Each auction consists of two different phases:
Open Bidding
During Open Bidding, you place bids against other buyers. This phase usually lasts several days or weeks.
How open bidding works:
- The “Current Bid” shown on the site is not always the highest bid. Instead, it’s the second-highest bid plus an incremental increase (which varies by item). This ensures the highest bidder’s maximum amount remains hidden.
- If you place a bid below the top bidder’s maximum, the Current Bid may increase, but you will not become the highest bidder.
- Once your bid is higher than the top bidder’s maximum, you take over the highest bidder position.
- In the case of matching bids, the bidder who placed their bid first will hold the highest bidder position.
Example:
- Bidder A sets a maximum bid of $500.
- Bidder B places a bid at $225. The Current Bid will display $225 + an incremental increase (e.g., $225 + $x).
- If Bidder B raises their bid to $300, the Current Bid updates to $300 + an incremental increase. However, Bidder A remains on top since their maximum is $500.
- If Bidder B bids above $500, they become the highest bidder.
Notifications:
Throughout this process, you’ll always know where you stand:
- The site clearly shows whether you are the highest bidder.
- You’ll receive email alerts if you are outbid or when bid activity occurs.
- You will also receive SMS alerts if you are signed up. To enable SMS alerts, go to your Account Settings.
Extended Bidding
If at least two bidders participated during Open Bidding, the auction moves into Extended Bidding—a private session limited to those original bidders.
How it extended bidding works:
- Extended Bidding begins immediately after Open Bidding ends.
- It starts with a 15-minute timer. Each new bid resets the timer to 15 minutes for that specific item.
- For example: If Open Bidding ends at 6:00 pm, Extended Bidding is set to close at 6:15 pm. If a bid comes in at 6:03 pm, the closing time shifts to 6:18 pm.
- The process continues until no new bids are placed within 15 minutes. At that point, the highest bidder wins the item.
Notifications:
- All eligible bidders are updated during Extended Bidding with real-time email alerts.
SMS alerts are also available if you are signed up. You can enable SMS alerts through your Account Settings.