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6 Tips to Prepare for a KMC Virtual Auction

3 June 2020 - 17:53, by , in Blog, No comments

Until we are able to safely host live auctions at our Anaheim warehouse again, Kohn-Megibow Company is offering online virtual auctions for all used restaurant equipment. You can still find all the high-quality restaurant equipment you need at a fraction of retail price. You can save time and money while bidding from the comfort of your home or office.

We know this is a little different process for many of you, and we are still learning new things from week to week and listing to listing. So far, it has gone extremely well and we see the potential of doing online auctions (at least on some level) in the future as a supplement to our bi-weekly live auctions. With this in mind, we have compiled this list of tips to help you get better prepared for a KMC virtual used restaurant equipment auction.

1. Sign Up on Proxibid

The first step is to set up your Proxibid bidder account that will give you full access to KMC’s online listings and the ability to bid on the items in which you are interested.

2. Search KMC Listings

To find the used restaurant equipment you are looking for, you can browse through KMC’s listings by clicking here and you can also conduct a search if you are looking for something specific. The Proxibid site is very user-friendly and makes it easy to search active auction listings.

3. Read the Descriptions Carefully

The Kohn-Megibow staff is working hard to post new listings and provide as much information as possible about each piece of used restaurant equipment available online. Please read the item descriptions carefully and look through all the photos provided. We will make notes about the condition of the equipment, as well as any active warranties. If you have any questions, you can call KMC and we’ll do our best to get you the information you need before you make your bid.

4. Look at the Closing Dates and Times

Though there are ultimately some pieces that we may auction “live” through Proxibid, a majority of our listings are up for an extended period of time. What’s great about this is you have more time to do your research, think about your budget and browse through all your options before committing to a bid. Online auctions aren’t nearly as frantic as live auctions, so it’s easy to understand why some of our customers are loving this new service.

5. Utilize the “Maximum Bid” Option

Another great feature of Proxibid is the ability to enter a maximum bid. You can bid live in increments as listed on each item’s page, or you can put in the highest amount you are willing to spend on a particular item. The system then automatically bids in increments for you. It doesn’t mean the item will sell for your maximum bid. It just keeps bidding incrementally on your behalf until another buyer exceeds your max bid amount. The system will also let you know when you’ve been outbid if you want to enter another maximum bid amount.

6. Pay Attention at the End of a Listing

Whether you are bidding incrementally or using the maximum bid feature, it’s a good idea to watch the end of the auction. Set an alarm reminder or something that allows you to check-in during the final few minutes of any items you are bidding on. You can make last-second bids or just feel the excitement as your winning bid holds on. Once the auction ends, you can pay for your equipment at any time and arrange pickup or shipping with KMC.

If you have any questions about buying through Proxibid or you are looking for specific restaurant equipment to buy directly from our warehouse, contact Kohn-Megibow Company today!

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