How do absentee and online bids compete with bidders in the room?
Asked by sitecontributor|Auctions › Bids
Answer
BidBuySmart
Many auctions now take bids from several places at once: bidders in the room, on the phone, and online, plus absentee bids left in advance. The auctioneer or a clerk watches all of these and calls the highest current bid, whether it came from the floor or the internet. To you, it may look like the price jumped without anyone in the room raising a hand.
An absentee or online maximum bid is usually executed on the bidder's behalf one increment at a time, only as high as needed to beat the competition, up to their limit. If two bids are equal, the auction's terms decide who wins, and many give priority to the bid received first. Online bidding can also have a slight delay, so auctioneers often pause briefly before closing a lot.
The details vary by auction company and by state, so read the terms for absentee, phone and online bidding before you register. If you are bidding online, keep a steady connection and do not wait until the last second.
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