Frequently Asked Questions
Click on the questions to view the answers.
Introduction | General Questions | Website Navigation | Registration | Bidding | After Sale | Technical Issues | Hints
Who is Asia Bid Co. (Inc EuroBidco & GlobalBidco)?
Asia Bid Co. (Inc EuroBidco & GlobalBidco). is a company dedicated to providing an Online Auction Engine to companies, dealers, auctioneers and agents who do not have such a tool in house for selling used equipment. Asia Bid Co. (Inc EuroBidco & GlobalBidco). staff come from a traditional auctioneering background with a good knowledge of computers and computer users.
What does Asia Bid Co. (Inc EuroBidco & GlobalBidco) do?
Asia Bid Co. (Inc EuroBidco & GlobalBidco) acts as a service provider, providing the Online Auction tool so that sellers and buyers of used equipment can interact with each other to everyone's benefit. Asia Bid Co. (Inc EuroBidco & GlobalBidco) do not own any of the assets on the website, nor does it become involved in the financial transaction between the buyer and the seller.
What is an auction?
An auction is a method of selling items where the items (Lots) are offered for sale with a starting Bid price, people interested in purchasing a Lot or Lots then compete by bidding against each other with each bid going higher until there is only one bidder left who has therefore outbid all of the other bidders. Providing the highest bid is above the Minimum Selling Price, that item (Lot) is awarded to that Bidder, who then pays for it and removes the item.
I think I am missing some messages or notices
Does the equipment work?
All equipment is sold "As is" with no warranty or guarantee that the equipment works. It is the responsibility of the bidder to view the equipment and determine its suitability for use and functionality.
I want to view the equipment
Lots can be viewed at their location. Some sales will indicate when public viewing is available, please contact the seller direct to make other arrangements.
I need more information on the equipment
Contact the seller direct with a list of specific questions which you have on the Lots.
Can I get more photos of the Lot?
We encourage sellers to upload as many photos of Lots as possible, however if you need specific photos of parts of the Lot please contact the seller direct.
What taxes will I have to pay?
This depends on a number of things, however the general rule of thumb is that if you purchase Lots which are located in a foreign country and you import them into your country, you will need to pay all of the duties and taxes related to the import, but none of the local taxes of the country where the Lots were located. If you are a local purchaser, then you will have to pay the necessary local taxes. Other rules apply where equipment is located in special economic zones. Also in some countries, when Lots are sold overseas, the Lot price is not subject to local taxes, but the Buyers Premium will be, as it is determined as being a service provided in that country irrespective of the final destination of the Lots. Contact the seller direct for more precise information.
What does the "clear" by or "pay by" date mean?
These dates are the last dates that the seller will accept for payment in full or removal of the goods from site. If you do not fully comply with these dates, then you will be in breach of contract, please see the sellers terms and conditions for more details.
Where are the Lots located?
The location of the Lots is stated on the Sale Information page, with city and country. All Lots within a sale will be in the same city.
What are the different Sale Types?
A Staggered Online Auction is when the individual Lots close sequentially, one after the other, a specific time apart. An Online auction is when all of the Lots close at the same time with no time between them.
Can you tell me who the seller is?
What date and time does a Sale/Lot close?
Can you tell me the Minimum Selling Price for a Lot?
The Minimum Selling Prices are set by the seller, they are not displayed on the website and are set at the sole discretion of the seller. The seller normally will not inform bidders what the Minimum Selling prices are.
How do I ship the goods after I have bought them?
All sellers sell Lots where they stand (ex-works), therefore it is the responsibility of the purchaser to remove the goods and ship them. If you do not know any local riggers or shippers, the Seller will assist you in finding such companies. You will then need to contact these companies to get quotes, negotiate and contract directly with them.
How can I Search for equipment?
What is the list of categories on the Home Page?
All Lots are categorized by industry type, so if you are looking for specific types of Lots like Machine Tools or Plant Services, you can simply look at the Lots listed in those categories, rather than looking through each Auction.
I can't remember my password.
What's a Buyers Premium?
The Buyers premium is a old Auction tradition. Its is an additional % which the seller adds to the final winning bid amount. If the winning bid is $120 and the Buyers Premium is 15%, then the final sale value for that item will be $120+15% = $138.00 which will then be subject to local taxes as applicable.
I want to change my marketing email preferences.
After signing-in, go to the My Account section, proceed to Category of Interest section and click the "Edit" hyperlink.
I want to change my password.
After signing-in, go to the My Account section, at the top, click on the hyperlink "Change my Password".
I want to change my address etc.
After signing-in, go to the "My Account" section, at the top click on the hyperlink "Edit Personal Details".
How do I know when a lot closes?
Why do you say "Sale starts to close"
The auction list shows a Close date and time, but in what time zone?
For simplicity, there are only 4 time zones stated on the Home Page auction calendar, these time zones are based upon where you are located when accessing the website or the Country you have entered when you register. The 4 time zones are PST (Pacific Standard Time) i.e. the time zone for the central United States, GMT (Greenwich Mean Time), i.e. the time zone for England, SAST (South Africa Standard Time), i.e. the time zone for Cape town South Africa and CCT (Central China Time), i.e. the time zone for Hong Kong. None of the displayed times take Daylight Savings into account.
How can I contact the seller?
The Sale Information Page has all of the contact information for the seller, contact name, telephone and fax numbers and a link to allow you to email the seller direct.
I keep on getting get logged out of the system.
If you have not been active on the site for 25 minutes, then for security purposes, you will be automatically logged out. Simply sign back in and carry on where you were.
What currency is used?
Each Auction uses the currency of sale as chosen by the seller. For bidders convenience, on the Lot Listing Pages, the currency can be converted into any currency you wish, however this is only a guide and all bidding and invoicing will be done in the currency set by the seller. For this reason the Auction Room Pages (from where bidding occurs) do not include a currency conversion.
What do the different Sale status mean?
The Sale Status shown on the Home Page indicates 1) Lots Live.. Lots are loaded and ready for bidding 2) Lots Pending... the Sale information is uploaded, but the Lots are not yet loaded to the sale, but you can get an automatic notification when they are loaded by clicking on the Sale Event Information hyperlink. 3) Closed for edit .. Lots are uploaded, but the seller is making some changes to the Lots and therefore the sale is temporarily closed until the changes are uploaded. In this instance all bidders who have bid on the Lots which have been edited will be automatically notified by email of the changes.
What does Asset location mean?
The Asset location is the Country and City where the assets in that Auction are located.
I haven't received my email for account verification.
Account verification emails are sent out immediately by the automated system, so you should receive it within minutes. Please check your Spam or Trash folder for the email as sometimes they get incorrectly tagged. If they are in your Spam or trash folders, please ensure that you add our domain to your safe senders list, as email is the primary way that we and the Seller contact you about future auctions, invoices etc. Instructions on how to add us to your safe senders list are HERE for different email programs.
What does "Seller Approval" mean?
When a sale is identified with "Seller Approval", this means that the seller has requested an additional step in the registration process. If you have never registered on the website, this additional step will simply be added as step 4 of the registration process. If you have previously registered on the website, this additional step will be highlighted when you add Lots from this sale to your Auction room or try to bid on Lots from this sale. The requirements of this additional step must be fulfilled before you can bid. Not all sales require this additional step in the registration process.
Why does the Seller need to approve me after I have registered on the website?
There are many reasons why a seller may need to have an additional registration step, such as requiring a deposit to be paid, to ensure that the Lots in the Sale are not being sold to banned countries etc. It is at the sole discretion of the seller if they wish to include as additional registration step for a sale. Not all Sales require an additional registration step.
I have already been approved by this seller before.
Every sale is different with different requirements, two sales may have two different sets of additional approval requirements. Therefore if a seller approves you for one sale, you would still have to be approved again for another sale by the same seller. However the seller will know that you have been previously approved which may speed up your secondary and subsequent approvals. Not all Sales require an additional registration step.
It says I can't bid until the seller has approved me.
Some sellers require that the bidder goes through an additional registration step for a Sale, such as the payment of deposits etc. In these cases, after you have added lots from this sale into your Auction Room, the seller will contact you with whatever additional requirements they require before you are able to bid. Not all Sales require an additional registration step.
Seller has not answered my approval request yet.
Sometimes the additional registration step may take some time to fulfill. In your Account section, under Auction Approval Status, you can see a summary of auctions that you are either waiting for approval on or have been approved on. There is also a button allowing you to email the seller direct for those auctions you are still waiting for approval on. Not all Sales require an additional registration step.
The Seller is not allowing me to bid.
Please note in the terms and conditions that the Seller has the right to reject companies or individuals from bidding. Please contact the seller direct if you have a grievance on this matter.
How do I bid?
What is My Auction Room?
My Auction Room is the control center for items that you are bidding on, or just watching, all bidding is done from within your Auction Room where you can easily see the bidding activity on Lots from multiple sale events in one place.
What is the "Refresh" button for?
In order for you to know if your bid is winning or losing, you must Refresh the Page in your Auction Room, the page does not automatically refresh. Refreshing the page will update all of the information in your Auction Room to show if your bids are still winning or losing or what the Next Bid is on items you are just watching. Don't forget with Extended Time if anyone bids against you in the last 10 minutes of a sale, you will still have 10 minutes from that time to refresh that page and place another bid.
How do I add Lots to my Auction Room?
I just want to watch the bids on Lots without actually bidding.
To watch the bids placed by other bidders on Lots, simply add those Lots to your Auction Room.
What does "BID the NEXT BID or AMOUNT"? Mean?
In your Auction room, you can either 1) Bid the NEXT BID amount stated by simply clicking on the BID button or 2) Enter an AMOUNT which is higher than the NEXT BID amount in the AMOUNT box and then click the BID button. You will then be asked if you want to use this higher amount as an autobid, or simply Bid that higher amount.
What is an Autobid?
An Autobid is where the computer bids on your behalf up to the maximum amount that you input for your autobid, an example is HERE. This feature is useful if you are not going to be able to get online when the auction closes.
Why are some lots in "Extended time"?
In order to compensate for slow internet connections and outages all Lots in all Auctions will work on the Extended Time rule. This means that if a bid is received on a lot in the 10 minutes before the advertised Sale Close Time, then the close time for that individual Lot will be extended by 10 minutes. This will continue until a full 10 minutes have passed where there have been no bids on that Lot.
What is the Minimum sale price (MSP)?
The Minimum Sale Price is the lowest amount that the seller is willing to sell that item for. Once the bidding reaches over the Minimum Sale Price, that Lot will be sold to the highest bidder. If the bidding does not reach the Minimum Sale price, then that Lot will be considered as Unsold.
How is the 'Next Bid' calculated?
The next bid is calculated by adding the pre-determined increment to the previous bid amount. The system will not allow you to bid any amount below the Next Bid amount.
I can't bid, the button is grayed out.
This could be for a number of reasons 1) The Lot is already closed after which no more bidding is accepted or 2) You are still waiting for approval to bid on this sale.
Who determines the Increment?
The seller determines the increment for every Lot, the increment for a Lot is fixed for the duration of the sale.
My bid of cents after the decimal point is not accepted.
The system does not accept bids with amounts after the decimal point and will automatically round such values down e.g. a bid of 352.86 is converted to 352.00
What is the Minimum bid?
The minimum bid is the lowest bid which the system will accept. It is the addition of the last Bid + the Increment.
The system will not accept my bid amount.
This could be for a number of reasons 1) you are attempting to bid below the Next Bid amount, 2) You already have the highest bid on a Lot, 3) Another bidder has bid since you last Refreshed the page and so you need to Refresh the Page to see what the new Next bid amount is. If any of these are the case and you are not seeing a popup message, then please ensure that all popup blockers are disabled for the website. Otherwise please contact Asia Bid Co. (Inc EuroBidco & GlobalBidco) Tech Support.
I want to cancel my bid!
Please contact us at Asia Bid Co. (Inc EuroBidco & GlobalBidco) Support.
I made an incorrect bid what do I do?
Contact Asia Bid Co. (Inc EuroBidco & GlobalBidco) Support.
I want to reduce or cancel my autobid.
You can remove your autobid by bidding the next bid amount against yourself. This obviously means that you will increase your bid by 1 increment. Otherwise contact Asia Bid Co. (Inc EuroBidco & GlobalBidco) Support.
Why did my bid not beat an autobid of the same maximum value?
Bids are prioritized on the time they are placed, a bid or autobid placed first gets priority over subsequent bids of exactly the same amount placed at a later stage.
Who is bidding against me?
In your Auction Room, to the right of the Amount box, there is a H, clicking on that will show you the Previous Bids for that Lot.
After The Sale
How do I get my invoice?
Your invoice will be sent to you by the Seller The system will provide the Seller with all of the details which you entered during registration and those details are where the seller will send the invoice to, so please ensure that your details are correct and edit them if necessary.
Can the goods be delivered to me?
All items are sold from where they are located, meaning it is the responsibility of you the buyer to remove and ship the goods. If you do not know any companies who can do this for you, then the seller will be able to give you contact information for such companies, however you must negotiate and contract directly with those companies.
I won the bidding, but I do not want it now.
Under the terms and conditions of the sale, you entered into a contract with the seller to pay for and remove the goods within the time constraints stipulated. Therefore if you later decide you do not want the items, you are in breach of that contract and the seller has the rite to pursue you with whatever means necessary to collect the payment due. You will also be blacklisted from any future events on any Asia Bid Co. (Inc EuroBidco & GlobalBidco) websites, therefore we recommend that you enter into the bidding at the auctions ONLY if you fully intend to proceed through with the purchase if you are successful bidder.
The cost of shipping the Lots to me is too much.
Before entering into an auction we strongly recommend that you consider the facts that all items are sold "as is" with no guarantee or warranty as to their working condition and also "Where is" requiring the buyer to be responsible for the cost of removal, rigging and shipping. You must investigate the costs of this and the suitability of the equipment for your needs before you bid as if you are the winning bidder above the Minimum Selling price, you are obliged by law to complete the purchase.
Do I pay VAT / local taxes?
Local taxes (such as VAT or Sales tax) will be charged by the seller if you are a local purchaser. If you are an International purchaser, then you will normally not be required to pay local taxes on the goods, but you may be required to pay local taxes on the Buyers Premium as this is deemed to be a service provided in that country and therefore subject to local VAT.
Does this site use Pop ups?
This website contains a large number of messages, warnings and guidelines in the form of Popup messages, therefore we strongly recommend that you enable popups for this website. Instructions for how to do this for different web browsers can be found HERE.
What happens if the internet goes down?
We can not be responsible if your internet connection is lost or the data center in which we host our servers suffers a major technical issue. Our terms and conditions of use states that we can not guarantee uninterrupted access to our site. If the site goes down completely then we will re-schedule to close auctions on a future date and time, in agreement with the seller. The Extended Time application which applies to all of the Lots which we sell goes some way to assist you if your Internet connection is slow or is lost for short periods of time.
Any other problems or questions.
For problems and questions regarding the website and its functionality, please contact Asia Bid Co. (Inc EuroBidco & GlobalBidco) Support, for problems and questions regarding Auctions and Lots, please contact the seller of those particular items.
Because of the Extended Time application, waiting for the last possible moment to place a bid does not improve your chances of winning that item, as after your bid is received, the close time on that Lot will be extended by 10 minutes. Waiting until the last possible moment to bid actually only improves your chances of losing that item if, for instance, your internet connection is slow or goes down at that particular moment and the Lot closes without receiving your bid.
Placing autobids is a good way not to be drawn into the 'auction fever' and bidding more than you intend to for a Lot. Simply decide on the maximum amount you want to pay, enter that as an autobid and turn your computer off. The system will automatically look after your bidding without you getting 'emotionally' involved in the sale.