How do I bid in a Timed Auction?
25th September 2023
What is a Timed Auction?
A Timed Auction differs to Live Auction as there is no auctioneer present taking bids from a live audience in the room. Instead, all bidding takes place online over a defined period of time. Once that period of time comes to an end, the bidder who has submitted the highest bid, wins the lot (provided it has exceeded the reserve amount.)
All Timed Auctions have an end-time displayed on the lot page. You can bid at any point from when the auction opens to when it closes.
If a bid is placed in the final few minutes of the defined time period, the time period will be extended by a number of minutes. Typically on thesaleroom.com a bid placed in the final 10 minutes of the Timed Auction extends the closing time by 10 minutes.
This is to stop ‘sniping’ – a practice used by bidders on some other websites whereby they rush to place bids in the last few seconds to prevent other bidders being able to respond before the auction closes
How do I bid?
At present all of our timed auctions are held externally through thesaleroom.com. Follow these steps to bid on a lot.
1. Go to the catalogue page and log in using your Saleroom details. If you have not created an account you can do so here: Saleroom Registration
2. Click on the 'Connect to auction' button displayed at the top of the auction catalogue
3. Complete the auction registration form
Once, we have approved your registration you'll then be able to begin bidding. In order to bid;
1. Find the lot you want to bid on
2. Type in your maximum bid into the appropriate box and click 'place bid'
3. Click 'confirm' on the page that appears
Don’t forget, just like when you’re in an auction room, bidding online is a contractual commitment to buy.
When you bid in an auction, there is no right of return, unless an item is materially different to its catalogue description.
That’s why we recommend you find out all you can about an item’s condition before you bid and contact us for condition reports.
We are unable to take commission bids or telephone bids for Timed auctions.
How much is the commission?
Buyer's premium Inc. VAT/sales tax: 24.00%
Online commission inc. VAT/sales tax: 3.60%
Total = 27.6%
If you have any further questions about the Timed Auction process please get in touch