How the Site Works

Mine Source Auctions’ expertise is in selling surplus equipment for mining companies. Mining companies don’t have the buyer networks Mine Source has developed over the years and in many cases, they’d just scrap the equipment. Using our innovative online auction, we are able to not only sell the surplus – but get them good value for it. It creates a new revenue stream and a sense of corporate responsibility and transparency. In addition, buyers of equipment are now able to bid and purchase equipment they were unaware of or did not have access to in the past. It creates a win-win opportunity.

1. Potential buyers browse the equipment listings.

2. If you wish to bid on an item, you must Sign Up.

There is no cost to register. Sign up HERE. You will be asked to read and agree to the Terms and Conditions. Once you have completed the simple one-step registration your account will be validated by a Mine Source Auctions representative. The validation may take 1 – 2 business days so please sign up well in advance of an auction closing. Once validated you will be able to bid on any item.

3. Stay up to date with the free newsletter.

New equipment is added to the site on a continual basis, usually Wednesday mornings. A free weekly newsletter is sent out to inform buyers of new equipment being listed – sign up HERE for the newsletter.

4. Alert Me Function

Should you wish to monitor certain auction items without having placed a bid, simply check the 'Alert Me' button for that particular item. You are agreeing to receive two emails from Mine Source Auctions pertaining to each auction item.

Email #1: When the auction is triggered/begins.

Email #2: A reminder the morning the auction closes. You may sign up to monitor as many items as you wish. This is a free service.

5. Opening Bid

Each piece of equipment has an "Opening Bid" price - you must bid this amount or higher to begin an auction.

Every piece of equipment will be listed as "Opening Bid Required" until a registered bidder places an "Opening Bid". The "Opening Bid" will trigger the start an auction for that piece of equipment.

That auction will remain open for bids for the indicated amount of time, usually 10 business days. Should you be outbid, you may continue bidding until time runs out. Your screen will indicate whether "You are the high bid" or "You DO NOT have the high bid." You will also receive an email stating you have been outbid.

Please take note of the equipment location. Equipment locations vary.

All equipment is sold "As is; where is". No guarantees or warranties and buyer is solely responsible for transport of equipment.

6. Auctions will close at 2:00pm Eastern Standard Time on the day indicated.

7. Extended Bidding:

If a bid is received during the final 3 minutes of an auction, the auction will extend for an additional 3 minutes. 3 minute extensions will continue as long as bidding continues.

8. Inspecting Equipment

Onsite inspections are encouraged and can be arranged by calling Mine Source Auctions at 705-671-2100 or email info@minesource.com. Please arrange a site inspection well in advance of the auction item’s closing date and time.

9. AutoBid

We understand you can’t always be at a computer at 2:00pm EST the day of an auction closing. No problem, you can place an AutoBid.

How does it work?

AutoBid will automatically bid on an item on your behalf by minimum increments. AutoBid will ensure you are the highest bidder at the lowest possible amount. Once the system reaches your maximum "AutoBid" amount, it will no longer place bids on your behalf. You can rest assured that when you place your maximum AutoBid amount, it is confidential information and not revealed to other bidders.

What if two buyers place the same "AutoBid"?

The system will notify the second bidder that an "AutoBid" has already been accepted at that amount and they must increase their "AutoBid" amount.

10. Make an Offer

You may offer the owner a value lower than the Opening Bid amount. The owner has three (3) business days to accept or decline your offer. Your offer is legally binding for the three (3) business days. Should the owner accept your offer within three (3) business days, your offered amount will become the new Opening Bid amount and the auction will commence. You will be notified via email should your offer be accepted or rejected. Should your offer be accepted, the auction will proceed as per usual, remaining open to further bidding for ten (10) business days.

11. Special Vendor Approval Required Auctions

Auctions identified with this emblem  require the bidder to contact Mine Source Auctions for approval to participate in this particular auction. Generally these items require additional work to dismantle and/or load, requiring you, the bidder or your contractor, to follow site specific rules and regulations.

To participate in these auctions, please call Mine Source Auctions at 705-671-2100 or email info@minesource.com to learn about the site specific rules and regulations.

Other than this additional approval process, these auctions run in the exact the same way as ordinary auctions.

12. Should You Win an Action Item

You will be contacted by a Mine Source Auctions representative to process payment and work out logistical details.

Payment, plus applicable taxes, must be made to Mine Source within five (5) business days of an auction closing and can be made via wire transfer or certified cheque. Other than applicable sales taxes, no other fees are charged. Payments must be received in full prior to removal, loading and/or shipping.

13. Transportation and Loading

The auction winner is solely responsible for the loading and transport of equipment. Auction items are sold 'as is; where is'. Mine Source Auctions can provide buyers with a list of third party Transportation Companies, Freight Forwarders, and/or Customs Brokers for domestic or international shipments.

14. Items for Export

If your item is for export, you will be required to initially pay all local applicable sales taxes. Once the item has been exported out of the country, the buyer is responsible to send Mine Source Auctions export documentation as proof the equipment has been exported out of the country. Once received, Mine Source Auctions will reimburse the HST/GST tax amount.

15. Need more assistance?

You can always speak with a Mine Source Auctions representative who will assist with any questions you may have. They can be reached at 705-671-2100, Monday through Friday from 9 a.m. to 5 p.m. EST or email info@minesource.com