Glossary

Alerts:

Free auto-notification service that notifies you via email when certain things happen. You must have an account to get alerts. These can include up-coming sales, auction event up-dates or lots up-dates.

Auction Closing:

The time that the last bid will be accepted - the end of the auction.

Auction Closing Type:

Sequential closing commencing with lot 1 with each subsequent lot closing at a time as stated on the auction page. As an example, Lot 1 closes at 10.00am with each subsequent lot closing 1 minute in the future. So Lot 1 – 10:00am, lot 2 - 10.01am, lot 3 - 10.02am etc.
The close time for a particular lot will always be shown on the lot catalogue and the lot details page. There is NO extended bid time, the bidding will close at the listed time.

AutoBid:

You enter your maximum bid in the Auto Bid feature. This maximum bid amount is seen only buy you.  The Auto Bid feature will bid for you’re to make sure that you are the high bidder up to your maximum amount.  Auto Bid will ONLY bid for you using only the amount needed to keep you the high bidder up to your maximum.

Buyers Premium:

A fee paid buy the winning bidder based on the auction lot-winning price. As an example, a winning bid is $100., auction house charges a 12% buyers premium, and buyer will owe $112. plus any applicable taxes and/or shipping.

Current Bid:

The present high bid.  To become the high bidder you must advance the current bid buy the next bid increment.

Extended Time:

There is NO extended time. The lot will close at the listed time. The bid time WILL NOT be pushed out buy last minute bids.

Increments:

Also called "Next Bid Increment" or "Bid Increment." The amount by which the bidding is advanced. It is either set manually by the Seller or is computer generated based on the Current Winning bid amount. Current Bid + Bid Increment = Next Allowable Bid.

Computer-generated Bid Increments:

If the Current Winning bid is: The increment is:
0 - 49 10
50 - 499
25
500 - 1999 100
2000 - 3999 250
4000 - 9999 500
10000 - 24999 1000
25000 - 49999 1000
50000 - 74999 2500
75000 - 99999 2500
100000 - 199999 5000
200000 - 499999 10000
500000 - 999999 10000
Above 1000000 25000


Lot:

A single asset or a group of assets sold as a single unit for one price.

Minimum / Maximum Bid:

The seller will establishe a price below which the asset can not be bid on. The minimum bid is the opening bid.  The reserve price can be the opening bid amount or some amount above the opening bid amount. There is no maximum bid, that is determined buy the bidders.

Next bid amount:

The next allowable bid amount that is available to you on the “Bid Now” button

Reserve Price:

The price at which the Seller is obligated to sell the asset. Reserve prices are set by the seller.  The seller must sell the asset if it meets or exceeds the reserve price. The Reserve Price is not shown but  bidders can will be shown when the item has meet the Reserve price.

Watch List:

A free service for registered users that lets you select lots and view them in one easy to use location.Click the "Add to Watch List" icon at the top right of each item's description page. Manage your Watch Lists from your account page after you sign-in.