SOFT-CLOSE > SNIPING:
Typical internet-only auctions (think eBay) are susceptible to a practice called sniping. Auction sniping is the practice of a bidder waiting until the very last second to place a winning bid on an item with the hope that other bidders do not have time to raise their bid. The intent of sniping is to win an item below the potential high bid (market value). By using a soft-close in our online auction we have eliminated this practice. A lot using a soft-close ending time will automatically have its bidding time extended if a bid is placed in the last minute. Our soft-close setting time is 1 minute, if a bidder waits until the very last second to place a bid on lot 5, the bidding on lot 5 is extended for 1 more minute. This gives other bidders 1 more minute to re-raise their bid. It is not uncommon for a high-interest lot to extend hours past its original close time because multiple bidders keep bidding and extending the close time on the lot.
DISCLOSURE:
If your bid on any item is the winning bid, you are responsible to pay for and pick up that item by coming to our Auction House in person no later than the Wednesday following the auction. If you do not come in by the Friday following the auction, your credit card will be charged for the total outstanding balance (if card is declined, items will be put back up for auction). If the item is not picked up after 30 days from the closing date of the auction, you forfeit ownership and the item will be resold through Lightning Auctions. Also if you are the high bidder on any lot in our auto auction or any vehicle we auction, there is a smog fee of $20, title fee of $28.50 and a document fee of $80 with tax being charged on the smog fee and the document fee for a total amount of $136.23.
BID INCREMENTS:
| Bid Total | Increment |
|---|---|
| $10-50 | $2.00 |
| $51-100 | $5.00 |
| $101-200 | $10.00 |
| $201-1,000 | $25.00 |
| $1001-3,000 | $50.00 |
| $3,001+ | $100.00 |
