You’ve never bid in an online auction before and you’re wondering what you need to do. We’ve gone to great lengths to make the process simple and user friendly. So here in a nutshell is what it takes:
2) You now have an account. For you to bid on an item, you must register in the specific auction it’s offered in. To do this, simply click on the “Register to Bid” button for the auction your item is shown in. A screen will appear asking for your name, address, email, shipping address and credit card information. Fill out the form completely paying close attention to the fields with a star (required info). NOTE: Make doubly sure your credit card information is correct. Failure to enter the correct information may affect your ability to bid. You wouldn’t want to miss a bid because you transposed a number or your billing zip isn’t the same as the bank says it is!
4) You can now begin placing bids: Since you “Registered to Bid” in a specific auction, the next screen will show you lots from that auction. Simply scroll to the item you wish to bid on then click on the “Place Bid” button. Enter a bid and click “Submit Bid”. Your bid will now be entered and you will either be told you have the winning bid or that you’ve been outbid. Repeat the action until you’re satisfied with your bid entry.
5) You should follow your bids at regular intervals to ensure you are winning. Remember that most of the bids on an item come in the last few minutes. It’s good to be available at auction closing so you can increase your bid when you need/want to. Our new 345 App allows you to be anywhere, anytime and still follow the auction and place bids!
6) Be sure to check out the other screens available under “My Bids” (ALL, Winning, & Outbid) to get a complete picture of the bids you’ve placed. During the auction, these screens will help you keep track of all you’ve been doing and help you stay organized.
A Buyer’s Premium is a fee the auction house charges to the Buyer of goods to help offset the cost of bringing auction items to market. Explained in another way, an auction house has certain fixed costs of doing business in much the same way a grocery store has (lights, water, labor, etc.) Whereas a grocery store offsets, or passes on these costs in the form of higher prices, an auction firm must pass them on in the form of higher commissions or fees. One way to accomplish this is to divide the commission between the buyer and seller. Certainly it isn’t an even split, but the additional commission or Buyer’s Premium, is charged to the buyer rather than the seller. This fee allows the auction company to remain in business, allows the seller the ability to sell their items without paying ALL the commission (which would be much higher) and gives buyers the opportunity to purchase items which otherwise wouldn’t get to market. In addition, some of the Buyer’s premium is earmarked to pay the rising costs of credit card charge fees (currently 3.5%). Everyone except my mother pays the Buyer’s Premium!
Sales taxes are collected from all bidders within the borders of the State of Colorado. If you reside in Colorado and have a valid sales tax license and a signed sales tax exemption on file with us prior to the auction closing, we will not charge you sales tax. You’ll be charged sales tax for the jurisdiction where the items are sold from NOT where you live. If you are an out of state bidder, you won’t be charged sales tax.
Each auction has a list of bid increments published for your review. As the value and price of an item increases, so does the increment of the next bid. For example, lower valued items such as lawnmowers, have bid increments in the $1-$5 range while larger value items, such as vehicles, have increments in the $100-$250 range. Knowing what the next bid increment is or what it will be changing to will help with your strategy when buying. Knowing the next increment may prevent you from bidding that last time, or it may help you knowing the other guy may not want to make that next bid either! You’d be surprised how knowing that one simple trick will help you win more items.
Place a bid and if yours is the highest, YOU WIN!!! Really! Develop a strategy for your bids including how much you are willing to spend on any single item and how much you are willing to spend in an auction totally. Nothing is more embarrassing than to find you have won two $500 items only to realize your bank account only has $750 in it. Use the “My Bids” function to keep track of this information.
Regarding the actual bidding process: Select the item you want to bid on and click on the “Place Bid” button. A bidding screen will appear which gives you the option of picking the next bid increment, a larger bid on the increment scale, or a custom amount you choose (increased by at least the next increment). Select or type the amount you wish to bid and click on the “Place Bid” button. Your bid is now entered and you will be informed on the screen if you are currently the highest (winning) bidder or whether someone has placed a bid higher than yours (you are outbid). If you are outbid, you will need to enter a new bid amount in the same fashion as before. The alternative to entering a bid each time you are outbid is to determine your maximum bid and enter it into the bid amount box. In this way, the computer program will bid for you in an incremental amount higher than any other bidders until the bid goes over your maximum amount. If the bid does not reach your maximum, you will win with a lesser amount and will be very happy about it. If the bid goes over your maximum, you may still bid higher, but you’ll need to enter a new maximum amount. “Bid until you win,” is what we always say!
As in a traditional live auction, the auctioneer calls the bid until he/she has exhausted all bids and declares the item “SOLD!” The “Going once . . . going twice . . .” phrase we’ve all heard is really the “soft close” of an auction. Unlike eBay auctions and some other auction houses, few in the auction industry utilize a “hard close.” A hard close is where all bidding stops at a certain pre-defined time and any bids higher than the one received at the closing time are not recognized. This style of bidding gave rise to the term “sniping” and is usually used in a derogatory sense. Whomever has the fastest fingers or the quickest internet has a decided advantage and there are “sniping” computer programs available to help a sniper even more. NOT FAIR!
We utilize a soft close, usually with a three-minute extension of time for any bid received in the last three minutes. The extension will continue for three more minutes as long as the item is receiving bids. Once there are no bids for three minutes, the item will close.
You will be sent an invoice with all charges included (except shipping) at the end of the auction to the email address you signed up with. Instructions for payment and pickup will be included with the invoice. Entries on the invoice are all items you’ve bid on and won, sales taxes, Buyer’s Premium and any special fees if applicable. Shipping will be billed separately.
We require payment of all invoices within 24 hours of the auction’s close. If you choose to pay with cash and receive the 3.5% discount it must be done within 24 hours. After this time, ALL credit cards on file will be charged and no discounts will be given. Please be certain you’ve registered with a valid credit card and that all billing information is correct. Don’t risk losing your bidding privileges by ignoring this simple step.
The answer depends on what you’ve purchased. Larger items require you to bring a) HELP, b) carts & dollies, c) blankets & stretch wrap (if needed), d) tools for disassembly, and oh, did I mention HELP? Smaller items require boxes and packaging materials. We have boxes for purchase and newspaper to wrap items in, but any other packaging or moving tools will need to be brought by you. In addition, you should bring a copy of your receipt and a valid ID as some items require you to be of a certain age.
Delivery is available. The question is at what cost? We are in the process of securing delivery services along the Front Range (Pueblo to Denver along Interstate 25) but find there must be a minimum number of deliveries to make it a cost effective and affordable option. Call for a quote and availability.