It’s worth noting that Abdulla Fouad Company for Public Auctions in Dammam holds no fewer than 12-16 public auctions annually in its own auction hall. We also hold other auctions at other companies’ auction halls upon their request, and also conduct sealed bids or video screenings in a closed hall, depending on the business’s requirements.
Auctions are the fastest and most successful way to sell all types of surplus materials, equipment, and machinery in a well-thought-out, economical manner.
- Auctions are adopted by the world’s leading companies in the disposal and sale of surplus property and consumables of all kinds.
- Auctions save significant expenses and costs, as they convert the offered merchandise into immediate cash immediately after the sale.
- Auctions market products to the largest number of affluent participants and allow for the largest possible number of them to be present in one place at the time of sale, maximizing returns. This is achieved by advertising the auction in general in many ways, which will be explained later (ads).
- Auctions are the ideal and only way to obtain actual and prevailing market prices, and they preserve the owner’s financial rights for all types of offered merchandise, regardless of their type.
Steps to Start Bidding
- Registration: Visit the auction company’s official office. Fill out the registration form with your personal or business information. Submit valid ID (e.g., national ID, Iqama, or commercial registration for companies).
- Verify Identity & Submit Documents: Upload or present identification documents for verification. Some auctions may require a bank guarantee or refundable deposit to qualify for bidding. Accept the auction terms and conditions.
- Receive Bidder Number & Access Catalog: Once approved, you’ll receive a unique bidder number. You can now view the auction catalog, inspect items, and participate in bidding either online or on-site.