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Internet
Bidding Help |
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| Internet Bidding Types |
| Absentee bidding |
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Absentee bidding is the method
of placing bids on auction items prior to the start of the auction. This
allows buyers a method to bid on auction items when they are unable to
attend the auction. Your bid will be used to place bids for items on
your behalf even though you are not there.
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| Internet-Only
Bidding |
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Internet-only bidding is
similar to absentee bidding with the exception that there is no live
auction. Your bid will be used to place bids for items on your behalf
against other bids. |
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| Minimum Bid Types |
| Public Bid |
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In public bidding, the current
bid(s) are used to determine the minimum bid amount. The minimum bid
amount must be met or exceeded when placing a new bid.
For example: If Lot#1 opens bidding at $10, and Bidder A bids
$100, the system will then update the minimum bid to be $15. If Bidder B
comes along and bids $15, the system will automatically put Bidder A
back in at $20 and raise the minimum bid to $25.
The actual minimum bids will be dependent on the auctioneer's bid
increment schedule. |
| Sealed Bid |
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In silent bidding, existing
bids are NOT used to determine the minimum next bid. Existing bids have
no effect on the minimum allowable bid when placing a new bid. |
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| Bid Amount Types |
| Maximum Bidding |
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In maximum bidding, the bid amount you place
represents the maximum amount that you are willing to pay for this item.
Your maximum bid will be used to bid on your behalf until you win the
lot or until bidding has exceeded your maximum
bid amount. |
| Fixed / Flat
Bidding |
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In fixed / flat bidding, the
bid amount you place represents the actual amount that you are willing
to pay for this item (not the maximum). Your fixed bid amount will be
used to bid on your behalf. |
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| Times The Money |
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Times the money bidding allows
you to bid per piece when a lot has a quantity greater than one. For
example: if you are bidding on folding chairs, and there are 10 folding
chairs, you can place your bid for $5 times the money, meaning your
total bid is for $50 ($5 x qty of 10). When a lot has times the money
bidding enabled it will clearly be labeled and you can choose to place
your bid times the money or you can bid a total amount for the whole
lot. |
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| Soft Close |
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A "Soft Close" ending for a
lot means that if a bid is placed in the last few minutes, the bidding
for that lot will be extended by another few minutes. This gives other
interested bidders time to raise their bid before the lot closes. The
Soft Close option is typically used for Internet-Only auctions.
A "Linked Soft Close" ending for a lot is
just like a regular soft close except that multiple lots are linked
together so that if one lot has its bidding extended, all the other lots
that are linked will also have their bidding extended. |
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| Reserves |
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A reserve is a minimum price
that a lot must achieve to sell. Some lots may display the status of
their reserve: Reserve Met or Reserve Not Met. The absence of this
message does not necessarily indicate that a lot does not have a
reserve. The option to display reserve status is decided by the
auctioneer. |
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| Miscellaneous |
| What if I'm not registered with Auction Flex? |
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You must register with Auction Flex to
leave Internet Bids. |
| What if I'm not
registered for the auction? |
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Most auctioneers require you
to register for the auction. If you have not registered for the auction
at the time you're placing a bid, Auction Flex will walk you through the
registration process automatically. You must register for each auction
to be able to bid. |
| Do I need to be approved to bid? |
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Yes. The Auctioneer can approve or reject your signup for
their auctions at their discretion. Being rejected from bidding on one
auction does not necessarily mean that you will be rejected from signing
up for other auctions.
The time it takes to approve you for an auction depends on the
auctioneer. Some auctions are setup to automatically approve bidders,
eliminating the need for you to wait. |
| What
happens when I submit a bid for an auction that I'm not already approved
for? |
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If the auction is using
sealed bidding, then your bid is held in pending
status until the auctioneer reviews the bid and either accepts it or
rejects it. The auctioneer might contact you to arrange for a deposit,
get payment information, or just verify your information.
If the auction is using public bidding, then a request will be sent to the auctioneer to approve
you for that auction. Your bid has NOT been saved. Once you are approved
you will then need to go back to the website and place your bid.
To review the status of your current bids
go to the Current Bids link from buyer account maintenance.
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| How do I check on my bids? |
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Your bids can be viewed by logging into your account and
clicking on the bids link next to the appropriate auction. |
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