SalvageSale, Inc. is an online marketplace built for disposal of insurance and corporate surplus, salvage and other goods. Started in 1999, SalvageSale serves millions of customers with its proprietary bidXchangeTM auction.Auction Rules
SalvageSale's bidXchangeTM auction differs from eBay in the following ways:
- The seller may stipulate terms of sale in the listing, as well as select the start and end times of the auction. All such times are expressed in Central Standard/CST time.
- Bidders place bids on the listing in accordance with the seller's terms of sale.
- All bids must be placed for the total quantity offered. SalvageSale does not deal in partial lots.
- Upon entering a bid, bidders will be able to view their current rank and place in the Auction Watch section of their MySalvageSale page.
- Market Maker expertise; SalvageSale has "Market Makers" who actively drive auction activity
- The seller is able to view all bids placed on his listing, but does know the identities of the bidders.
- Once a winning bid is selected (either automatically or by the seller), the bidder will be notified via email and receive a Request for Funding that includes payment instructions.
Awards
- 2005 Ernst & Young Entrepreneur of the Year® Regional Finalist
- 2005 A.M. Best E-Fusion Award in Special Coverage Management
- 2005 FastTech 50 Top 10 Finalist
- 2005 Inaugural Aggie 100 Honoree - Top 10 Finalist
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