4-Bid takes anxiety out of auctions

by Tammy Sakry
Staff Writer

Looking for a deal on a car? Construction equipment or tools? 4-Bid.com Auction Service offers the excitement of a traditional auction with the added bonus of having 10 days to make a decision.

4-Bid.com owner Jeff Garding wants to take the anxiety out of a live auction and give his bidders a good experience with his online auction company.

During a live auction, bidders have to make a split second decision on whether they want the item and then cope with the consequences of the item’s condition, said Ramsey owner Jeff Garding.

Clients bidding on auctions with 4-Bid, located at 7060 143rd Ave., have up to 10 days to make a decision, inspect them item in person, test drive it and secure a loan, he said.

“Most of the excitement is in the last three minutes of the auction,” Garding said.

4-Bid specializes in automobiles, construction equipment, marine and recreational vehicles as well as tools.

“Anything you can put gas in or plug into the wall,” Garding said.

Before items are put up for auction, 4-Bid’s mechanics give them a once over.

“Most of the vehicles are run through the shop to make sure there is nothing seriously wrong with them,” Garding said.

Clients are informed on how the vehicle runs and if it is in a drivable state, he said.

Garding’s mechanics have also been known to have person-to-person discussions with potential bidders to answer specific questions.

“People can trust that when we say it runs, it runs,” Garding said.

4-Bid.com
7060 143rd Ave. N.W.
Ramsey, MN 55303
763-576-8051
Office hours: Monday-Friday 9 a.m. to 5 p.m.
All bidding is done online at www.4-bid.com

The five-employee business has worked to take out the anxiety of a live auction from the bidding process and create repeat customers, he said.

In the 14 months that 4-Bid has been in business, it has never got a “complaint because we are on top of our products and how (they) run,” Garding said.

“We are going for a good all-around experience for the customer,” he said.

4-Bid has about seven to eight auctions a week.

Since it opened, 4-Bid has received 10,000 bids.

“I would like to see it grow to 20,000 bids by summer,” Garding said.

 

Clients

4-Bid works with a variety of sellers.

Some of the cars, boats and snowmobiles come from private owners, but the company also works with six to seven car dealers, Garding said.

On each sale, 4-Bid receives a commission, which varies, he said.

The lower the value of the auction item, the higher the commission.

For the limited household items and memorabilia, 4-Bid receives up to 15 percent, Garding said.

When it comes to large pieces of equipment, like semi-trucks and backhoes, the commission is around 7 percent.

From the leisure of a home computer, a bidder can browse the auctions and bid.

For the first-time bidder, the process is an easy three click, Garding said.

Winning bids have to be paid for and picked up two days after the auction.

With its car dealer’s license, 4-Bid can transfer vehicle titles when the bidder picks up the vehicle, Garding said.

 

Estate sales

While 4-Bid specializes in vehicle sales, Garding said the company is considering doing estate auctions.

4-Bid offers families a way to settle the sale of estate items by taking out the emotional attachment, Garding said.

In situations were there is a dispute on the price of a item, putting the item up for public bid will set the fair market value, he said.

If family members want to bid on the item at fair market value, they can be the last bidder, Garding said.

“It settles things fairly,” he said.

The company also has the occasional furniture and household auctions, which are dependent on the vehicle sales, Garding said.

Tammy Sakry is at tammy.sakry@ecm-inc.com


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