MSA ScrapSite Launches Open-Bid Auction

MSA ScrapSite, a subsidiary of Management Science Associates, Inc. has successfully launched a new Internet transactional commerce system, “Open-Bid Auction.”  

 “We’re pleased to announce that, based on recent successful live, online open-bid auctions of various scrap products , we have given industry participants another powerful sales and buying tool,” said Ralph L. Pinkert, senior vice-president of MSA ScrapSite. “Now, with our new Open-Bid Auction e-commerce option, in addition to our confidential Sealed-Bid Auctions and private Negotiated Sales, we offer scrap metal processors and prompt industrial scrap generators more ways to maximize marketing reach and revenues by initiating sales at any time online.” 

 “Buyers who regularly participate also benefit by having access to more scrap procurement opportunities and a better understanding of actual current regional market prices, in order to buy raw materials more cost-effectively,” Mr. Pinkert added. He said the Open-Bid Auction tool had been particularly successful in selling Nonferrous Shredder Residue (NFR).

Open-Bid Auction, like all other MSA ScrapSite sales and buying transactional commerce methods, has been designed for the scrap metal industry.

In any of MSA ScrapSite’s online auctions, potential buyers’ names are not identified to anyone, and sellers see only the names of successful bidders after an auction closes. Unlike a confidential Sealed-Bid Auction, during an Open-Bid Auction, everyone authorized to participate can see the quantity and price bid.