How to Bid in a Timed Auction

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  • Опубліковано 26 січ 2021
  • Bidding in Timed Auctions takes place only online. The auction runs for a set period of time and shows the current highest bid (note this is not the maximum bid). The bidder with the highest bid when the countdown timer ends wins the auction.
    Any bids placed in the last minute extend the entire auction by two minutes. This gives underbidders the chance to place a counter bid on any lot in the auction.
    1. Find the Timed Auction in which you wish to bid.
    2. Register for the auction.
    3. Then simply enter your 'Maximum Bid'. If there are no other bidders, you will buy the lot at the starting bid. However, if there are other bidders, your maximum bid will automatically bid against them until one of you has the highest bid. Bidding follows a set pattern of 'bidding increments'.
    4. You will be notified if you have been out bid and given an opportunity to counter the other bidder.
    5. Any bids placed in the two minutes extend the entire auction by two minutes so that everyone has a chance to bid again.
    6. The winning bidder is notified by email of their success and provided with instructions on how to complete the payment.
    For more information
    bids@theauctioncollective.com

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