or Personal Address Book

    If you've signed up with CompetiBid, you'll be receiving our CompetiBid e-mail new lot notifications for your selected categories. To ensure delivery of CompetiBid messages, you will want to add the CompetiBid e-mail address to your e-mail browser's safe list or address book. If you are not sure how to add an address to your e-mail safe list, check with your e-mail service provider.

Buying

  • What is Extended Bidding?

    If any bids placed within the extended bidding interval of the lot End Time result in a change of the first place bid, the lot extends until no bids result in a change of the first place bid for the extended bidding interval.

    There is no limit to the number of times a lot can be extended.

  • How do I bid?

    After you have registered as a buyer, you will follow this process in order to place a bid:

    • You must be a registered buyer member to place a bid on CompetiBid. If you are not already a member, please register on our site. You can do this by clicking the "Register" link at the top of the homepage.
    • Select the product lot you want to bid on.
    • Click on the "lot title" to view the detailed information about the product, including the seller's terms of sale.
    • Enter your bid amount.
    • To submit your bid, click the 'Place Bid' button.
    • A window will open asking you to verify your bid amount and any bid terms, where applicable.
    • Click 'OK' if your bid information is correct. Click 'Cancel' to make changes.
  • How do I search for an item?

    Use the Search box under the main navigation bar at the top of the page. Enter the item you would like to find and hit your "Enter" key or click on the "Search" button. You can also browse for products by categories on the main navigation bar.

  • How do I view a lot?

    To view a lot in detail, click on the title of the lot or its corresponding picture.

  • How will I know if I am outbid?

    If you are not the high bidder, you will receive an outbid e-mail. You will be notified of your bid rank, as well as your place and rank in the auction. In addition, we have a 48-hour funding policy and if the high bidder does not pay for the auction item within our timeframe, we may be in touch with you about purchasing the equipment, if you were the next highest bidder.

  • I've won the auction lot. What happens now?

    Once a winning bid is determined, the bidder will be notified via e-mail and receive an invoice email message that includes payment instructions

  • Who are your buyer members?

    Buyers of our auctions items include domestic and international product end-users, brokers, re-manufacturers, used equipment buyers, distributors, and purchasing managers.

  • Who are your current sellers of auction items?

    We receive assets from corporate asset managers, industrial and commercial companies, attorneys, lenders, and individuals.

  • Why am I unable to place a bid?

    When you registered as a buyer on our system, you were sent an e-mail with a hyperlink to click on to validate and confirm your e-mail address. If you did not receive that e-mail message, try checking your bulk or junk e-mail folder. If you cannot locate the confirmation email, please call us at 636-253-8319 or email us at customerservice@competibid.com.

  • Benefits of Buying through CompetiBid
    • Enjoy the benefits of e-commerce. CompetiBid offers flexibility, liquidity, and affordability.
    • Reduce the costs of locating products. With CompetiBid you can search for a wide array of products and receive notifications of new lots in your specific areas of interest..
  • Buyer Responsibilities

    Buyers are responsible for verifying all information about a lot before placing a bid. You may contact a CompetiBid representative or an independent, third party testing service. CompetiBid neither provides nor guarantees the accuracy of any product documentation or description.

    Buyers are also obligated to comply with all terms of sale specified in the lot.

  • Bid Retractions

    Bid retractions are not allowed on any lots. All bids placed on the CompetiBid Web site are binding. Should you choose not to honor your bid on CompetiBid's Web site, you will be subject to removal from the CompetiBid Web site as outlined in CompetiBid's Terms and Conditions agreement.

    Should you make a clear, typographical error placing a bid on a particular lot, please call or email us immediately at 636-253-8319 or customerservice@competibid.com.

  • Buyer's Premium

    For each auction, the winning bidder my be required to pay a buyer's premium. Buyers will pay this fee at the same time they pay for their purchase.

  • Buyer Default Penalty

    If the winning bidder for an auction fails to fund the purchase price and other fees, this defaulting bidder will be assessed a penalty of $2,000 and will be barred from placing bids on any future auctions until the default penalty is paid. Both our buyer and seller community are frustrated by the small minority of defaulting bidders, and expect there to be a consequence. The default penalty must be paid by credit card, unless otherwise agreed to by CompetiBid. The defaulting bidder may be subject to other claims, damages or liabilities to the seller and/or CompetiBid. CompetiBid reserves the right to use a collection agency to collect any outstanding penalties.

Selling

  • How do I sell?

    To list a product for sale on the CompetiBid marketplace, you must have ownership and/or the authority to sell the product. We deal in industrial, metalworking, woodworking, food processing, product lines, inventories, trademarks and patents, warehousing, trucks and trailers, pharmaceutical, chemical processing, construction equipment and many others. If you'd like to sell your equipment with us, please call us at 636-944-3525 or email us at sales@competibid.com.

  • Benefits of Selling through CompetiBid
    • Increase your return on assets. Thousands of buyers worldwide have access to CompetiBid, and we proactively solicit known buyers via e-mail, fax, telephone, trade journals, newspaper banner ads and print media.
    • Reach more customers cost effectively. Our competitive auction format helps drive sale prices that increase your bottom line.
    • Reduce selling costs.
    • Sell your assets through a more efficient and effective channel and receive expert consultation when you are ready to sell your assets.
  • Receiving Your Proceeds

    During the process of gathering product information for the lot, CompetiBid will also request payee information for the transaction. This information will vary slightly depending on the payment method you select (company check or wire transfer). At the conclusion of the Escrow period, CompetiBid will forward the net proceeds to the designated payee via your selected method.