As Good As Sold -- Going, Going .. Sold! -Internet Auctioneers of Laboratory Equipment

As you walk through the laboratory and pass the centrifuge you purchased just a few years ago, you realize it has already outlived its usefulness in your lab. It still spins like it did the day you rolled it in, but honestly, people could be using the machine in the lab next door. What do you do? Perhaps it's time to step up to the auction block and earn some revenue on those functional pieces of equipment that are taking up space in the lab. LabConsumer found a newcomer that is creating a niche by auctioning used and refurbished lab equipment over the Internet. In September 1997, Internet Auctioneers International (IAI; Cupertino, Calif.) launched Going, Going . . . Sold!, a unique method of selling used laboratory equipment. This service has been established to make the buying and selling process easier for both parties involved. "Our analytical instrument representatives assist in all aspects of the process," explains IAI CEO Mark Atlas. "We are a turnkey solution to buying and selling." At the time of this writing, products being auctioned included centrifuges, fume hoods, DNA synthesizers, and spectrophotometers, as well as instrumentation for atomic absorption, GC, and HPLC. What sets this service apart from other methods? IAI is a fully licensed and bonded auctioneer. Also, IAI utilizes an escrow program to protect both buyer and seller. Funds from the buyer are sent to Golden California Title Company, where the money is held for a period of 5 to 15 days depending on if the equipment is refurbished and carries warranties offered beyond escrow. If the buyer becomes dissatisfied with the purchase during this period, the buyer can submit a letter requesting the return of funds. Once an item is entered for sale, the web-site previews the item for at least ten working days. During this period, interested buyers can contact the seller indirectly. After this period, bidding takes place over a three-day period, with bids made in predetermined minimum increments. The three highest bids are displayed on the web-site. Here's how it works. Go to the Going, Going . . . Sold! web-site, enter the Sellers Room, and describe the item you are selling. That's it. Going, Going . . . Sold! will edit your description if necessary, and in a matter of days you will receive a contract. IAI representatives will work with you to determine a reasonable base price. "We are not a licensed appraiser, but based on experience with past sales we help to generate a fair market value," comments Atlas, whose staff has over 20 years of sales and customer service experience with laboratory instrumentation. Once the item has been sold, you will receive a memorandum of sale, and after the money has been forwarded to escrow, Going, Going - Sold! will manage the tactical aspects of packaging and shipping the product. So, You Want To Buy Once at the web-site, make a bid on the item of interest. If your bid is the highest, you will be notified within three days of the end of the bidding period. If you are unsatisfied with the instrument during the evaluation period, you can request to have your funds returned. As the buyer, you are responsible for a minimal escrow fee and for the cost of shipping the instrument. Roger Eggen, Manager of Analytical Instruments Limited (Minneapolis, Minn.), took advantage of this service recently. Analytical Instruments Limited is a small company that sells used and refurbished equipment primarily to companies with no funds for new equipment. "We sent IAI a list of items to be sold and they have been successful in finding buyers," noted Eggen. "It is a lot less costly and time consuming for us to have them sell the equipment than to set up our own web-site." "I've been recommending this process to my colleagues whenever the opportunity arises since we all have the same problems with equipment disposal," remarked Fred Sollish, former Manager of Procurement for Scios, Inc. (Mountain View, Calif.). Sollish sold two environmental stability chambers using Going, Going . . . Sold! and was pleased with the results. "The process that Mark Atlas has set up is extremely secure for both sides. . . .It's a great way to recycle." For more information, contact IAI at 1-408-725-0449 or www.going-going-sold.com.

As Good As Sold -- Going, Going .. Sold! -Internet Auctioneers of Laboratory Equipment

The Scientist Staff

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