Questions About Auctions

Why have an auction?
Whether you are merging facilities and have excess equipment or you are trying to generate cash flow quickly, Williams & Lipton Company can sell some or all of your facilities assets.

How long will it take to arrange an auction?
From the time we receive your signed agreement, we recommend a four- to six-week time frame leading up to your auction event. Lead time can vary depending on the size of the auction to be held. For more information, see our auction process.

What will it cost to hold an auction?
Cost will vary depending on factors such as size of facility, location and the quantity of assets to be sold, and the type of auction you require. We will be glad to provide you with a proposal. Simply contact us and a Williams & Lipton Company appraiser/consultant can discuss your options with you as well as outline the costs associated with each option.

How can I place an auction bid?
If you haven’t already, Check out our Current Auctions to identify an auction at which you’d like to bid.

To place an auction bid:

For ONLINE bidding:

1. You can register withing the bidding section fo the auction. Registration is located just underneath the Keywords Box. Please be sure to complete the information when you register and it will e-mail you a bidder number.
2. Any out of state bidders or bidders planning to be over $5,000 will need to submit a deposit of roughly 25% of their intended bids. If you do not make any purchases, this deposit will be reimbursed to you in full, except any wire transfer fees.
3. Once you register and are approved you will receive a bidder number.

4. We will provide all winning bidders an invoice after the sale has ended. We request that you pay within 48 hours.
5. You will need to make arrangements to remove your purchases; the time frame for removal varies depending on the auction. (Removal instructions listed below)

After placing a successful bid, what do I need to remove the machinery?

1. Contact a licensed rigger to schedule removal of your machinery. Download a pdf of contact information for riggers in our region, for machinery too large to be removed by you. Please note that Williams & Lipton does not endorse any of these companies or guarantee their performance or results.
2. In order for a rigger to remove any machinery from the building, a minimum liability policy of $2,000,000 must be obtained and on file with Williams & Lipton Company.
3. Tax exemption documents with a valid tax ID number must be shown. If you cannot provide a valid sales tax exemption certificate, sales tax will be added to your bill as required by law.
4. All Outstanding invoice amounts must be paid in full before any purchases may be removed.
5. Once the above items are obtained/completed, check in with the on-site administrative office. The Williams & Lipton Company employee(s) will process your account and verify that all requirements have been satisfied. Failure to meet any of the above requirements can result in delays and/or additional costs.
6. After release by a Williams & Lipton Company employee(s), you will be free to remove your purchased items.

If planning to pay with a company check please show this Sample Bank Letter of Authorization to your banker:

Date:

To: Williams & Lipton Company, Plymouth, Michigan

Mr. (Customer Name) of (Company Name) is a customer of this bank. This bank will guarantee irrevocable, unqualified payment for full face value stated on this letter to Williams & Lipton Company for checks drawn on (account number) for an amount up to $_______.00. This letter is void after (date).

Sincerely,

Bank Representative
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