Important Bidding Information
LOTS START CLOSING AT 8pm. We use “SOFT CLOSE” meaning at the 7:58pm mark a 2 minute countdown will start on the first 10 items. Similar to a traditional live auction, a live or real-time ascending price auction is a “soft close” auction with the human auctioneer declaring the item to be sold to the highest bidder once it is ascertained that no participating bidders are willing to make a higher bid.
Online bidding is automated by HiBid and the CLOSING IS LOT BY LOT with 10 to 12 lots closing at one time. As each lot closes, another will start the 2 minute countdown to close and so on. Once the closing has started each lot number will automatically have an estimated close time listed per lot. This can give you an “estimated time” if you want to check back. For example: If you are bidding on lot #100 and the auction started closing at 8pm the estimated time for lot #100 would be approximately 8:10pm (remember it is only an estimate so check back often)
As this is an auction, anyone can bid, and all bids are accepted until no additional bids come in. (the same as a traditional human auctioneer would) Please keep in mind that this is an internet auction. We do not control connections or the internet.
“BID BY BID” Bidding - In order to assist you through the online auction bidding process we allow you an additional 2 minutes to react to an increase of “bid by bid”. If you have decided to bid that way you must be watching the online auction closing.
“MAXIMUM BID” bidding - If you placed your maximum bid from the start and someone bids against you, your bid will automatically increase by increment. The end result is you win or you are outbid by someone who is willing to pay more than your maximum. Remember, it only takes one more bid to be “out bid” once your maximum is reached. So please place a bid you are willing to pay and are comfortable with.
"PENDING BIDS" - We allow an approved amount of $3,000.00 bidding per auction. If you bid over $3,000.00 in total or individual bid, your bid will register as "pending" until it is approved or declined by the auctioneer. This is a manual process please be patient.
WE HIGHLY RECOMMEND:
#1) You watch the closing of the lots starting at 8pm (7:58pm) until your lots are completely closed in order to secure your bids
#2) Place the maximum bid you are willing to pay from the start so your bid is not based on time. We do not control the internet. If your connection goes out while bidding, your maximum bid will be automated. Set a maximum you are comfortable with achieving or being out bid by. We do not recommend bidding increment by increment as other people can easily outbid you by one bid.
The live closing of these lots may continue up to 3 hours after the start of closing depending on the number of lots in a particular auction. Similar to a traditional live auction, a live or real-time ascending price auction is a “soft close” auction with the human auctioneer declaring the item to be sold to the highest bidder once it is ascertained that no participating bidders are willing to make a higher bid.
An online auction is the same as a live auction except 10 to 12 items are closing at the same time. As this is an auction, anyone can bid and all bids are accepted until no additional bids come in.
PLEASE NOTE THE BIDDING PLATFORM IS HOSTED BY Sebae Data Solutions, Inc. (HIBID) Based out of Florida.
PLEASE READ THE TERMS AND CONDITIONS OF THE AUCTION ON THE BIDDING PLATFORM BEFORE BIDDING.