UniAuktion

1. What is the difference between 【Pre-Bid】, 【Bidding】, and【Extended Bidding】?

You can always set your Max Bid during all the time. The System will show different information as:

A. Pre-Bid

During the Pre-Bid stage, time Left means the time to the Bidding stage. You can also set your Max Bid, but the system will not display the entire scale and bids of other bidders.

B. Bidding

The Bidding stage will continue about 5 hours. The bidding system will reveal the records of bidding price and increment transparently.

C. Extended Bidding

Within five minutes prior to the end of bidding , the bid timer will be extended for another five minutes automatically if any competing bidders challenge the standing maximum bid.

2. How does the credit limit influence my bid?

There are two types of limit which may restrict your bidding amount

  1. Unit price limit: The highest price that you can bid on one lot.
  2. Total limit: The lump sum of all your max bids of the same sale.

Once a lot is closed, the value will be modified from your original max bid to the hammer price if you win this lot. If you are underbid, the amount of your max bid will be added back into the total limit.

3. What is the Max Bid on the bidding page?

The maximum bid is the maximum amount you would be willing to pay for a given lot. It represents neither the bid price nor the hammer price. The system bids for you from the floor according to the increment. If there are any competing bidders standing out, the system will bid higher orderly up to the maximum bid you set.