Understanding the Lot Page on a Timed Sale

Within a timed sale, the lot page gives you important information about the item and sale. In the image and guide below, some sections are highlighted and explained to help you become a more knowledgeable bidder.
Timed sale bidding marked rev2

1 Quantity

A quantity is listed above the picture when the quantity is more than one.  Typically when a quantity is displayed here, the lot is times the money which means the bid will be multiplied by the quantity. You can confirm if the bid is times the money before completing your bid by reviewing the confirmation screen. Before confirming your bid, the system will do the math for you and display the total amount. If you are still unsure please call either BidSpotter Customer Service or the Auction Company running the sale to check if the item will be sold as a lot or as times the money.

2 End Time

The time displayed here shows the precise time when the lot will close. It displays the end time in both the auction’s time zone as well as in your local time zone. End times are set by the auctioneer and can differ from sale to sale. Most commonly lots are staggered to end one minute apart. If you are interested in several lots in a sale it is recommended to double-check end times for each lot to make sure you have time to bid in all of them.

Bid Extensions: Most timed auctions have bid extensions which extend the end time if a bid is placed within the last few minutes. This allows bidders to respond if they are outbid during the last few minutes an item is selling. If you were the high bidder minutes prior to the extension being added, our system will automatically send an email notifying you and prompting you to bid again. A notification is always sent any time you are outbid.

3 Buyer’s Premium

The Buyer’s Premium is the percentage of the total that will be added to your hammer price by the auctioneer. For example, if the buyer’s premium is 15%, and you win the lot for $1,000.00 the total price would be $1,150.00 before any applicable taxes. Be mindful of the buyer’s premium when deciding how much you want to bid.

4 Bidding

Here you see the current high bid and can place your maximum bid once you are registered and approved. You must place a bid above the opening price and the system will not accept bids below it. When you place your bid it will prompt you to review and confirm your bid.

Maximum bids: When you place a maximum bid, the system will enter you in at the lowest possible price and only advance the bid if someone bids against you. It is a great way to save time, especially if you are bidding on multiple items. You can win the item for less than your maximum bid if no one bids against you.

5 Reserve

This section displays only on lots that have a reserve. An auctioneer sets a reserve if there is a minimum amount they are willing to sell the lot for. If you bid below the reserve, the system will prompt you to increase your bid and the page will display no until it is met. Once the reserve has been met it will display yes in this section. All inquiries about the reserve should be directed to the Auctioneer as they set and control the reserve.

6 Auctioneer

In this section you find the contact information for the Auction Company running the sale. They use BidSpotter to list their items online and have complete control over the catalog posted. The Auction Company handles all approvals, payments, and pick-ups. Please turn to them with any questions regarding the items or what will happen after the sale. They are very knowledgeable about their inventory and their process and can help you make arrangements for the sale.

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