Pre or preliminary bidding is the first part of the auction sale process. Pre-bidding is online only and lasts for about 5-7 days online prior to the live auction. Pre-bids can be placed at any time day or night up until one hour before the auction goes live. Please note that bids cannot be changed or lowered once the bid is locked in. Bids can be increased at any time.
Our automated system manages confidential bids while members are away, and if bidding ends before a member’s maximum bid has been reached, the member wins the auction and only has to pay the final auction price plus applicable fees.
Example: If a member places a maximum bid of $10,000 as a pre-bid, and the auction ends at $4,500, then the member pays $4,500 for winning the bid plus all applicable fees.