FAQs
Most frequent questions and answers
How to sell
At Salvage Vendor, we provide a variety of selling and service options tailored to meet your specific needs, timeline, and objectives for optimal results. We will list your assets in one or more of our sale types to maximize your returns. Here are our auction styles and their benefits:
24-Hour Speedy Online Auctions
Features:
- Quickest selling route
- Best for assets needing immediate sale
- Optimizes convenience and financial returns within a minimal timeframe
Benefits:
- Rapid turnover
- Immediate cash flow
- Minimal holding costs
Online Unreserved Auctions
Features:
- International market engagement
- Intervals: 3,7, 10, 15, or 30 days
- Starting bid: $1
Benefits:
- Attracts a wide range of buyers
- Competitive bidding can drive up final sale prices
- Flexibility in auction duration
Online Marketplace with Minimum Starting Bid
Features:
- Round-the-clock platform
- Global buyer reach
- Intervals: 3, 7, 10, 15, or 30 days
- Minimum starting price
Benefits:
- Continuous exposure to buyers
- Ensures a baseline sale price
- Longer auction periods for strategic sales
Sealed Bid Auction with Minimum Starting Bid
Features:
- Closed auction style
- Minimum starting bid
- Buyers submit offers without seeing other bids
- Intervals: 3,7, 10, 15, or 30 days
Benefits:
- Encourages serious offers
- Reduces bidding pressure
- Ensures a minimum return
Sealed Bid Auction without Reserve
Features:
- Sealed bid auction starting at $1
- Buyers cannot see other bids
- Intervals: 3,7, 10, 15, or 30 days
Benefits:
- Can generate excitement and competition
- No reserve means higher chance of sale
- Suitable for a wide range of assets
Buy Now Option
Features:
- Option for immediate purchase
- Can be combined with an auction
Benefits:
- Accelerates the sale process
- Provides certainty for buyers and sellers
- Flexibility for buyers preferring instant transactions
Each auction style is designed to cater to different asset types and seller requirements, ensuring optimal results for every sale. Contact our team to learn more about how we can best meet your needs. Our team will formulate a strategy designed to optimize you ROI.
No upfront fees or costs to start selling.
At Salvage Vendor, we sell insurance salvage on behalf of insurers around the world. You must sign up as a seller and be verified by one of our account administrators at which time a dedicated account representative will be assigned, to make sure the process is seamless. It’s a very quick and simple process done within minutes. No upfront fees or costs to sell.
Our integration process is very quick and easy, designed to fit seamlessly with your existing operations. We offer several solutions to get started:
- Fill out our online forms in your user account.
- Email us your details.
- Call us for personalized assistance.
- Integrate into our APIs to automate the process.
These options ensure that you can choose the method that best suits your needs, allowing for a smooth and efficient integration with minimal disruption.
Yes, we provide our services globally. Our multi-lingual inspection technologies, global advertising reach, and industry expertise allow us to operate efficiently in any region. This enables us to offer comprehensive asset liquidation, valuation, and disposal services worldwide, ensuring that your assets receive maximum exposure and optimal value, no matter where they are located.
Yes, we can sell assets without incurring storage or logistics costs thanks to our team of dedicated experts and our Quick Inspect AR technologies. Our loyal following allows us to sell assets on the spot with a short interval sale in most cases, without needing to move the asset or incur storage expenses. Our streamlined documentation process ensures swift execution of sales, transferring ownership and liability quickly and efficiently.
We handle all ownership transfer and titling documents to ensure a quick and efficient sale. Our team collaborates closely with asset owners to gather and organize all necessary documents according to local laws and regulations. This streamlined process allows us to execute sales swiftly and accurately, ensuring a smooth transition of ownership and liability.
For large volume sellers we do offer API integration to make for a seamless process. Please contact our customer care team.
The process to start selling in quick and easy. Our team will assist with integration of your existing process to streamline usually the same day depending on your volume. contact customer care for more information or simply sign up and our team will set you up.
Asset Valuations and Inspections
At Salvage Vendor, we prioritize quick and accurate asset valuation and inspection to streamline the selling process for our clients.
Inspection Process:
Using our Quick Inspect AR augmented reality survey/inspections, we can generate a detailed report within as little as 24 hours in most cases. The duration and level of effort required for a comprehensive inspection can vary, depending on factors such as the quantity, type, age, condition, location(s), and ease of access to the equipment units under review. Generally, a straightforward inspection is concluded within 1-3 business days after claim assignment. More intricate inspections may require additional time but usually don’t surpass 5 days.
Valuation Process:
With our Market Price Guide (GMG), we leverage our Machine Learning (ML) and Artificial Intelligence (AI)-assisted data analysis, utilizing historical and current market data, to provide an instant global market guide price for some assets. After the inspection, we can offer an instant cash price before listing at the auction for sellers looking for quick turnover.
We are committed to accommodating your specific needs and ensuring a smooth and efficient process. For any further details or personalized assistance, please contact our customer service team.
Seller Fees
The potential for a better deal depends on the quantity and type of assets you intend to sell as a package. For more detailed information and to explore your options, please simply register for a seller account where you can contact our team directly to discuss volume contracts. We are happy to explore and find a solution that fits your needs.
Our goal is to provide a value added process to our sellers and buyers. We are confident in our services to provide added-value every step of the way. Sign up as as seller to learn more about how we can help.
You will receive the proceeds from the sale within 5 business days after the buyer has made full payment. An invoice will be generated in your seller dashboard where you can download and view the details. Additionally, you can view past payments and pending payments in the queue. Payments are made via ACH or wire transfer only.
Our platform provides comprehensive reporting, sales analytics, and a KPI dashboard within your seller account, giving you full visibility at any given time. You can monitor the performance of your assets and track key metrics easily. Additionally, we can add or customize any KPIs to meet your specific needs, ensuring you have all the information necessary to optimize your sales strategy and ROI.
How to buy
Sign up and request buying privileges here. Once you are approved to buy, you will be able to bid on all SV marketplaces. If you are a reseller or have a sales tax exemption, file your certificate now on My Account Page and get through checkout faster.
Bidding from your computer is the quickest and most reliable method of bidding. You can also bid on your mobile phone for additional convenience.
Depending on their needs, sellers can list their equipment directly at the location where the loss occurred or from a storage yard or vendor facility. Whether the auction is online or otherwise, bids can be placed online so buyers from around the world can participate. Once payment is confirmed, our team can assist in connecting you with our transportation partners. We will help buyers transport items from your location or the auction site. We also give buyers access to our Salvage Vendor Network to get access to transport, repairs, storage, documentation, inspection, and other services needed with the purchase.
Yes, absolutely! We recommend inspecting the equipment to ensure its condition, as we sell everything “as-is” and “where-is,” except for assets with a SV Guaranteed icon. We also provide a quick and easy live augmented reality video inspection of the assets for transparency and confidence in bidding. You can schedule a Quick Inspect AR inspection at any time before the end of the sale. At the end of the inspection, you will receive a customized report. Please note that all assets require a waiver to be signed before being physically viewed. Everyone who will view it must provide a valid ID.
Look for the icons that state either, “No Reserve” or “24 hour Sale” in which both do not have a reserve and the highest bidder buys.
Each item has a buy fee which is clearly displayed on the asset description page typically between 10%-20% depending on the type and price of the asset. You must pay this fee in addition to the bid amount at the time of final payment. asset will not be released without full payment of the asset fee + buy fee.
Yes, almost all of them do. All you have to do is use our easy app and choose a date on the calendar to pick a day and time. Keep in mind that you can only request one complimentary 30-minute augmented reality and AI-assisted inspection for each asset. A second inspection is available for a fee of $99. During the inspection, you have the option of guiding the camera to focus on specific parts of the asset. You can also request an expert to accompany you for the inspection for a fee. Contact our team to learn more about the costs. Additionally, if you make an appointment and do not cancel at least 2 hours prior or do not show up, you lose your free chance.
How the auction works
No, we are a fully digital online auction where you can use your computer, phone or tablet to bid from anywhere in the world.
a. Only registered and approved viewers have the ability to bid online. (See SV Registration Requirements)
b. If you’ve been approved to bid, simply click the bid button to place your bid. The amount shown on the button will immediately be submitted as a binding bid.
a. Only registered and approved members have the ability to bid online. (See SV Registration Requirements)
All bidders must place a minimum $500 or 1% of high bid amount to bid on the assets.
1. You can place a deposit via credit card. Keep in mind deposits are non-refundable if you are the high bidder and do not complete the transaction. You will forfeit your entire deposit if you do not pay full balance. See terms and conditions for more details.
2. You can place the via wire transfer. Please contact customer service for info at inof@salvagevendor.com
a. When you are the leading bidder, a message will indicate that you are in the lead.
b. Conversely, if you are not the leading bidder, a message will indicate you are out.
c. When you win a lot, you will see a confirmation screen indicating the lot description and the hammer price.
You may not have paid the required $500 or 1% deposit in order to bid on the asset. Contact customer care at info@salvagevendor.com
Yes. Simply place a new bid and specify your new maximum amount. You may increase your maximum bid amount at any point during the auction, whether or not you are the lead bidder.
No. All bids placed in any GSS marketplace auction are final and binding. You can always increase, but you can never reduce or rescind your maximum bid amount.
