This is the final instalment of a two part series. Click here to read part one.
Online bidding is a convenient and easy way to buy items at Phoenix auctions. Although certain features may differ slightly from one auction to another, the overall process will be very similar. By following some simple guidelines, you can bid successfully before and during the auction. When you bid carefully, you can take advantage of the great deals auctions have to offer.
Bidding Online at Phoenix Auctions
Online bidding at Phoenix auctions generally can be done using two methods:
Proxy Bidding
Usually one week prior to a live auction, the auction lots are available for online bidding. If an item has no previous bids, the bid you’ll enter will be higher than the starting price. If others have already bid on the item, you’ll enter the next required bid amount and a maximum bid amount, if desired. The required bid amount will be displayed on the screen.
If you enter a maximum bid, this amount will be the highest dollar amount you are willing to pay for the item. If your maximum bid is lower than another bidder’s, you will be notified online immediately after you place your bid that you have been outbid. You can then decide whether to increase your maximum bid amount. You will be e-mailed any time you are outbid during the time preceding the live auction.
Auction Bidding
Online bidding can either be concluded prior to the live auction or be done as simulcast bidding where you bid in real time with the live audience. In Phoenix auctions that close online bidding prior to the live event, your bid (and maximum bid if you entered one) will be represented by an auction house staff member. Your highest bid will be the starting point for bidding at the live auction.
If nobody in attendance places a higher bid than your current or maximum bid, you win the item. If a live bidder places a higher bid than your maximum, you are outbid. The auction service will keep you informed throughout the event via e-mail. Your status on all bids will be updated either indicating your were outbid or you won. Paid invoices for your purchased items will be e-mailed directly.
Simulcast auctions will follow the actual live auction. You will be participating just as if you were present. Since the pace is very quick, you’ll need to stay focused on your items and the bidding process. You’ll have to enter your bids fast to make sure you have a chance of placing a winning bid.
Phoenix auctions may provide the ability to listen to the live auction through your computer’s multimedia capability.
What Happens After an Auction
You’ll receive an e-mail after the auction indicating whether you won. If you were the successful bidder, you’ll receive a copy of a paid invoice. Then, you’ll need to retrieve your items.
When you registered for a bid card, you probably had the option of having your items shipped directly to you. If you aren’t having them shipped, you’ll have to pick up the merchandise at the auction location within the time allotted.
Online bidding is fun, fast and exciting. It’s easy to get hooked on the process, so it’s important to thoroughly evaluate potential items. Once you determine an item’s value, then you can set a maximum bid. When you bid carefully, you can take advantage of the great deals auctions have to offer.
For more information on Phoenix auctions, continue reading our blog or contact Auction Systems today.
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