The Auction Consignment Process

The consignment process begins when you contact HIGHTRAC with details about your equipment. This can happen through our online consignment form, by phone at (731) 256-2703, or via email at info@hightrac.com.

To provide accurate guidance, we need basic information about what you are selling:

• •Equipment identification: Make, model, year, and serial number
• •Usage: Hour meter reading or mileage
• •Condition: Operational status and any known issues
• •Location: Where the equipment is currently located
• •Photos: If available, images showing overall condition

This information helps us assess market value, recommend appropriate auction timing, and discuss commission structures. The more detail you provide upfront, the more accurate our initial guidance will be.

After reviewing your submission, a HIGHTRAC representative contacts you to discuss your equipment and answer questions. This consultation covers several important topics:

• •Market conditions: Current buyer demand for your equipment category
• •Timing recommendations: Which upcoming auction best fits your equipment
• •Fee structure: Commission rates and any applicable costs
• •Reserve options: Whether to set a minimum acceptable price
• •Logistics: Photography scheduling and equipment access

Once we agree on terms, you receive a consignment agreement documenting everything discussed. This contract specifies commission rates, payment terms, reserve prices (if any), and auction assignment. Review it carefully before signing.

Professional presentation drives buyer interest. Our team captures comprehensive photography showing your equipment from multiple angles, highlighting key features, and documenting condition accurately. For high-value items, we may produce video walkarounds or operational demonstrations.

Each listing includes detailed specifications:

• •Make, model, year, and serial number
• •Hour meter or mileage reading
• •Engine and drivetrain specifications
• •Operational status and maintenance history (if available)
• •Notable features, options, or attachments
• •Known issues or required repairs

Equipment is then assigned to an appropriate upcoming auction. Check our auction calendar to see scheduled sale dates.

Marketing begins immediately after cataloging. Your equipment appears across multiple industry platforms where serious buyers actively search for machinery:

• •EquipmentFacts: One of the largest equipment marketplace networks
• •Proxibid: Major auction platform with extensive buyer base
• •BidSpotter: International auction marketplace
• •HiBid: Growing platform for equipment auctions
• •HIGHTRAC Website: Our own inventory listings

This multi-platform approach ensures your equipment reaches buyers regardless of which marketplace they prefer. We handle buyer inquiries, schedule inspections upon request, and maintain listing accuracy throughout the marketing period.

During this phase, interested buyers may contact us with questions. We relay technical inquiries to you as needed and coordinate pre-auction inspections for serious prospects. View our online auction information to understand how bidding works.

On auction day, registered bidders compete for your equipment. The auction format affects how bidding proceeds:

• •Timed Online Auctions: Bidding opens early and closes at a scheduled time. Extended bidding rules prevent last-second sniping.
• •Simulcast Auctions: Live auctioneer calls lots while online bidders participate in real time.

The highest bid at closing wins. If you set a reserve price and bidding does not meet it, the equipment does not sell. We discuss next steps for reserve-not-met situations, which may include contacting the high bidder, adjusting the reserve for a future auction, or exploring other options.

After your equipment sells, we collect payment from the buyer. Payment methods and clearing times vary, but most transactions settle within two to three weeks of the auction close.

Once buyer payment clears, we process your disbursement according to the consignment agreement. You receive:

• •Payment via check or wire transfer
• •Detailed settlement statement showing sale price, commission, and net proceeds
• •Transaction documentation for your records

Buyers typically arrange equipment pickup within the timeframe specified in auction terms. We coordinate handoff logistics and ensure proper documentation before release.