30 September, 2018

Online Auction Bidding

 

How do I know the reserve price of a lot?

All of our lots have blind reserves, which means they are not visible to bidders and we do not give out reserves over the telephone.

Estimates are provided on many auctions which gives you a guide as to what we expect the lot to reach in auction.

The system will inform you whether the current bid has met reserve or not.

Each bid placed will be taken as a genuine bid and any bids at or above reserve are contractually binding. 

 

Can I remove a bid I have placed?

No – bids cannot be removed once submitted. 

 

Why has the end time on a lot been extended?

If a bid is placed in the final 10 minutes of any lot, then the clock shall reset to 10 minutes. This allows all bidders to have fair warning and place any further bids. 

This can result in a lot/auction running for an extended period of time until only 1 bidder is still participating. 

If you are unable to monitor the lot for an extended period or at the closing time, then it is recommended that you use the maximum bid feature.

Here you can enter a maximum bid you are comfortable with and allow the software to bid for you up to your max bid as required

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