Online machinery auction and marketplace launched

• After 20 Years of working in the agricultural and construction machinery sector George Lowis decided to start his own company
• George along with his wife Jenna incorporated Hammer Timed Ltd in August 2023 and began trading at the start of January 2024

George’s experience and knowledge of the industry combined with his passion was key in his decision to launch the business and the first auction took place at the beginning of March.

“Right up until the auction myself and the team were busy consigning lots and I was very pleased with the amount consigned. During the auction we watched the bid table closely and communicated with both buyers and sellers to achieve sales. We also had conversations after the auction to secure sales on the lots that didn’t quite make the reserve,” said George.

Any unsold lots got entered onto the marketplace which took place after the auction had finished.

The business works by customers consigning equipment to the auction and setting the reserve price.  If this is a challenge for the customer the team can do this for them by visiting the customer’s site, photographing the entries and advising on reserves and valuations.

The lots are marketed globally prior to the sale.  George said the company makes a substantial investment in marketing each month as this is key to getting good exposure and interest in the equipment listed.

“During the auction we will communicate between buyers and sellers to ensure we can sell as many lots as possible. We also hold conversations after the auction has finished to see if there is possibility of concluding the sale of unsold lots.  Any unsold lots get entered onto our marketplace where they will gain more exposure and hopefully sell,” said George.

An example is if you list a machine with a reserve of £15,000, when it sells the charge will be £299+ VAT to the seller.   The Buyer also pays £299 +Vat Buyers Premium on top of the sale price.  If Hammer Timmer Ltd do not manage to sell it there are no fees.

The aim is to establish and grow a business with the number one focus being the customer. George believes from his previous success in sales within the industry that customer service is always the most important factor to any business.

“We hope our customers will appreciate and benefit from our services we offer. Hammer Timed aim to provide a modern and hassle free platform for Customers to buy and sell equipment,” he added.

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