Online auctions provide an exciting opportunity for bidders. Bidding takes place entirely online, eliminating the need to be physically present at an auction house at a certain date or time. Participants in online auctions bid against each other to get the best price. Bidding starts low, and bidders can get quality products at a fraction of their MSRP value.
At Lots of Auctions, we get a lot of questions about using our website. If you’ve never bid in any of our auctions, or you’d like to learn some tricks, you’ve come to the right place. Read on to learn how to participate in our online auctions.
Register to Bid
Before placing your first bid, you need to register to bid. Locate the button on our homepage that says “Register to Bid”. You can also click here. There is no charge to register.
Fill out all fields and check the box under the text “Email Bulletin Subscription.” Signing up for our emails ensures you never miss a new auction launch or close. Read our User Agreement then click “Register to Bid” at the bottom of the page.
Once you’ve registered to bid, you need to confirm your account. Check your email to verify your email address. If you do not see the confirmation email, check your spam filter. If necessary, you can reach out to us for assistance through the Live Chat feature on our website.
View Our Auctions
Locate the auction you’d like to view. You can find all auctions on the home page separated by location. You can also find our online auctions under “Live Auctions” in the menu at the top of the page.
Click “BID NOW” on the auction you’d like to view. This will take you to a list of all available items in the auction. Click the plus sign to view details about each item.
Place Your Bid
Bidders can place bids on as many items as they choose. There is no limit to bidding. Bidders may choose to place a “Quick Bid” or submit a highest bid on each item. The “Quick Bid” option is a one-time bid. Bidders will need to manually enter all additional bids.
You can submit a highest bid by entering an amount and clicking “Submit Bid”. Typically, a highest bid will be the maximum amount a bidder is willing to pay for an item. Bidding amount increases by the bid increment listed on each auction. Winning bidders will not need to pay their highest bid unless bidding reaches that amount. The system sends notification when bidders get outbid. At this time, the bidder may choose to increase their highest bid or forfeit the auction.
Adding Items to Your Watch List
Bidders can add individual items to the “Your Favorites” tab found on the bidding pages of the website. Click the star to the right of the item title to add the item to “Your Favorites”. Clicking the “Your Favorites” tab at the top of the auction bidding page allows you to view and track selected items as the auction progresses.
Auction Close
Lots of Auctions uses a popcorn bidding system. This means that the closing time of the auction automatically extends if someone places a bid in the last few minutes of the auction. This system ensures that every bidder has a chance to place their final bids.
What Happens After the Auction?
Winning bidders are charged at auction close for all items they win. These bidders must pick-up their items within the pick-up window posted on each auction. Please contact us for information about shipping items outside of the area.
Please see our FAQ for more information about using our website. Good luck and happy bidding!
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