This is a Timed online Auction, with no auctioneer
As a bidder, you can enter a max bid – the most you are willing to bid, using our set bidding increments and the system does the rest. We will bid intelligently for you, bidding only enough for you to meet the reserve or stay in the lead. (Exactly the same as our current commission bidding system).
Your max bid stays secret in our system. We will not share your maximum bid with the Vendor, other bidders, or anyone else for that matter. (Exactly the same as our current commission bidding)
You’ll see your ‘current bid’ when you log in and view the lot (often it will be less than your ‘maximum bid’). If someone bids higher than your maximum, we will send you an ‘outbid alert’ via email to let you know, so you can decide whether to bid more.
If a bid is placed in the final few minutes of the defined time period, the time period will be extended by a number of minutes. In our case if there is a bid in the final 2 minutes then the lot will be reopened for a further 10 mins.
This is to stop ‘sniping’ – a practice used by bidders on some other websites whereby they rush to place bids in the last few seconds to prevent other bidders being able to respond before the auction closes.
The lots will have a staggered finish with 30 seconds between when each lot is set to finish. It is important to note that bidding on lot 1 will not affect lot 2's finishing time.
It could be the case that lot 1 has lots of bidding and will remain open until no more bids can be placed, but lots 2, 3,4,5 could all sell if bids are not being placed.