Live online auction is a mix of both live and internet auction. There will be an online clerk who will relay your bids to the auctioneer and you will be bidding against the floor bidders who will be present in the auctions and other online bidders. In this article, we will see how to bid in an online auction.
Step 1- Find live online auction and create an account
The first step will be to find a live online auction. Soon after you have to register on the internet as a client with a particular website. After doing this you will get a customer ID and password. As you got the credentials now, you can use the customer ID and the password to log in. You must also register your payment card or credit card details before you submit bids.
Step 2- Find the item you want to bid for
For instance, you might be interested in a particular artist’s creation. The website will help you in searching for your wishes. You can type what you search for in the search box. You can view all the articles at the auction.
Step 3 – Choose the amount you want to bid
The bids in the online are also called as auto bids. They are also called as max bids. It means that you can bid on an online auction by submitting the maximum amount you wish to pay.
Through this, they can ensure that the hamper prices are as low as possible and also your bidding does not exceed the amount which was specified in your bid. Suppose, no bids are submitted for a particular item then the bid will start from the lowest bid in the menu.
If a bid is already made to an item then the bid will start from the next possible bid. And finally, confirm your bid.
Step 5 – View your bid in the building history
You can find your bid in the bidding history marked in bold typeface. In a situation, if two bidders have come up with the maximum same amount, the one who submitted the bid first will be in the top of the bidding history.
Step 7 – Extending auctions
I suppose the bids are submitted for an item just within 2 minutes. The next moment is the fall of the hammer, the time will be postponed to 2 minutes after the last bid. Postponements will be continuing until a final bid comes into the picture.
Step 8 – the hammer price
After the final bid is submitted, the hammer price will appear next to the item. If it is your bid you can see it. You will also get an email regarding this information. So, it now easy to bid in an online auction through a live online auction.