User's Guide
About Trading Online
KeyAssets.com provides an Exchange venue. The Exchange allows a seller to set his asking price and consider all offers, usually over an extended period of time. Offers are anonymous but additional information can be obtained through a question and answer forum. There are safe procedures set out in KeyAssets.com's Transaction Rules for completing a sale at the successful conclusion of a Sale.
In an Exchange, a seller specifies the Asking Price for an item at which he/she is willing and obligated to sell. The first buyer to offer the Asking Price wins the opportunity to purchase the item. The seller, however, may accept at any time a current offer that is lower than his/her Asking Price.
The Asking Price in an Exchange is the exact price at which a seller is willing and obligated to sell an item. The Asking Price gives the seller the ability to stimulate offers and to determine what the fair market value of an item really is. If a seller finds that their Asking Price is too high, the seller may decide to accept a current offer lower than the Asking Price.
KeyAssets.com will not accept any offers from buyers for less than the Minimum Offer. This amount is typically 25% to 75% of the Asking Price as determined by the seller.
The Current Offer is the highest offered price placed on an item to date.
The Bid Increment is a predetermined dollar amount chosen by the seller for calculating the minimum next acceptable offer on an item. Bid Increments streamline the Trading Exchange process for buyers and ensures that transactions are not hindered by small incremental offers. KeyAssets.com will only accept offers at dollar amount intervals calculated using the Bid Increment.
Unless otherwise stated, all items are listed in US dollars. Features will be introduced to allow items to be listed in other currencies : Japanese Yen, Euros and GB pounds.
Making An Offer
You must be a registered member in the KeyAssets.com marketplace to make an offer on items listed for sale. Browse Only members cannot participate online in the offer process but can still request quotations for any item for sale.
Buyers do not pay any Transaction fees, unless indicated on quotations.
KeyAssets.com's marketplace endeavors to fully document the equipment condition, history, and current configuration, including photo's, to avoid a costly pre-purchase inspection process. Buyers may post questions to obtain further information on any listed item. Buyers and Sellers remain anonymous until after the online sale closes. The Buyer may inspect the item after making the required deposit to Keyassets. He/She may withdraw their offer but not change it, if inspection reveals that the seller materially misrepresented the listed item. The Buyer must inform KeyAssets.com of the results of his inspection and reasons for rejection to claim return of his/her deposit.
Yes. Each equipment listing includes a question and answer forum where buyers and sellers may communicate anonymously. You may ask a seller a question about his listed item at any time, before or after making an offer for it. Questions and answers are posted for all buyers to see. To post a question or to see all the other questions and answers about a listed item, open the listing and click on the "Ask the seller a question about this tool" button.
You must be a registered member in the KeyAssets.com marketplace to make an offer on an equipment item. Browse Only members cannot make an offer.
Login and find the equipment item you would like to make an offer for. Click the "Make Offer" button. On the Bid page enter the email address you are registered under and your chosen password. Select from the predefined list the dollar amount you would like to offer. In an Exchange, if you wish to end the sale and purchase the item immediately then select the seller's Asking Price which is the highest dollar amount available.
All offers will be in the currency in which the item has been listed.
In an Exchange, the buyer selects the expiration date (Wednesday's only) for his or her offer. Offers must be valid for a minimum of 7 days. Note : although your offer may be superseded by a higher offer, it will remain valid until the expiration date. The higher offer may expire before your offer, in which case your offer may once again become the current highest offer.
Offers are binding and cannot be retracted or decreased. They may be replaced with a higher offer. Offers do expire in an Exchange.
After A Successful Offer - The Sale Transaction
Although not a party to the sale contract, KeyAssets.com has developed procedures to facilitate secure and reliable transactions. When an exchange closes successfully, KeyAssets.com initiates the sale transaction process via email. The required steps are set out in the Transaction Rules and are conveniently summarized in the Transaction Chart.
Payment is made in accordance with the Transaction Rules which are conveniently summarized in the Transaction Chart.
The KeyAssets.com Services tab takes you to a comprehensive list of service providers. If you do not have a preferred service provider, you can locate those in your region and view the list of services offered.
Want Ads
Buyers may post a Want Ad for specific equipment they are looking to buy. Buyer Want Ads are compiled into a "Want List" reviewed by the owners of equipment not yet posted for sale.
Any Browse, Full or Service Provider member can post a Want Ad.
No, there is no fee for posting an item you wish to buy.
In the Buy Equipment, Want Ads or My Page area of KeyAssets.com, simply click the link for "Post Want Ad" and enter as much equipment information as you can. New Want ads are immediately posted on the Want List.
If a Seller sees your Want Ad and has the exact or a similar item, he or she may list the equipment item directly to the Exchange. Once this occurs, KeyAssets.com will contact you via e-mail and let you know that an item matching your request has been listed.
No, you are under no obligation to purchase the item unless you make an offer for the item and your offer is accepted.
Want Ads are posted for 60 days. After 60 days, the Want Ad expires. Any modification of the Want Ad will reset the 30 day counter. In this way you may repost again and again any Want Ad which may have expired.
Listing Equipment
You must be a registered member in the KeyAssets.com marketplace to list items for sale. Browse Only members cannot list items for sale.
Listing is typically FREE. Depending on your Membership type and the outcome of the sale, Listing Fees may apply. Sellers are charged a Transaction Fee for a successful sale. See our Fee Schedule.
Login to "My Page" and go to "Post Equipment". Enter a title, original equipment manufacturer, and appropriate process category for your equipment listing. KeyAssets.com requires that all equipment listings be well documented with a detailed description and attached photo(s).
On the equipment edit form, click "Attach Photo" to upload any photo's or files documenting the equipment. The first photo you attach will become the primary photo buyers see. You may attach as many photo's, files, or web pages to your equipment listing as you feel are necessary to document the item.
On the equipment edit form, click "Add Features" to create as many feature lists as you wish for your equipment or one of its parts.
If you have 2 or more of the same item for sale, you must post each item seperately as individual listings with different serial numbers. There is also currently no batch posting facility for posting more than one item at a time.
Unless otherwise stated, listings and offers are in US dollars. The Make Offer page allows buyers to convert to other currencies : Japanese Yen and Euros. Offers are still in US dollars.
Your listing is not posted to the live exchange until you thoroughly document the equipment item with attached photo's, feature lists, and description.
No. Please be sure to document your equipment before posting to the live exchange. If you wish to make changes or there is an error in the listing, please contact keysupport@keyassets.com.
A listing can only be withdrawn under certain circumstances as set out in the Listing Rules.
In an Exchange a seller may, at any time, accept an offer lower than the Asking Price by clicking "SELL" in the "LIVE" column on My Listings page.
If the asking price in an Exchange is not met and the seller does not accept a lower offer, then the Seller will be sent an email reminding them of the sale results and the highest offer price. The item will automatically revert to "Pending" status at the end date for the listing. The Seller has the option to re-list the item as "Live" with KeyAssets.com. Re-listing is simple:
- Select the My Page tab and log in
- Go to My Equipment "Pending" button
- Locate the item in the list
LI>Select the edit button.
- Consider modifying the price, or adding information to facilitate a successful sale.
- Select Go Live, and the item goes live immediately.
If the seller no longer desires to list this item for sale at KeyAssets.com, they should delete the item from the Exchange.
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