From strategic preparation to tactical bidding, knowing the right strategies to follow with online auctions can improve your experience and increase your winning odds. While Surplus Record doesn’t host online auctions directly, we’ve spent decades working with sellers to promote their online and physical auctions. Whether you're a novice bidder or a seasoned auctioneer, these tips and strategies will help you navigate the digital auction space with confidence and success. Plan for Success: Online Auctions Tips and Preparing Successfully navigating the exciting world of online auctions requires more than just a keen eye for value; it necessitates careful planning, strategic bidding, and a comprehensive understanding of the auction platform. In this section, we will delve into key strategies that can significantly enhance your chances … [Read more...] about Winning Online Auctions: Bidding Strategies You Must Know
Industry News
Screening Online Auctions and How to Spot Red Flags
As we embrace the digital era, online auctions have become an integral part of purchasing industrial equipment and machinery. They offer convenience, variety, and often, competitive prices. However, this growing digital marketplace has also seen a rise in fraudulent activities. At Surplus Record, we are committed to fostering a secure and trustworthy environment for our users. That's why we've put together this guide. We'll walk you through essential precautions and strategies to ensure your online auction experience is not just successful, but also safe. Whether you're a seasoned bidder or just beginning your journey into online auctions, this guide will empower you with the knowledge to bid with confidence and security. Identifying Reputable Online Auction Platforms In the vast digital sea of online auction … [Read more...] about Screening Online Auctions and How to Spot Red Flags
Three Economic Expectations Which May Prove False: The Importance of Seeking Out Alternative Perspectives
Whether you’re on the left or right, trust in mainstream news has declined precipitously in recent years, not only because of media bias, but also because much of what existing outlets proclaim will happen ends up being at best, misleading, and at worst, completely wrong. In fact, several well-known prognosticators have predicted that the next Presidential election will, in large part, be determined by podcasts and social media due to the dissolution of trust in traditional news sources. However, when it comes to business topics—especially those involving the US economy and manufacturing—information consumers do not have the same alarm bells built in when consuming news. Nor do many seek out (despite the existence of dozens of great sources) expert analysis that offers conflicting opinions on economics. We believe this means that … [Read more...] about Three Economic Expectations Which May Prove False: The Importance of Seeking Out Alternative Perspectives
Tracking the Manufacturing Slowdown
Recent economic manufacturing data suggests a US economy in a downturn (and likely, overall, in recession). In March, ISM’s Manufacturing Index declined for the fifth month in a row (after growing for 28 months before the decline commenced at the end of 2022), at a level signifying material economic contraction and a likely recession. Overall, every single sub-index comprising the overall ISM Manufacturing PMI contracted for the first time since May of 2009. In its latest report, ISM suggests that the PMI stood “at its lowest level since May 2020, when it registered 43.5 percent.” Particularly bearish in the report was the “New Orders” sub-index which “remained in contraction territory at 44.3 percent, 2.7 percentage points lower than the figure of 47 percent recorded in February.” According to ISM and Reuters, buyer anecdotes are … [Read more...] about Tracking the Manufacturing Slowdown
Machinery Appraisal 101: What it is, Why it’s Important, and How to Get it Done
When it comes to machinery and equipment, understanding their value is crucial for any business. Machinery appraisal is the process of determining the value of machinery and equipment, and it is an crucial part of business for a business owner as machinery appraisal can impact business valuation. Here's what you need to know about machinery appraisal and why it's important. What is Machinery Appraisal? Machinery Appraisal is the process of determining the value of machinery and equipment. There are three methods that appraisers commonly use to determine the value of equipment: Sales Comparison Method: This method compares the equipment being appraised to similar equipment that has recently been sold. Income Method: This method considers the income generated by the equipment being appraised, including its operational … [Read more...] about Machinery Appraisal 101: What it is, Why it’s Important, and How to Get it Done
