FAQs About Auctions on DOTmed
General Questions About All Auctions
Q: Why should I auction on the Internet?
A: You'll typically get a higher price than with other resale options because your item can be seen by thousands of online buyers, and the bidding process tends to reveal the "true market value" for your equipment.
Q: Why is DOTmed.com the preferred site for medical equipment?
A:
- DOTmed is the world's leading marketplace for used medical equipment.
- Over 10,000 - 12,000 people visit DOTmed.com every day -- and our heavy traffic helps you sell your equipment faster.
- DOTmed specializes only in medical equipment -- unlike other auction sites. So every visitor is a potential bidder.
- Our bidders come from around the world, and used medical equipment is often the most efficient purchase option for budget-conscious healthcare facilities.
- DOTmed has a strict Approved Bidder policy.
Q: How does the Approved Bidder policy help me?
A: It helps protect the integrity of the bidding process by virtually eliminating frivolous bids, and helps ensure you're paid in full and on-time. All bidders have to be Approved Bidders.
Q: How do people qualify to be Approved Bidders?
A: Bidders are either: People pre-approved because they are known to DOTmed's Management, or People who secure the right to bid with a credit card.
Q: What happens if an Approved Bidder does not pay as the Winning Bidder?
A: First be aware: if the Winning Bidder was Pre-Approved by DOTmed and does not pay, he can and will be Blacklisted, which is a strong motivation to pay. If the Winner Bidder used a credit card, he is liable for a penalty of up to $2000, which is also a strong motivation to pay. If the Winning Bidder, however, does not pay, the next highest bidder is then notified that he is the Winning Bidder, so your auction is still successful. If there were no other bidders, you can re-auction the item.
Q: How long do auctions run?
A: Auctions typically run for two weeks -- but you can specify more or less time, if you wish.
Q: How do I price my equipment?
A: If you run a DOTmed-Managed Auction, we will recommend a Starting Bid and minimum selling price, or Reserve price. If you are running a Self-Managed Auction, you need set these prices yourself. Check other auctions and our listings and see what others are asking for equipment similar to yours.
Q: Are auctions prominently featured on DOTmed?
A: Yes. They are featured on our homepage, and auctioned items are also posted in their appropriate equipment category ahead of all "for sale" listings.
Q: What else does DOTmed do to help me get bids?
A: In addition to featuring your equipment prominently in front of 11,000 - 15,000 people daily, we have Weekly Email Alerts that notify all users of new Auctions, and User Requested Alerts, that notify people of new postings for the specific equipment they want.
Q: Are DOTmed-Managed Auction and Self-Managed Auction Posted separately or together?
A: They're posted mixed together, and posted based in order from highest Starting Bid price to lowest, except under the "About to Close" listing, where they are posted based on the time left in the auction.
Q: How can people tell if my auction is DOTmed-Managed or Self-Managed?
A: When people look at the details of an auction, if it is a Self-Managed Auction, they will see a notice at that time saying it is a Self-Managed Auction.
Q: How do I post equipment for auction?
A: Go to Post an Auction from our home page for complete step by step instructions on running either a DOTmed-Managed Auction or a Self-Managed Auction.
Q: Which type of auction should I choose?
A: DOTmed-Managed Auctions are best for hospitals, healthcare facilities and busy people who do not have the time to deal with bidders. Self-Managed Auctions are good for people who have the time to manage all the details and after-sale logistics.
Q: Can I run more than one auction at a time?
A: Yes. You may post as many auctions as you wish.
Q: Can I post my equipment for direct sale instead of auctioning?
A: Yes, but you'll almost certainly do better by auctioning, because auctions are prominently featured, and the bidding process tends to find the "true market value" for your equipment.
Q: Can I auction my equipment and post it for direct sale at the same time on DOTmed?
A: No. That is not allowed.
Q: What is a Reserve price?
A: The minimum price you set for your equipment to be sold.
Q: Do bidders see the Reserve price?
A: No.
Q: Can I, if I want, accept a bid below the Reserve price?
A: If your Reserve is not met, you can decide to offer the item to the highest bidder after the auction closes. The highest bidder, however, is not obliged to buy.
Q: Do I have to set a Reserve price?
A: No.
Q: How do I decide what the Starting Bid price should be?
A: Look at the Starting Bids on DOTmed for similar items. If you have difficulty, DOTmed's Auction Services Department will help you.
Q: What happens when my Auction is successful?
A: If it was a DOTmed-Managed Auction, we will collect from the buyer and pay you. If it was a Self-Managed Auction, we introduce you to the buyer and you collect from that person directly.
Q: What happens if my Auction is unsuccessful?
A: We will contact you and invite you to re-post the item, possibly at a different minimum starting bid.
Q: Will DOTmed help with the logistics after my equipment is auctioned?
A: Yes, if it was a DOTmed-Managed Auction. No, if it was a Self-Managed Auction. If it was a DOTmed-Managed Auction, we can provide complete solutions regarding deinstallation, crating, shipping and reinstallation, if you request these services. These costs are typically paid by the buyer.
Questions about DOTmed-Managed Auctions only
Q: How much does it cost of post an auction?
A: Posting is FREE. We get paid only when your equipment sells.
Q: How do I get paid?
A:If your Auction is successful, we collect from the Successful Bidder and pay you before your equipment leaves your possession. If the Winning Bidder has chosen DOTmed's
BuySafe Independent Inspection Service, we will notify you, and you should not expect payment until after the Inspector has approved your equipment for shipment.
Q: How does DOTmed get paid?
A: DOTmed gets paid a commission 20% of the sale price after the equipment sells.
Q: Is a 20% commission high?
A: No. Since your equipment typically sells for a higher price than the other resale option - selling to a broker/dealer, for instance - your net profit, even after our commission, is more. And remember, these are Full Service Auctions. We do virtually all the work - and we work to sell your equipment for the best price.
Q: What if my equipment doesn't sell?
A: You don't owe us a thing; and you can repost your equipment for auction again, perhaps at a different reserve price. And please be aware, as with most auctions, equipment auctioned on DOTmed normally does not get active bids until near the end of the auction, that is the nature of the auction process. You may need to post your equipment for auction a few times until you find the starting bid that attracts buyers.
Questions about Self-Managed Auctions only
Q: How much does it cost of post a Self-Managed Auction?
A: There is a small, one-time, non-refundable set-up fee. There is also a small commission payable only if your equipment sells - this commission is lower than the DOTmed-Managed Auction commission rate. Go to
Post a Self-Managed Auction or
click here to see the one-time posting fees and commission rates.
Q: What if my equipment doesn't sell?
A: You can repost your equipment for auction again, at no additional posting charge - and you should consider setting a lower Starting Bid price. When your equipment sells, the appropriate Self-Managed Auction commission rate will apply. And please be aware, as with most auctions, equipment auctioned on DOTmed normally does not get active bids until near the end of the auction, that is the nature of the auction process. You may need to post your equipment for auction a few times until you find the starting bid that attracts buyers.
Q: How do I get paid?
A:When your equipment sells, we introduce you to the Winning Bidder and you collect from the Winning Bidder.
Q: How does DOTmed get paid?
A: DOTmed will notify you of the commission owed after your equipment sells. Payment is due immediate upon notification. If the Winning Bidder delays payment to you, notify DOTmed immediately. If the Winning Bidder has chosen DOTmed's
BuySafe Independent Inspection Service, we will notify you, and you should not expect payment until after the Inspector has approved your equipment for shipment.
Q: I have another question not answered here.
A: Then please email us at
auctions@dotmed.com or call us at 212-742-1200 Ext. 252 and we will provide the assistance you need.
Back to Auction Creation
