Grouped extension

Equip-Bid has a new feature called grouped extension which has been added to our Internet auctions.

What is it?
Grouped extension is a way to minimize the chance you as a bidder will miss out on a good value when several similar assets are sold in an Internet only auction. Grouped extension will work in harmony with our existing automatic bidding extension feature that is familiar to anyone who has bid in a Equip-Bid Internet-only auction. That existing feature will continue to apply to all items that are not part of an extension group.

How does it work?
Occasionally, Equip-Bid will group together similar assets in an Internet only auction and place them in a bidding extension group. Any bid within the last few minutes that causes an automatic extension of bidding on any one of the assets in that group will now automatically extend the bidding on ALL assets in that group. When no more bidding has occurred on any assets in a group for the specified time, then bidding on all assets in that group will close simultaneously.

What does this do for me as a bidder?
If several similar assets interest you but you do not want to bid aggressively on several of them at the same time and risk actually owning all of them, the grouped extension feature may help you. When similar assets are included in a group for bidding extension, you can bid aggressively on any one item in the group until you have exceeded the price you are willing to pay for that item. You can then shift to any other item in the group and bid on it until you have won the item or exceeded the amount you want to bid. You won't have to worry that the chance to bid on other items in that group will close while you are trying to outbid someone on another item in the group. If you want to stop bidding on one item in the group and focus on another item, you'll have a better chance to do that under the grouped extension feature.

Here at Equip-bid.com, we are dedicated to having the best customer service possible. No matter if you are a buyer or a seller we hope you are 100% satisfied with your experience here at Equip-bid.com. So if at anytime you have any question or comments feel free to contact us.