When an IronPlanet user needs construction equipment or agriculture equipment, they can place bids on auctions ending on any given day, giving them flexibility. Depending on which auction listing a user wants, there are many ways for users to place bids.
Priority Bids
When a buyer cannot be online during an auction, they are able to place a Priority Bid ahead of time. This allows them to make an offer on an item during a preview, and place a maximum bid at the beginning of the auction, so they do not have to monitor the sale to the end. They can enter the maximum amount of money they are willing to spend, and IronPlanet will automatically keep them in the lead unless they are outbid by another user. Should another user enter a bid that matches the maximum Priority Bid during the live auction, the Priority Bid will be kept in the lead, since it was placed first.
Bidding requirements
Whether participating in the live auction or putting in an offer ahead of time, buyers should keep in mind that bids cannot be retracted once they have been made. The amount a buyer bids can be increased at any time, but there is no way to cancel or decrease it. Just as with Priority Bids, when two IronPlanet users place matching bids, whoever got their bid in first will be kept in the lead unless another user makes a higher offer.
Once an auction has closed, bids can no longer be placed. The user with the highest bid will be declared the winner of the auction, and will have three days to pay IronPlanet for their equipment. After that, the winner will need to arrange transportation and other details in order to receive their items.
