Timed Auction
Timed auctions run for a defined period of time, allowing bidders to register and place bids on items with confidence. As the auction progresses, bidders have the opportunity to raise their bid amount. When time is up, the item is declared "SOLD" to the highest bidder.
60 Seconds Time Extension
Bid placed within 20 seconds before lot ending time, the time extend to 60 seconds. Time extension will continue indefinitely until there is no more placed bid on the lot for last 20 seconds.
Lot
The term used to describe an individual item or group of items that are being offered at auction for sale as a single unit. Lot Number: The specific number assigned to a lot in an auction.
Bidder
Someone who offers to pay a particular amount for an item: In an auction.
Bidder Number
An auction bidder number is the identifying number unique to every bidder.
Estimate
Estimates and valuations are based on the condition, rarity, quality and provenance of the item, on prices recently paid at auction for similar property and on information provided by the seller. Estimates and valuations are subjective and subject to change at any time. Any estimate is only an expression of our opinion of a range within which we think the sale price at auction is likely to be rather than a valuation. Any valuation is indicative only and may not reflect the actual value of an item.
Bid Price
Bid price is the amount that a buyer is willing to pay for an item. Bid price is dictated by the system Bidding Increment Rules.
Next Minimum Bid
The bid increment, or minimum raise, is minimum acceptable amount that the Current Bid must be raised by the next bidder as dictated by the system Bidding Increment Rules.
Bidding Increment Rules
- Between $1-99 in bidding, rises in increments of $5
- Between $100-199 in bidding, rises in increments of $10
- Between $200-499 in bidding, rises in increments of $20
- Between $500-999 in bidding, rises in increments of $50
- $1000 above in bidding rises, in increments of $100
Current Bid
Current bid is the highest placed bid price.
Bid Status
- LEADING - You are the highest bidder
- OUTBID - You have been outbid, suggesting you to bid higher
- YOU WIN - Auction ended, item sold lot to you
- YOU LOSE - Auction ended, item sold to highest bidder
