How Pallet Auctions work
Transcript
Critical Rules to Know Before You Bid
Critical Rules to Know Before You Bid
If you are new to liquidation auctions, keep these strict industry rules in mind to avoid unexpected costs:
Bids are Legally Binding: You cannot cancel, delete, or withdraw a bid once you click submit. If you bid, you are committing to buy.
Expect a Buyer’s Premium: The final price you pay is higher than your winning bid. The auction house adds a "Buyer's Premium" (typically around 5% to 8%) on top of the final hammer price, plus local sales tax.
Everything is Sold "As-Is": Lost cargo is a mystery. There are no refunds, returns, or manufacturer warranties. You are buying the pallet entirely at your own risk.
If you are new to liquidation auctions, keep these strict industry rules in mind to avoid unexpected costs:
Bids are Legally Binding: You cannot cancel, delete, or withdraw a bid once you click submit. If you bid, you are committing to buy.
Expect a Buyer’s Premium: The final price you pay is higher than your winning bid. The auction house adds a “Buyer’s Premium” (typically around 5% to 8%) on top of the final hammer price, plus local sales tax.
Everything is Sold “As-Is”: Lost cargo is a mystery. There are no refunds, returns, or manufacturer warranties. You are buying the pallet entirely at your own risk.
If you are new to liquidation auctions, keep these strict industry rules in mind to avoid unexpected costs:
Bids are Legally Binding: You cannot cancel, delete, or withdraw a bid once you click submit. If you bid, you are committing to buy.
Expect a Buyer’s Premium: The final price you pay is higher than your winning bid. The auction house adds a “Buyer’s Premium” (typically around 5% to 8%) on top of the final hammer price, plus local sales tax.
Everything is Sold “As-Is”: Lost cargo is a mystery. There are no refunds, returns, or manufacturer warranties. You are buying the pallet entirely at your own risk.
Frequently Asked Questions
Frequently Asked Questions
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Step 01
Register for a free account
Before you can participate you'll need a bidder account on the designated auction platform. During signup you'll be asked to read and agree to the auctioneer's Terms & Conditions.
Step 02
Verify your payment method
To keep every bidder legitimate, the platform requires a valid credit or debit card on file. A temporary verification hold — usually $1.00 — confirms the card is active, and it's released automatically afterward.
Step 03
Choose your bidding strategy
Auctions run in a timed, online-only format, and most lost cargo pallet lots open at a $10 minimum. Once you find a lot you want, there are two ways to bid.
Step 04
Watch for the "soft close"
These auctions use a 2-minute soft close. If anyone bids inside the final two minutes, the clock gains two more. Everyone gets a fair chance to respond and nobody can snipe at the last second — the lot ends only once two full minutes pass with zero new bids.
Step 05
Pay and pick up
Win, and an invoice is emailed to you automatically. It must be paid in full on the day of the auction. Once payment clears, collect your merchandise from the warehouse during the designated pickup window, or arrange freight shipping if the lot is eligible.
01
02
03
04
05
Step 01
Register for a free account
Before you can participate you'll need a bidder account on the designated auction platform. During signup you'll be asked to read and agree to the auctioneer's Terms & Conditions.
Step 02
Verify your payment method
To keep every bidder legitimate, the platform requires a valid credit or debit card on file. A temporary verification hold — usually $1.00 — confirms the card is active, and it's released automatically afterward.
Step 03
Choose your bidding strategy
Auctions run in a timed, online-only format, and most lost cargo pallet lots open at a $10 minimum. Once you find a lot you want, there are two ways to bid.
Step 04
Watch for the "soft close"
These auctions use a 2-minute soft close. If anyone bids inside the final two minutes, the clock gains two more. Everyone gets a fair chance to respond and nobody can snipe at the last second — the lot ends only once two full minutes pass with zero new bids.
Step 05
Pay and pick up
Win, and an invoice is emailed to you automatically. It must be paid in full on the day of the auction. Once payment clears, collect your merchandise from the warehouse during the designated pickup window, or arrange freight shipping if the lot is eligible.
01
02
03
04
05
Step 01
Register for a free account
Before you can participate you'll need a bidder account on the designated auction platform. During signup you'll be asked to read and agree to the auctioneer's Terms & Conditions.
Step 02
Verify your payment method
To keep every bidder legitimate, the platform requires a valid credit or debit card on file. A temporary verification hold — usually $1.00 — confirms the card is active, and it's released automatically afterward.
Step 03
Choose your bidding strategy
Auctions run in a timed, online-only format, and most lost cargo pallet lots open at a $10 minimum. Once you find a lot you want, there are two ways to bid.
Step 04
Watch for the "soft close"
These auctions use a 2-minute soft close. If anyone bids inside the final two minutes, the clock gains two more. Everyone gets a fair chance to respond and nobody can snipe at the last second — the lot ends only once two full minutes pass with zero new bids.
Step 05
Pay and pick up
Win, and an invoice is emailed to you automatically. It must be paid in full on the day of the auction. Once payment clears, collect your merchandise from the warehouse during the designated pickup window, or arrange freight shipping if the lot is eligible.
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We’re eager to keep you in the loop
Receive emails packed with our latest auction news.
We’re eager to keep you in the loop
Receive emails packed with our latest auction news.
Turning Pallets into Profits,
One Auction at a Time.
© 2026 Pallet Auctions. All rights reserved.
Built with
by Auction Experts
Turning Pallets into Profits,
One Auction at a Time.
© 2026 Pallet Auctions. All rights reserved.
Built with
by Auction Experts
Turning Pallets into Profits,
One Auction at a Time.
© 2026 Pallet Auctions. All rights reserved.
Built with
by Auction Experts