Confused by online bidding when there is a live component?
Here are some basics:
- LIVE bidding is started at the current high bid online (this may/may not be the maximum bid)
- An online high bid can be outbid by the floor
- Tie bids go to the floor
- Auctioneers’ word is final
Online bidding platforms have been around for more than 25 years, and many people have become adept at using them. But there is still confusion surrounding online LIVE bidding (as we offer here at Gateway Gallery Auction). Livestream online bidding is totally different than an online-only bidding platform.
Here are some common questions and answers to help you understand the process:
When bidding via online livestream bidding, you are competing against a live, in-house audience of 75-200 people, as well as others who are bidding live on the online platform(s), those who have left max bids via the online platform and those who are bidding via phone or absentee bid. Bidding moves quickly, back and forth between all active bidders. The auctioneer may look to his/her left (which is where our online bidding clerk sits) and prompt the live online bidder to move quickly to advance a bid. If the live online bidder fails to up his/her bid, the auctioneer looks to any in-house floor bidders for the next bid. Bidding continues back and forth between ALL active until the maximum bid is reached. When the auctioneer says “sold,” bidding ceases. In a live auction, the auctioneer’s word is final.
That is considered an absentee pre-bid. In this event, bidding BEGINS similar to traditional online platforms (think eBay)—you enter a bid BEFORE LIVE BIDDING BEGINS. Online bidding always begins at $20. If someone jumps on and outbids you in a pre-bid, you will be automatically notified that you have been outbid. At that point, you can choose to up your bid. You will continue to be auto-notified when you have been outbid. Let’s say you up your bid until you are auto-notified that you are the high bidder. (That high bid is only good for the pre-bid portion of the auction.) When the live auction begins, it doesn’t matter if you were the high bidder when your bid was time-stamped, YOUR HIGH ONLINE BID CAN BE OUTBID BY THE FLOOR or by other online live bidders when the live auction begins.
Not necessarily. It’s not about starting it at your max bid. It’s about starting bidding at the current online high bid.
No. We do not set in maximum bids.
The next business day after the auction, we will send you an invoice via email (if you live more than an hour away from our facility) or we will call you (if you live locally) to let you know you won the auction. You may choose to pick up your item(s) at our facility in Chambersburg, Pa., or you may opt to have it shipped to you.
You may pick up your purchase from 8 a.m. to 5 p.m. Monday-Thursday or by noon Friday of the week following the auction. WE DO CLOSE FOR LUNCH FROM NOON-1 PM. You may pay for your purchase at that time. We offer a 3 percent discount for cash/good check.
Our staff will pack your items and prepare them in-house for shipping via USPS or UPS . Odd sized items, oversized items or heavy items may be taken to a third party shipper. Bidder’s are responsible for paying third party shipper directly. Please allow several days after the auction for our staff to prepare your purchase for shipping. After we have your items packed, we will calculate the shipping fee and email you an updated invoice with the shipping included. At that point, we will ask for approval to charge your credit card.