In a timed auction, there is no auctioneer taking bids from a live audience in a room. Instead, bids can be placed online, on each lot for a defined period of time. Once the time-period expires, the bidder who has submitted the highest bid wins the lot, provided the bid exceeds the reserve price. Note that the online surcharge is a reduced 3%+VAT.
Max bids (competitive bidding)
As a bidder, you can enter a max bid – the most you are willing to bid, and we do the rest. We will bid intelligently for you, only enough to meet the reserve or stay in the lead. Alternatively, commission bids can be submitted via Gorringe’s Bids Department by 9am on 29th August. Note, outbid notifications are not available for commission bidding.
End-time extension
Lot scheduled end times are displayed on the individual lot time. Note, lots are scheduled to close in 30secs intervals from each other. These scheduled end times are subject to change should bidding occur within 5mins of the scheduled end time.
If a bid is placed in the final 5minutes of the lot’s scheduled end time, the end-time will be extended to protect against ‘sniping’ – the practice of bidders placing bids in the last few seconds preventing other bidders responding. Gorringe’s has set the lot extension to 5minutes, meaning a bid placed in the final 5 minutes extends the lot’s end time by 5 minutes.
Outbid notifications
You’ll see your ‘current bid’ when you log in and view the lot (often it will be less than your ‘maximum bid’). If someone bids higher than your maximum, we will send you an ‘outbid alert’ via email to let you know, so you can decide whether or not to bid more.
