AutoRefresh System

The AutoRefresh System initiates during the final minutes before each auction lot closes. You will see this on the Lot Details page as the “Time Remaining” clock begins counting down each second, eliminating the need to continuously “Refresh” the page. We have recently made some upgrades to the AutoRefresh System. You can test this at www.Networkintl.com by clicking on the “AutoRefresh System Test” under the “Support” menu. If AutoRefresh does not initiate on your computer, please call us at (800) 424-9111 and we will walk you through enabling the AutoRefresh System for your browser.

Online Auction

Online Auctions are events where bidding takes place only over the Internet. Lots can be physically inspected before the Online Auction, and each lot is available for preview in an online catalog, with recent photos. Lots remain open for bidding for seven days prior to the closing and close on a specific date and time.

Overtime

During an Online Auction, any bid in the final 2 minutes before a Lot is scheduled to close triggers an Overtime period of 2 minutes. The clock will continue to reset to 2 minutes until no bids are placed during that 2 minute period. Overtime is designed to give every buyer an equal opportunity to purchase regardless of the speed of your computer or Internet connection.

Private Sales

Typically, Private Sales are unused and specialized pipe or equipment in which Buyers may make an offer for the specific equipment. Buyers can complete the purchase of a Private Sale at any time using the "Buy It Now" button, or they can submit an offer below the asking price using the 'Make Offer" button, which will be submitted to the seller for consideration.

Proxy Bidding

Online Auction Lots open for bidding approximately seven days before the scheduled closing date(s).  Proxy Bidding allows you to submit your highest bid (a Proxy Bid) and the Auction system will automatically bid for you up to your maximum bid, so you do not have to watch the entire auction or even be at your computer on the day lots close. Please note: Proxy Bids can be raised at any time prior to the close of the lots.

Watchlist

The Watchlist is a list of e-Auction lots that you are tracking. You can add as many lots as you want and remove them whenever you wish. Lots are automatically added to your Watchlist if you bid on them. The Watchlist keeps track of lots that are open, closed, and lots that you have won. It also has information about each lot, including the Lot ID Number, Lot Description, Highest Bid, the Current Bidder, the number of bids, and the time remaining before the lot closes. You can also bid from the Watchlist.

Field Services

Network International sends qualified field service representatives to verify inventory and provide digital pictures and detailed descriptions

“Buyer Friendly” Lots

Network categorizes the inventory into equipment “Lots” that are appealing to buyers.