Euro Auctions - Industrial Plant Auctions, Construction Equipment Auctioneers, Agricultural Equipment Auction

Euro Auctions - Industrial Plant Auctions, Construction Equipment Auctioneers, Agricultural Equipment Auctions

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Timed Auctions

How to Bid in our Online Timed Auctions

Online Timed Auctions are designed to sell items online without the need for an auctioneer. Bidding can open up to 1 month before the auction and each lot closes at staggered intervals during the auction period.

Like with our ‘Live’ Auctions

Every item is sold to the highest bidder when bidding closes. If a bid is received within the last 60 seconds the lot is re-opened for a further 60 seconds.

 

Register to bid Online

The process for registering to bid in our Timed Auctions is the same as for our Live Online Auctions;

You must first have an online Bidding account Click Here to Register to Bid Online

Once you have created an Online Bidder Account, you need to register for the auction in which you wish to Bid.

Please Note: You need to register separately for each individual Auction. Please ensure you have registered at least 48 Hours in advance to ensure your account has been approved for bidding in good time.

Click Here for a List of our Upcoming Auctions

Once you have been approved to bid you will receive an email of notification from Euro Auctions with details of your Bidder Number & Approved Credit Limit.

If you need to increase your Credit Limit, you will likely have to supply an additional deposit. Please contact our Head Office in such cases: +44 2882 898262

Auction Catalogue

The Auction Catalogue may be available up to 1 month prior to the Timed Auction Closing date & can be viewed via the link on our homepage at www.euroauctions.com

 

How bidding Works

 

Starting Bid

The starting bid for each lot is set at a percentage of the expected Hammer Price for the lot.

It should be noted that all items in our Auction are unreserved and this price is simply to get bidding started

 

Increments

Increments are calculated by referencing the current bid against the auction increment table

See below our Default Increment table

 

Bids over 0.00 must be in 10.00 increments

Bids over 100.00 must be in 100.00 increments

Bids over 1000.00 must be in 500.00 increments

Bids over 5000.00 must be in 1000.00 increments

Bids over 30000.00 must be in 5000.00 increments

Bids over 50000.00 must be in 10000.00 increments

Bids over 150000.00 must be in 25000.00 increments

 

It should be noted that this increment table can change in some Auctions. The Increment table in use for any Auction can be viewed via the Bid Increments link in any Item Detail page

 

Maximum Bids

When placing a Bid, the default bid a user is asked to place is the Minimum Next Bid which is set based on the Increments table. But the user also has the option of entering a Maximum Bid.

This is the Maximum amount a bidder wishes to pay for the lot &must be a valid value as determined by the Increments table.

Once a bidder has placed a maximum bid, any subsequent bids from other bidders that are less than the users Maximum bid, will only increase the current bid & asking price, but the user who entered the maximum bid will remain the high bidder, until another user enters a greater bid.

An example;

1.     Bidder A opens Bidding on Lot #18.

The Start Bid is 19,000 (So increments of 1000). The bidder enters a Max Bid of 25,000

Bidder A is now the High Bidder at 19,000

2.     Bidder B comes along and also wants to Bid on Lot #18

The Current bid is 19,000, so the next minimum bid is 20,000

Bidder B places a bid of 20,000, but is instantly outbid by Bidder A who is still the high bidder, now at 21,000. The asking price is now 22,000

3.     Bidder B places a new bid of 22,000 and again is instantly outbid.

Bidder A is still the High Bidder, now at 23,000. The asking price is now 24,000

Bidder A will remain the high bidder until someone places a bid of 26,000 or more (increments above 5000 must at least 1000)

If this happens, Bidder A will receive an email alerting them that they have been outbid

 

Closing Times

Once the inventory is added to the Catalogue, closing times will be set for each item & displayed in the catalogue listings. Usually groups of 2 or 4 similar lots will all have the same closing times set for them.

The closing times set for each item will not be an exact time, but a time period in which bidding for the item is due to close, e.g. 11:52:00 – 11:58:00

If any bids are received for the item within this time range, the final closing time will be extended by 1 minute. So instead of closing at 11:56:00, the item will remain open for bidding for another minute until 11:57:00. If another bid is receive, bidding will be extended once again by another minute.



Placing Bids

The Auction Catalogue may be available up to 1 month prior to an Online Timed Auction closing.

In the period prior to lots closing, bidders may place a Maximum Bid at any time.

You will receive a confirmation email once your bid is placed. You will also receive email notification when your maximum bid has been outbid by another bidder, or if you have won the Lot.

Placing the Bid

Browse to the item in the Auction Catalogue. Here you will find a summary list of all items in the Auction with Current Bid, Asking Price & Closing Times

Click on the Title Description hyperlink of the Lot you wish to place a bid on

This will take you to a detailed description of the Lot you have selected with the Current Asking Price & Closing Time for that particular Lot

Enter your Maximum bid & Click Confirm Max Bid

 

You will be taken to another screen to once again confirm the Bid you are placing.

Click Confirm

You will now be taken back to the Lot Description page.

You will now see that either You are High Bidder or that your Max Bid has been outbid by another bidder’s Max Price

This item will now be added to your Watching & Bidding Lists in your My Items section of our website



Auction Brochure

View our online equipment auction brochure

E-Payment

Pay your deposit online

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