The cost of restaurant equipment items purchased at auction varies and depends on item type and condition. Auction costs include the hammer price and premium, which tacks an additional 10 to 22 percent onto the final cost. The hammer price is the final bid amount received before the auction ends.
Restaurant equipment offered at auction is sold on an as-is basis, and the new owner is responsible for all repairs. Buyers are solely responsible for moving the equipment to its new home after the sale. Bidding on used restaurant equipment must be done prudently to avoid going over budget. In addition, potential bidders should thoroughly inspect items before the auction, and avoid bidding if problems are found.