Comprehensive surplus asset management company EquipNet Inc. (equipnet.com) has launched a revolutionary new sales channel, OWN IT NOW. The platform currently features hundreds of assets valued at $4 million USD, which will be available through the coming months. Inventory includes a wide range of equipment, such as, Lab and Analytical Instrumentation, Processing and Packaging Equipment, MRO and more.

OWN IT NOW takes away the hassle of back and forth negotiations and allows prospective buyers to purchase items with the simple click of a button. The listings in the channel have starting prices and decreasing time intervals which are tied to price drops. As the clock ticks down, so does the price.

Managing Director, Tom Noonan, states “Own It Now introduces a revolutionary sales channel that shakes up the format of a traditional Dutch auction with an innovative twist that allows buyers to instantly win equipment, while prices drop and the clock ticks down”.

The OWN IT NOW sales channel differs in comparison to other EquipNet platforms such as SmartAuctions™, Live/Webcast auctions and MarketPlace™, as users will not be competing to outbid each other. Instead, they are competing against the clock and other prospective buyers. With OWN IT NOW, users can buy items at the current price or wait for the amount to drop at the risk of losing the item to a competitor. EquipNet allows users to set proxy amount on all listings so that they system will OWN IT NOW on his or her behalf once the pricing gets down to the given entered proxy amount.

This innovative sales channel brings new value to the second-hand equipment industry and provides companies with a new way to purchase pre-owned equipment.