How does a live online auction work?

How does a live online auction work?

Explanation: A Live Online Auction is a combination of a Live and Internet Auction. An online clerk will relay your bids to the Auctioneer and you will bid against floor bidders who are at the auction and other online bidders. Typically you can bid via computer two ways. You can leave prebids (Like an Absentee Bid.

How do you bid on an online auction house?

Guide to buy online

1. Look to our website.
2. Register to bid.
3. Conditional or unconditional sale.
4. Open day viewing.
5. Guide price and reserve price.
6. Determine your bid.
7. Legal Process.
8. Ways to bid.

When should you bid on online auctions?

A good strategy for winning an online auction is to bid when other people are busy doing something else. Some of the best times include early mornings when people are getting ready for work, late afternoon as they are commuting home, and the middle of the night.

How do online auction bids work?

The bidding for each auction closes at the scheduled time. In the case of sales of multiple lots, the participants with the highest bids at the close of the auction are obligated to buy the items. If no one bids at or above the reserve price, the auction closes without a winner.

Can you bid on behalf at auction?

If you want someone else to bid on your behalf, they must give the auctioneer written authority from you before the auction starts. The letter must include your name, address and details of proof of identity, such as your driver’s licence or passport.

Can you bid on your own auction?

No it is absolutely not legal!! It is one of several different forms of “shill bidding” and is a form of fraud. That being said, I know for a fact that it happens far more than it should.

How much deposit do I need at auction?

10\%
In New South Wales, a 10\% fixed deposit is required unless otherwise stated, which can be paid by a personal or bank cheque, cash and other methods by arrangement between all parties.

How do you do a shill bid?

Shill bidding is intentionally fake bidding by a seller on his/her own auction to inflate the final price. This can be accomplished either by the seller himself/herself or by someone colluding with the seller to place fake bids on his/her behalf.

How much does it cost to start an online auction?

The creation of online auctions of medium complexity costs around $5000-10000 and $1000 per month for maintenance. Such websites are ideal for the majority of niches and countries, however, they can’t compete with market leaders such as eBay or Etsy.

How do I bid in an auction on liveauctioneers?

To actively bid in an auction on LiveAuctioneers, you must register first by clicking ‘Register for Auction’ on catalog and item pages. You may also place absentee bids in advance of the auction time, which doubles as registration requests if you’re not already approved.

How do I get a bidding number for an auction?

Pre-register and get a bidding number. Most auctions today require that anyone intending to bid be pre-registered with the auctioneer and assigned a bidding number. This bidding number is usually written on a card that the bidder can hold into the air, signifying to the auctioneer of the intent to bid.

What is the best way to win an auction?

It should be the unmatched and highest unique bid until the time auction closes to win the item. Wait for someone else to bid. If someone else places a bid higher than yours, then immediately place a unique bid to supersede theirs.

How do you bid on a house without bidding?

Steps Attend a few auctions without bidding. Inspect the items or property prior to bidding. Speak to the auctioneer well in advance of the auction if you have questions or need clarifications. Get there early. Pre-register and get a bidding number. Be clear when making bids. Have transportation ready or be prepared to pay for delivery.