How bidding works:
- Bids are placed by entering a dollar amount in the bid box.
-The software will save your bid as a MAXIMUM bid.
-The bid active bid will only increase the bid by the NEXT minimum bid increment. (Example: if the lot is currently at $6 and I bid $20, the system will raise the bid to the next increment - $7)
- You can change your maximum bid, but that bid must be at least the next minimum bid increment (Example: I have mistakenly bid $1000 and wish my maximum bid to be $100. I am currently leading the active bidding at $75. I can change my bid by bidding $100. I could bid as little as $76)
$1-$100 - Minimum bid increment is $1
$100.01 - $500 - Minimum bid increment is $5
$500.01 - $1000 - Minimum bid increment is $10
$1000.01 - $2500 - Minimum bid increment is $25
$2500.01 - $5000 - Minimum bid increment is $50
$5000.01+ Minimum bid increment is $100
This is a soft bid auction. If two or more bidders are actively bidding within the last 2 minutes of the auction closing the clock will add 2 more minutes to the clock until all bidding stops. Once active bidding stops the clock will count down from when the last bid was placed.