Bidding can open up to 1 month before the auction and each lot closes at staggered intervals during the auction period. If a bid is received within the last 60 seconds the lot is re-opened for a further 60 seconds. Every item is sold to the highest bidder.
Before you can bid on a Time Online Auction you will need to:
1. Sign in or create an online account
Sign into your online account or create an online account, it is quick and easy to do. Save your searches, add items to a watchlist and leave pre-bids.
2. Register for the auction
You will need to register for the auction you are interested in, simply click the ‘Register to bid’ button at the top of your screen and choose your auction. Registration requirements and terms.
3. Pay your deposit
You may need to pay a deposit – if a deposit is needed you will be promoted and directed to the payment screen. Deposits are 10% of projected spend with a minimum deposit of £10,000 / €15,000/ $10,000.
4. Approved to bid
You will receive confirmation by email when you have been approved to bid. You can now login and bid.
To bid please watch our ‘How-to Bid in a Timed Online Auction’ video guide.
6. Maximum Bids
When placing a bid, the default is the Minimum Next Bid, which is based on the increments table. But the user also has the option of entering a Maximum Bid.
This is the maximum amount a bidder wishes to pay for the lot and must be a valid value, as determined by the increments table.
The system will put you in at the lowest bid possible and then bid for you (based on the increments table), up to and including the amount you specify. Your maximum bid will be kept secret, and the system will only raise your bid if someone outbids you.
You will receive a confirmation email once your bid is placed. You will also receive email notification when another bidder has outbid your maximum bid, or if you have won the lot.
7. Closing Times
The closing times set for each item will not be an exact time, but a time period in which bidding for the item is due to close, e.g. 11:52:00 – 11:58:00
If any bids are received for the item within this time range, the final closing time will be extended by 90 seconds. So instead of closing at 11:56:00, the item will remain open for bidding for another minute until 11:57:30. If another bid is received, bidding will be extended once again.
If you are the highest bidder, you will be issued an invoice. All invoices must be paid in advance before goods can be collected.
Default Increment Table