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K-Bid is a specialized online auction website which supervises the sale and purchase of (primarily) business equipment. Many of the items on sale are vehicles, including tractors and other farm machinery, but you can find vans and tricks, boats, photocopiers and more. Items range in quality, from scrap metal to brand new vehicles.
It’s worth noting that K-Bid is mainly for sales in Minnesota, North Dakota and Wisconsin, although you can find sales further afield too.
K-Bid is a great site for anyone who has just started up a new business and needs a few desks, filing cabinets. Maybe you need a van to take you from A to B? Maybe you're looking to upgrade your store? Maybe you've had to go into liquidation and want to recoup some losses? If so, KBid is a site you need to have a look at.
The important thing to remember about purchasing on this site is that the buyer has to arrange for goods to be collected. So, if you purchase a truck you have to go pick it up, you can’t expect that it will be driven to you. The same goes for all office or business equipment, unless, of course, you make another arrangement with the seller.
Buyers are also required to pay an additional fee after an auction has been won, which is approximately 10%-13% of the final sales price. So, if you paid $1000 for an industrial oven, you’d end up paying $1100 in total.
This gives the seller a bit more freedom and means they won’t lose profits, which could be vital given the fact that the site mentions the fact that many of its auctions are from business liquidations. That might be to your benefit if you’re a buyer, though, as many sellers will be looking for quick cash.
To become a seller, you need to set up an account, which requires you to send your information to the admin team for it to be verified. This is a bit of a pain but it’s understandable given the high-end nature of the sales.
Beyond advertising an item (or group of items) or placing bids, there isn’t much to do on this website. The FAQ is a bit limited too, which means you’ll need to communicate with the K-Bid team if you wish to find out more.
The great potential of K-bid lies in their specialism: you can get ex-commercial equipment at a low price. A lot of the onus is put onto the buyer, which has both positives and negatives depending on your position, but if you’re looking for a business bargain then this site might be worth checking out.
Click on the button below to check out K-Bid.com for yourself...