Registration: To participate in the auction, bidders are encouraged to register in advance. This typically involves providing basic personal details and identification documents to establish credibility and facilitate the bidding process.
Buyer’s Guide: It is mandatory for all participants to read the Buyer’s Guide before placing bids. The guide explains the rules, procedures, and responsibilities involved in the auction.
Estimates: Each lot is assigned an estimated price range. If bidding does not reach or exceed this range, the lot may be withdrawn from the auction.
Bidding Process: The auction follows an online English auction format, where each lot opens with a starting price. Bidders then place incremental bids until no higher bids are made or the allotted time expires.
Make an Offer: A feature is available for bidders to submit their best offer for a lot. If the offer meets the seller’s reserve price, the lot may be secured immediately during the live auction.
Buyer’s Premium: No additional buyer’s premium is charged, allowing participants to bid with full confidence in their maximum price.
Payment Terms: Successful bidders are required to make payment within a specified timeframe (typically 14 business days). Accepted payment methods will be confirmed by the auction house.
Ownership & Delivery: Once full payment is made, ownership of the lot is transferred to the buyer. Collection or shipping can be arranged, with associated costs and logistics being the buyer’s responsibility.
Auction Timing: Each lot is treated independently, with prices increasing from the starting bid. To ensure fairness, if a bid is placed within the last 3 minutes before closing, the bidding time for that lot will automatically extend by 3 minutes.
Transparency & Fairness: Equal opportunities for all bidders are a priority. The system is designed to ensure a transparent process where every participant has a fair chance to compete.
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