AuctionTime.com How-To

how bidding works

Registration

Registering to bid on AuctionTime.com is free and allows the bidder to actively bid on any piece listed on AuctionTime.com.

To register to bid, simply click on the register link in the upper left-hand corner of the home page and go through the two-step registration process. Any information submitted through the registration process is 100% confidential.

Once you have submitted your registration for approval you will receive a phone call from an AuctionTime.com rep to finalize your registration and answer any questions you might have about the bidding process.

Proxy Bidding

This feature allows you to place a bid in advance beginning one week before the end of the auction. Once the 24-hour live auction officially begins, all proxy bids will be processed and email notification will be sent out regarding the status of your bid.

In order to place a proxy bid, click on the lot you’re interested in bidding on and type in your maximum bid in the Bid Now box. Once you’ve submitted your bid, you will go through a confirmation page where you will verify the amount you’ve entered. An email notification will be sent to you confirming that we have received your Proxy Bid.

Live Bidding

Live bidding is the 24-hour period of time when bidders can monitor the auctions and place live bids on pieces scheduled to end that week. We encourage bidders on the site to contact the seller of the piece they are bidding on before they place a bid and gather all unkown information before bidding.

Max Bid - Bidders have the opportunity to place their max bid - the highest amount you are willing to bid on that piece. The seller and other bidders will never know the amount of this bid. AuctionTime.com will place bids, on your behalf, using the smallest bidding increment necessary to ensure that you remain the high bidder until your max bid is met. If another bidder has placed the same bid before you, or a higher max bid, we’ll let you know that you’ve been outbid and you will have the opportunity to place another bid.

Live Auction Board - On Wednesday mornings, AuctionTime.com will display the Live Auction Board.

When logged onto the site, the Live Auction Board will keep track of your bids, let you know when you’ve been outbid, when you are the leading bidder, and when a piece has recently taken a bid.

You can bid from the Live Auction Board simply by clicking the bid bar under each listing, which will direct you to a confirmation page, or you can choose to turn on the Quick Bid feature.

Quick Bid - By turning on the Quick Bid feature, you will not be directed to the confirmation page. Your bid will be accepted with one click of the bid button.

Time Extension - When the piece has only one hour left, it will display that any bid that is placed in the last minute of the auction will extend the auction by up to 40 seconds. For example, if a bid is placed at 10:59 a.m. and the auction is scheduled to end at 11 a.m. the auction could be extended up until 11:00:40 a.m. This will continue to extend the end time as long as bids are being placed on that piece.

Winning The Auction - After the auction has concluded, an email notification will be sent out to the winning bidder with the seller’s contact information. The seller will receive a similar email with the high bidder’s contact information. It will be up to these two parties to contact each other to decide on the details of the financial transaction and the transportation of the piece.

Auction Group - Auction listings with the same Manufacturer and Model can sometimes be grouped together. All listings in an auction group end at the same time. If any of the auctions in the group take a bid in the final minutes, all listings in the group will have their time extended. Listings in an auction group will be linked together on the Live Auction Board.

Navigate The Site

Details Page – Each individual piece has its own details page. This page includes the auction information on the piece (lot number, opening bid, auction end date/time), seller information, specifications of the piece, inspection information on the piece and any available pictures of the piece. Bidding is available on this page and on the Live

Auction Board. This page is found when an individual piece is clicked on from the many listings found on each tab.

Sorting – You are able to sort the items on the site in several different ways. Year, Manufacturer, Model, S/N, Price, and Location are all options for sorting. Once one of these headings is clicked, the viewable pieces will sort according to that category.

Lot Number Search, Auction Dates, Auction Results – Each individual industry tab allows you to look at the pieces on that tab in several different ways. You can search by entering the lot number, by selecting a specific auction date, by viewing all available listings on that tab or by looking at the auction results available for that industry. We display all auction results that are sold on the site under this area on each industry tab.

Watch List – When logged in as a registered bidder, you can indicate a listing as an item to add to your watch list. By flagging this piece or clicking on the “Add to Watch List” link in the upper right-hand corner of each details page, it will be kept in your Special Features area to be viewed at any time. You will have the option of adding notifications to these pieces and to receive emails and texts at different points throughout the auction process.

My Special Features – This link, located at the top-center of the home page, allows you to update your registration information, view any bids you’ve placed, and keep track of any items you’ve marked as pieces of interest. If you indicate that a piece is a Machine, Truck, or Trailer of Interest, you can keep track of these items in this area. You will have the option of getting email and text notifications as these pieces go through the auction process.

Email and Text Messages – You have the option of setting up email and text notifications when you select different pieces on the site as Items of Interest. You have the option to receive different notifications throughout the auction process on the pieces you have selected.

Buyer Expectation

Bidding – A proxy bid can be removed at any time prior to the time live bidding opens (9 am Central Time the Tuesday prior to the end of the auction). Prior to bidding, the buyer has access to contact the seller with any questions they have about the machine, shipping, sales tax, and payment details to avoid any issues once the auction has ended.

Winning Bidder – The winning bidder is expected to contact the seller immediately following the sale to set up payment and a time to pick up the item.

Seller Expectation

Selling through AuctionTime - The seller is expected to represent the machine to the full extent of their knowledge. The seller is not allowed to bid on their own equipment. If a seller bids on their own piece of equipment the bid will be removed immediately. Bidding on your own equipment or failing to accurately represent your machine could result in a revocation of your right to sell equipment on AuctionTime.

AuctionTime makes no representations, guarantees or warranties regarding the machine or the buyer or seller and encourages users to conduct any investigation deemed necessary. Furthermore, AuctionTime is merely a venue that brings buyers and sellers together and is not in any way a party to, or otherwise involved in, the buy/sell transaction between the buyer and seller.

Post Equipment

This feature allows you to get in contact with an independent, registered AuctionTime.com dealer or auction company. You and the dealer or auction company will be able to make arrangements to post a piece of construction equipment, farm equipment, truck or trailer on AuctionTime.com.

When the post equipment link is clicked it will bring up a screen that will ask you to log in, if you’ve not already done so, and then bring you to a screen that will ask for the category, make and model of the piece you would like to consign. The next two screens will ask for more detailed information on the piece as well as location and will allow you to upload photos of the piece. The final page will confirm the submission of your information.

We will review your information and then send out the listing to independent AuctionTime.com dealers or auction companies who will be in contact with you to list your piece on AuctionTime.com.

Source: www.auctiontime.com

Category: Forex

Similar articles: