By Sean Delaney
BID 416 is a new option for shopping that can see consumers save an average of 70 percent on high quality materials.
“Covid shut down my other company and I just decided I’m going to buy a truck and try it. I made a huge investment in a rental company before Covid and it shut. So, I bought a truck and trailer for about $21,000 from auction,” said Scott Polley, President of BID 416. Com Auction. “It was a lot of money, and my wife was freaking out.”
Scott and his wife found their platform to participate in their first online auction however and took a big risk together. They made their money back, and more, with the first three items they put on auction.
“And it was huh, I think we found our Covid company.”
Polley operated it all out of his garage. He still had a warehouse from his previous company, and he could store items there, display four to five skids at a time for posting, and return them to safe keeping.
Sourcing products is the most difficult part, and he puts a lot of work into ensuring he finds quality items. Up against companies with contracts with billion-dollar contracts with suppliers, he is a little fish in a big pond.
“Amazon doesn’t deal with me,” Polley laughed. But that was when he was starting out.
His first big supply contract was with The Bay, and after a few successful turns, he saw more big names come calling. Today he has his own contracts with companies dealing with amazon, the Home Depot, and others.
“We’ve proven we’re going be around,” Polley said.
Clothing, shoes, and electronics are some of the more popular products. Everything starts at a dollar. There are no reserve bids. And there are no buyer’s fee. Something Polley said makes them stand out.
“What you bid is what you bid.”
Auctions are posted on their website one week in advance, generally on Wednesday or Thursday, and will close on the next Thursday.
BID 416 now offers three to 4000 items a week.
For more information, give it a try and visit: www.bid416.com
Phone them at: 416-241-0874
Or find them at: 2 Bartor Road, Unit 6.
They are open: Saturday, Sunday, Monday and Tuesday 10 a.m. to 3 p.m.