Timed and live equipment auctions explained for sellers
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In a timed auction, lots accept bids within a stated window under the platform and sale rules. A live auction is conducted in real time, with the auctioneer managing the bidding. Online access can be part of either format, so online alone does not tell you which process applies.
For a seller, the practical questions concern preparation, instructions, buyer access and what happens after bidding. The format does not remove the need for accurate descriptions or agreed settlement arrangements.
What changes for the seller?
| Matter | Timed format | Live format |
|---|---|---|
| Bidding period | Confirm opening and scheduled lot closing times | Confirm the session and order of proceedings |
| Closing rules | Check any extension or staggered-ending rules | Check the auctioneer's process and relevant conditions |
| Seller availability | Agree who handles urgent questions or corrections during the window | Agree who can provide instructions before or during the session |
| Catalogue preparation | Finalise evidence before buyers rely on it | Finalise evidence before buyers rely on it |
| Result follow-up | Confirm status after lots close | Confirm recorded status after the session |
BidSpotter's terminology guide describes these basic formats. Specific features, timings and rules must be confirmed for the actual sale.
Do not treat the closing time as the whole timetable
A stated end time is one milestone. Payment, collection and seller settlement may follow under separate conditions. Read the seller auction stages before telling colleagues that the entire disposal will finish when bidding closes.
Some timed sales use extensions when a qualifying bid arrives near the end. The extension guide explains the questions to ask. Do not borrow a duration from another auction or assume every lot ends at one fixed time.
For a live sale, ask how seller instructions are recorded and who can respond if the auctioneer needs clarification. Availability should be agreed, not improvised while the owner is travelling or operating equipment.
Use the format that fits the proposed audience and work
Ask the sale adviser why the proposed format suits the assets. Relevant considerations include how buyers can inspect the equipment, what evidence is available and how the consignment is organised. Avoid claims that one format automatically creates stronger competition.
The auction and private-sale comparison addresses the broader route decision. First establish whether an auction is suitable, then clarify how the proposed format would operate.
Record the final seller instructions
Confirm the catalogue version, price authority and contact arrangements using the pre-auction seller check. If a condition or included item changes, tell the auctioneer through the agreed route. A public correction needs to be consistent across the places buyers may have relied on the original information.
Discuss the available format with UK Auction Group. Ask for the actual sale timetable and conditions before deciding what your staff need to do. A clear format description should leave fewer questions about responsibilities, not simply give the event a label.
Explore the auctions and private sales guides.
Sources
- UK Auction Group: asset disposal Checked
- BidSpotter: jargon buster Checked
This guide gives general information. Equipment-specific, legal, tax and safety decisions may need a qualified adviser or competent specialist. The guides do not promise sale prices, fees or results.