THIS IS A GUIDE ON REGISTERING TO BID AND AN EXPLANATION OF HOW THE ONLINE BIDDING SYSTEM WORKS

screen-shot-2016-10-22-at-5-58-15-pm screen-shot-2016-10-22-at-6-04-05-pm screen-shot-2016-10-22-at-5-14-06-pm MORE ON THE PROXY BIDDING SYSTEM…. Our online bidding platform is set up as a Proxy Bid system, which is the same platform used by eBay and most online auctions sites. This is how it works. Example: Bidder A decides to place a bid when the auction first starts because he knows he will be traveling when the auction ends. He places a bid for $200 for Lot 1 and he’s the first bidder on this lot. Because we set up each lot to start at $10 and move up in one-dollar increments, the system shows Bidder A as the high bidder.  Even though Bidder A placed a bid for $200, the system will show the high bid as $11 to anyone who is looking at Lot 1. A day later Bidder B decides he wants to bid and he decides he would pay $150 so he places a bid in that amount.  He sees an instant notice that says he’s been outbid. It’s because Bidder A placed a bid of $200 earlier, so now the high bid is showing as $151. Bidder A is still the high bidder. Bidder C comes along a day later and decides he desperately needs this item and is willing to pay $300 for it. He enters $300 and now he is the high bidder. For anyone who is looking at Lot 1, the high bid now shows up as $201 because he just surpassed Bidder A (whose max bid was $200).  If no one else bids on Lot 1 and it ends without anyone else bidding, Bidder C wins it at $201 (even though he entered a max bid of $300).