Shoppers unfamiliar with online auctions often have questions about how these types of auctions progress. Many people believe online auctions last only one or two days. Occasionally, we run into people that think they have a full month to place their bids. The actual length of time an online auction lasts can vary from one website to the next. Sometimes, the length of time is different on each auction listed on a website.
In-Person vs. Online Auction
Live auctions work a little different than online auctions. Typically, a live or in-person auction lasts between twenty seconds and two minutes. Of course, bidders must wait at the auction house until their items go up for auction. This can take several hours.
With online auctions, bidders can typically bid on all available items immediately after the auction starts. It is for this reason that many people find online auctions more convenient than in-person auctions. Bidding takes place both day and night and bidders can participate from their smart phone or computer.
Online auctions can last between a couple of minutes to a week or more. Most timed auctions last about a week. Although bidding can take place throughout the entire auction, most bidding takes place at the beginning and end of the auction. Online live auctions last until active bidding has stopped. These auctions are a lot like in-person auctions. They can move quickly or last for several hours.
How It Works
After registering to bid, bidders have the option to place a one-time bid or a maximum bid. The maximum bid option allows bidders to walk away from the auction. When a high bid is entered, the system continues bidding on the bidder’s behalf up until the entered amount. Once the bidder gets outbid, the system notifies them via email or other method. At this time, the bidder can choose to increase their maximum bid or walk away from the auction. Many people find entering a maximum bid more convenient than manually entering each bid.
Online auctions provide an exciting, affordable, and convenient way for shoppers to get the things they want and need. Click here for information about our online auctions.