How TradeAssets Works

Your complete guide to buying and selling industrial equipment online

Simple, Secure, Transparent

TradeAssets connects buyers and sellers of industrial equipment through real-time online auctions. Whether you're looking to purchase quality used machinery or sell your surplus equipment, our platform makes it easy, safe, and efficient.

1

Register & Verify

Create your account in minutes. Sellers undergo quick verification for trust.

2

List or Bid

Sellers list equipment with photos. Buyers place competitive bids.

3

Complete Transaction

Highest bidder wins. Connect directly to arrange payment and pickup.

For Buyers: Finding Your Perfect Equipment

1

Create Your Buyer Account

Getting started is quick and free. Click "Register" in the top-right corner, choose "Buyer" as your role, and fill in your basic information: name, email, phone number, and a secure password. Verify your email address, and you're ready to start bidding!

Pro Tip: Complete your profile with your company name and business details. Sellers are more likely to work with buyers who have complete, professional profiles.

2

Browse & Search Equipment

Explore our marketplace using multiple methods:

  • Category Browse: Click on equipment categories (Heavy Machinery, Power Tools, etc.)
  • Search Bar: Type keywords like "excavator," "generator," or specific brands
  • Filter by Location: Find equipment near you across Malaysia's 16 states
  • Sort Options: By price (low to high), ending soon, newly listed

Each listing shows clear photos, detailed descriptions, equipment specifications, condition, location, current bid, and time remaining in the auction.

3

Inspect Before You Bid

We strongly recommend inspecting equipment before placing bids. Unlike online shopping, industrial equipment varies greatly in condition. Most sellers welcome inspections:

  • Contact the seller using the phone number or email in the listing
  • Schedule a viewing appointment at the equipment location
  • Test functionality if possible
  • Check for wear, damage, or missing parts
  • Verify serial numbers and ownership documents
  • Ask about maintenance history and operational hours

Remember: All sales are final and "as-is." Thorough inspection is your best protection. If something seems too good to be true, investigate further before bidding.

4

Place Your Bid

Ready to bid? Here's how it works:

  1. Enter Bid Amount: Must be higher than current price + minimum increment (usually RM 100-1000)
  2. Review Details: Check auction end time, reserve price status, and seller terms
  3. Confirm Bid: Click "Place Bid" - remember, all bids are legally binding
  4. Watch Auction: See real-time countdown timer and bid updates

Automatic Notifications: Get instant email alerts when you're outbid, so you can decide whether to bid higher.

Binding Commitment: By placing a bid, you're making a legally binding offer to purchase. If you win, you must complete the transaction. Bid responsibly!

5

Win the Auction

Congratulations! If you have the highest bid when the countdown reaches zero, you win. Here's what happens next:

✓
Immediate Notification: You'll receive an email confirming your win with the seller's contact information
✓
Contact Seller (24 hours): Reach out within 24 hours to discuss payment and collection
✓
Arrange Payment: Agree on method (bank transfer, cashier's check, etc.) and timeline
✓
Complete Transaction: Transfer funds, obtain receipt, and collect your equipment
6

Payment & Collection

Complete your purchase safely:

✓ Safe Payment Methods:

  • • Bank transfer (most common)
  • • Cashier's check or bank draft
  • • Company check (B2B)
  • • Cash (small amounts, public places)

✗ Never Use:

  • • Western Union / MoneyGram
  • • Cryptocurrency
  • • Wire transfers without verification
  • • Cash without meeting seller

Collection: Coordinate pickup time, bring necessary transport, and verify equipment matches description before leaving. Obtain all documentation including receipts, manuals, and service records if available.

For Sellers: Reaching Thousands of Buyers

1

Register & Get Verified

All sellers must be verified to maintain trust and safety on our platform:

  1. Register with "Seller" role and complete your profile
  2. Upload business registration (SSM/ROC/ROB)
  3. Provide identity verification (IC/Passport)
  4. Submit business address and contact details
  5. Wait 24-48 hours for admin approval

Verification Badge: Once approved, you'll receive a "Verified Seller" badge displayed on all your listings, building buyer confidence and increasing bid activity.

2

Create Professional Listings

High-quality listings attract more bids and higher prices. Include:

Equipment Information:

  • • Make, model, and year
  • • Serial number and specifications
  • • Condition (excellent, good, fair)
  • • Operational hours (if applicable)
  • • Maintenance history
  • • Known issues or defects

Photos (5-10 recommended):

  • • Clear, well-lit images
  • • Multiple angles and details
  • • Close-ups of wear or damage
  • • Serial number plates
  • • Operating controls
  • • Any accessories included

Success Secret: Listings with detailed descriptions and 5+ photos receive 3x more bids and sell for 15-20% higher prices on average. Invest time in your listing!

3

Set Your Pricing Strategy

Choose auction parameters that maximize your sale price:

Starting Price: Set attractively low to encourage early bidding activity. Competitive bidding will drive the price up.
Reserve Price (Optional): Set minimum acceptable amount (kept confidential). If bidding doesn't reach reserve, you're not obligated to sell.
Auction Duration: Choose 3, 5, 7, 10, or 14 days. Longer auctions reach more buyers but delay your sale.
Minimum Bid Increment: System suggests appropriate increments based on starting price (typically RM 100-1000).
4

Manage Your Auction

Once your listing is approved and live:

  • Monitor Activity: Watch bid count, viewer statistics, and current price in your dashboard
  • Answer Questions: Respond promptly to buyer inquiries - builds trust and increases bids
  • Allow Inspections: Welcome buyers to view equipment - serious buyers always inspect first
  • Real-Time Notifications: Get instant alerts for new bids, questions, and auction status
5

Close the Sale

When your auction ends with a winning bid:

  1. Contact Winner (24 hours): Reach out to arrange payment and collection details
  2. Verify Payment: Ensure funds clear before releasing equipment (3-7 days typical)
  3. Coordinate Pickup: Schedule convenient time for buyer to collect equipment
  4. Provide Documentation: Give receipt, manuals, service records, and any warranties
  5. Platform Commission: TradeAssets invoices 2-5% success fee based on final sale price

After successful completion, both parties can leave feedback ratings, building reputation for future transactions.

Safety & Best Practices

Do's

  • ✓ Always inspect equipment before bidding
  • ✓ Verify seller identity and business registration
  • ✓ Use secure payment methods with receipts
  • ✓ Meet in safe, public locations when paying cash
  • ✓ Document everything with photos and written agreements
  • ✓ Read listing descriptions carefully
  • ✓ Ask questions before placing bids
  • ✓ Check equipment condition in person

Don'ts

  • ✗ Never send money without verification
  • ✗ Don't use untraceable payment methods
  • ✗ Never skip inspections for expensive items
  • ✗ Don't share sensitive financial information publicly
  • ✗ Never proceed if something feels suspicious
  • ✗ Don't bid more than you can afford
  • ✗ Never complete transactions off-platform to avoid fees
  • ✗ Don't ignore red flags or trust blindly

Ready to Get Started?

Join thousands of contractors and businesses trading equipment with confidence on TradeAssets Malaysia

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