Lab auctions offer a convenient way for professionals across various fields to buy and sell used equipment, providing access to instruments that might otherwise be difficult to acquire. At Surplus Solutions, we’ve seen firsthand how auctions can be game-changers for organizations looking to maximize value. However, auctions can sometimes feel confusing for first-time participants, so making a comprehensive lab auctions guide is essential.

Therefore, we’ve consulted our experts to compile some of the best tips and practices in this lab auctions guide and help you smoothly navigate your first auction.

Read on to learn how to outbid your opponents and win affordable lab equipment at an auction.

What Are Lab Auctions?

Auctions are events where participants bid on and buy used lab, processing, and packaging equipment at competitive prices. Like other auctions, they operate on the principle of the highest bidder—whoever is willing to pay the most wins the item in question.

Most lab owners find it challenging to keep up with the latest technological advancements while maintaining cost-effectiveness, especially when buying new equipment. Lab auctions offer an ideal solution, providing access to highly specialized devices for a fraction of the price.

Furthermore, auctions are ideal providers for lab startups whose equipment lists may contain instruments that are too expensive for their limited budgets. Newly established labs rarely have funds for brand-new equipment, so their first pieces often come from auctions.

In addition to being excellent for obtaining affordable tools, auctions can help you sell used lab equipment you no longer need. It’s an excellent way for companies to free up space and recoup income for future projects.

Types of Lab Auctions

Though the principle behind all auctions is roughly the same, there are some differences regarding the platform they are held on and their general organization.

Keeping that in mind, here are the three common types of lab auctions:

• In-person auctions. During in-person auctions, the auctioneer and bidders gather together, and the entire event unfolds live, including announcements and bidding. As a result, bidders can examine the equipment in question, ask for more information, and build networks with other lab owners at the auction.
• Online auctions. Unlike in-person auctions, online lab equipment auctions are held on the manufacturer’s website, where participants can bid within a limited period of time. Once the time runs out, the highest bidder wins, and the equipment is subsequently shipped and delivered. Though convenient, online auctions may lack the personal aspect and not allow you to inspect the equipment you are bidding for thoroughly.
• Sealed-bid auctions. In sealed-bid auctions, none of the bidders know how much the other participants have bid until the winner is announced. This is fairly common and easy to organize in online auctions, but sealed bids can occur in in-person auctions, too. In that case, all bidders submit their bids simultaneously, usually in sealed envelopes.

Full Guide on How Lab Auctions Work

To win the equipment you need, you must first understand the lab auction process, including the participation requirements and the stages that occur after the event’s completion.

With that in mind, we’ve prepared a step-by-step guide to lab auctions, which you will find below.

Step 1: Registration and Eligibility Requirements

The registration requirements can vary between auctions, so it’s important to review them in advance. The organization holding the auction typically includes the requirements in the auction announcement, making all details readily available.

Usually, you’ll be required to provide your contact information, ID or photo verification, and signature on terms and conditions. If you’re participating in an online auction, the signature will likely be replaced by simply agreeing to the terms.

Lab auctions are generally open to everyone but may require a deposit prior to being approved for bidding. During in-person auctions, anyone can come and go as they please, and visitors don’t even have to apply for and participate in the bidding.

Step 2: Viewing and Inspecting the Items

Before the bidding commences, you’ll be allowed to view and inspect each item to assess its condition and functionality. During this time, you can ask questions to help you estimate how much you’d be willing to pay and what the general consensus among other bidders might be.

Of course, this stage is significantly different in online auctions, where you can’t examine the equipment in person. Still, you should carefully read all the information, inspect the attached photos, and ask the auctioneer questions about the instrument’s history, usage, past repairs, and current condition.

Step 3: Bidding Process Explained

Whether you participate in online or in-person auctions, the bidding process is relatively easy to understand. The basic principle is that you place a bid for a specific piece of equipment and compete with others trying to purchase the same item. Whoever offers the highest price wins the lot.

In traditional, in-person auctions, all participants receive paddles with a number upon registration, which helps identify them during the bidding. When the event starts, the auctioneer announces the lot, briefly describes it, and sets the opening price. Then, bidders call out their bids, raising the offer until only one remains.

Live online auctions work in a similar way, except that registered participants watch the bidding process unfold from wherever they are in the world. To ensure the auction proceeds smoothly, the catalog is usually released several weeks in advance.

However, online auctions can also be timed—occurring over a few days or weeks. These auctions don’t require the presence of an auctioneer, and bidders place their bids using their online accounts until the time runs out.

Surplus Solutions frequently holds timed auctions, offering bidders the opportunity to obtain high-quality used lab equipment at competitive prices. If you want to participate, visit our auctions page and follow the instructions to sign up and start bidding.

Step 4: Winning the Auction and Payment Procedures

Once you’ve finished bidding on the items you are interested in, proceed to the front desk to return your paddle. If you’ve won any of the lots, you will receive an invoice here, which you will need to pay to receive your lab instrument.

While you’re there, make sure to inquire about available payment methods. Most auction organizers accept all methods that suit you, but it’s best to check to be safe.

Participants in online auctions typically must enter their credit card information to bid in the first place. Once the winners are chosen, the bid amount is withdrawn from their account, so they don’t need to take any additional steps to pay.

Step 5: Shipping and Pickup Options

Finally, if the equipment you’ve won is too heavy or bulky to carry, the organizer can ship it to the address you provide. All these arrangements should be made at the front desk when you receive the invoice and inquire about payment options.

Winnings in online auctions are always delivered to the address of your choice. However, you can still contact the supplier for further inquiries, information, and adjustments to any details you’ve provided.

When Should You Auction Your Lab Equipment?

You should auction your lab equipment when you no longer need it to recover some of your investment and ensure it benefits someone else. In such a case, auctions can be much faster and more efficient at connecting you to a potential buyer than other channels for selling used equipment.

Our lab auctions guide will introduce you to three situations that might call for auctioning off your lab equipment:

• Downsizing. If a lack of resources or a shift of research focus forces your laboratory to downsize, the best way to dispose of surplus equipment is to sell it at an auction. By doing so, your lab will earn extra money to be directed into new projects, and you will benefit the scientific community and the environment.
• Lab liquidation. Auctions often function as liquidation sales for laboratory tools since many labs on the brink of closing sell their equipment here. That’s largely because auctions’ turnover time is quick, so lab owners don’t have to wait for months until their instruments are sold.
• Upgrading. Sometimes, it’s not liquidation or downsizing that forces labs to auction their old equipment—it is upgrading to better instruments. If a laboratory receives additional funding, its owners may wish to boost its productivity with brand-new technology. To free up space, they’re likely to put older equipment up for sale, often using auctions as a medium.

If you are ready to auction your surplus lab equipment, connect with us to get a detailed report on its resale potential and worth. Afterward, our experts will connect you to the appropriate auction channels and provide continued support until your instruments find a new owner.

3 Key Benefits of Participating in Lab Auctions

The benefits of participating in lab auctions include cost savings, access to rare or specialized tools, and sustainability.

In the following section of our lab auctions guide, we will examine these advantages in more detail.

#1. Cost Savings

For small laboratories with limited budgets, buying new equipment isn’t always an option—usually, it is very expensive, with even essential tools costing several hundred dollars.

However, lab auctions allow each bidder to set their own price and win used equipment at a significantly reduced cost. If the demand for a specific item is low, you’re likely to spend less on it than you would if you bought it from a second-hand marketplace.

Of course, the downside is that your victory isn’t guaranteed, so you might walk away from the auction empty-handed. Nevertheless, the potential discount makes auctions worth a try before resorting to other affordable options.

#2. Access to Rare or Specialized Tools

While all new equipment is expensive, specialized tools are particularly inaccessible to smaller labs. That’s because their price tags are even higher, often crossing the $100,000 threshold and thus significantly exceeding a small laboratory’s budget.

Still, that doesn’t mean small laboratories shouldn’t have access to instruments such as PCR machines, incubators, and autoclaves. They can benefit from this equipment as much as big, well-established labs and have equally notable scientific contributions.

Luckily, some rare and specialized tools are sold at auctions for a reduced price, so even labs with limited budgets can afford them if they win the bidding.

#3. Sustainability

Purchasing used lab equipment either directly from vendors or at an auction contributes to sustainability, as it reduces the need to produce new laboratory tools. Furthermore, instead of being disposed of, old lab equipment can find new applications, which aligns with the important ecological principle of reusing rather than wasting.

5 Foolproof Tips for Purchasing Lab Equipment at Auctions

Five foolproof tips for buying lab equipment at auctions include researching the vendor, assessing the lab instruments’ quality, understanding terms and conditions, learning about price limits for different items, and looking into additional fees.

In this lab auctions guide, we will examine each of these tips for lab equipment auctions in more detail.

#1. Research the Vendor

Before you apply for an auction, research the organizing vendor to ensure it is reliable and has a good track record of selling and buying used equipment. Your research should include reading information on its website, but you should also focus on customer reviews and details relating specifically to auctions.

If you’re looking for a reliable vendor that provides high-quality used equipment and frequently hosts auctions, Surplus Solutions is an excellent choice. Primarily organizing online auctions, Surplus Solutions invites bidders from all corners of the world to compete for cutting-edge lab tools used in scientific research.

#2. Assess the Quality of the Equipment

Whether you are participating in an online or in-person auction, you should assess the quality of the equipment you intend to bid for. That’s easier to do in person since you can access the tools in question, but you still need to do your due diligence for online auctions, too.

In other words, you should read descriptions, inspect photos, and request documents, certificates, and records. If you have any further questions, contact the organizer—after all, you must gather enough information to determine how much you would be willing to pay.

#3. Understand the Terms and Conditions

When signing up for an auction, you will be asked to read and sign the terms and conditions outlining your rights and the vendor’s responsibilities.

Since this can be a lengthy document, many people sign without reading, but our lab auctions guide doesn’t recommend that. It’s best to familiarize yourself with it so that there aren’t any misunderstandings.

#4. Know the Price Limits for Different Items

Though your goal is to win the equipment you set your sights on, you don’t want to accidentally overpay for it. This can happen if you’ve not fully done your research on each item and learned what they typically sell for.

So, our lab auction guide recommends that you visit various manufacturers’ websites and check the prices listed there. Then, take into account that auctioned equipment isn’t new and can, therefore, be purchased at a discounted price.

If you’re still not sure how to estimate the cost, you may request quotes from used equipment vendors. This will give you a rough idea of the price you might be expected to pay and help you plan your budget accordingly.

#5. Look Into Additional Fees and Charges

Finally, our lab auctions guide advises you to check whether there are any additional fees, such as buyer’s premiums for running the event, insurance coverages, or shipping costs. If these pile up, a seemingly good deal may end up far more expensive than you initially thought.

Why Choose Surplus Solutions for Lab Auctions

Many experienced lab owners choose Surplus Solutions for lab auctions, trusting the vendor to smoothly handle the entire process—from registration to delivery.

Here are some additional reasons to participate in Surplus Solutions laboratory auctions:

• Frequent events. Surplus Solutions organizes auctions several times a month, and they are open to all participants, regardless of their location. As a result, labs in urgent need of specific equipment can quickly find and access affordable options.
• Transparent auction process. All information about Surplus Solutions auctions is available on the website, along with details on past and upcoming events. Each event lists start and closing times, payment details, participation fees, bidding instructions, and the organizer’s contact information. Furthermore, the catalogs are always revealed as soon as the auction is announced.
• Dedicated customer support. Surplus Solutions’ dedicated customer support is available every step of the way, guiding each participant through the bidding process. If you have any questions or concerns, don’t hesitate to contact our agents—they will get back to you as soon as possible.

Aside from auctions, Surplus Solutions is considered a highly reliable marketplace for pre-owned lab equipment. Visit the official website often to keep up with new arrivals and learn more about our offers and services.

Key Takeaways

To wrap up, let’s briefly review what we’ve covered in this comprehensive lab auctions guide.

Essentially, we’ve given you some tips on how to bid on laboratory equipment and emphasized the importance of research and preparation before participating in an auction. Learning about the organizing vendor and standard prices of specific tools may improve your chances of placing the highest bid and obtaining the necessary equipment.

Ultimately, if you’re looking for a reliable used equipment marketplace that frequently organizes lab auctions, our guide recommends Surplus Solutions. Reliable and trusted, our vendor puts an emphasis on quality, safety, transparency, and customer satisfaction.

Lab Auctions Guide FAQ