Online Bidding FAQ
Online Bidding Frequently Asked Questions!
How does the online bidding work
At BidderOne.com online auctions can work in three different ways, depending on the type of auction we are having.
1. Live Auction with Pre-Auction Online Bidding! All of our live auctions offer online pre-bidding. This allows bidders who cannot attend the auction to participate by placing bids online prior to theauction. Online pre-bidding closes sometime before the actual live event starts. Some auctions close the night before the live auction and others may close 30 minutes before the live auction. It is important to read the terms and conditions for each sale to understand when the online pre-bidding ends for each auction. As an online bidder, you will be bidding against other online bidders until the close of the online portion of the auction. The high bidder’s bids for each item will be taken to the live auction and facilitated on their behalf up to but not over there maximum bid.
Example: If you place a max bid on an item at $1000, our online system will bid on your behalf in pre-defined increments against other online bidders until the end of the online portion of the auction. At the end of the online portion, if you are the high bid at $700, your bids will be taken to the live auction. Typically, the auctioneer will try to open the bidding on the floor at the live auction. If he is unable to start the bidding at a price higher than your $700 online bid, one of our staff will start the bidding at your $700 online winning bid. At that point your online bid will be competing against live bidders at the auction. If the auctioneer is selling in $50 increments at the time and a live bidder bids at $750, one of our staffwill bid for you at $800. This process will continue untileither the bidding has stopped and you are the high bidder or your $1000 max bid is outbid by a live bidder.
2. Live Auction with Live Online Bidding! All of our auto auctions, gun auctions and some of our equipment auctions offer online live bidding. This simply means that you can participate in the live event from the comfort of your home or office. You can watch, listen and bid on items as the live auction is taking place.
3. Online Only Auction! This is simply the same process as a live auction, but without the live event. This is a timed event with an end date and time. The registration and bidding is the same as our online pre-bidding.
How do I register to bid online
Once you click on the bid online link for an auction you are interested in, you will see a Login/Register link towards the top of that page. Click on it and click on the CREATE NEW ACCOUNT link. After filling out the required information, your will be directed to a page showing whether you have been approved.
Why do you need a credit card/debit card to register and will it automatically be charged if I am the high bidder on an item
You will be required to put your personal information and credit card information to register. The credit card is used for verification purposes mainly, but is also provide in case of default by a buyer. If you are the high bidder on an item, you will receive an invoice by email within 24 hours with instructions regarding payment and pick up of your item. You will be given the opportunity at that time to contact us and let us know your prefered method of making payment. Your credit card will never be charged unless you are indefault of the terms and conditions.
How do I bid
Go to the auction you would like to participate in, click the bid online link and login with your username and password. You will then be able to enter your max bid for the items you are interested in. Please make sure to click submit at the bottom or top of the page before moving on to another page. If you do not see an online bid link, it may mean that items have not been posted yet for online bidding.
What is a Maximum Bid
A Maximum Bid is the highest dollar amount you are willing to pay for an item. When you enter a Maximum bid the system will automatically bid on your behalf up to your Maximum bid amount. For example let’s assume that the next bid requirement is a $100.00, you enter a Maximum bid of $400. If no other bids are placed on that item you will be the winner at your $100 bid. If another bidder places a bid of $200 on the item you will now be winning at the $200 plus 1 increment level (for example: $200 + $10 = $210).
May I raise my Maximum Bid
Yes, simply login and place a higher bid. The system will confirm that you are already the high bid and that you are placing a higher maxbid.
What is a Bid Increment
The Bid Increment is the minimum dollar amount that the bid must be raised by. Bid Increments will typically be in $5.00, $10.00, $20.00,$50.00, $100.00, $500.00, and $1000.00 increments depending on the price level of the item. You can bid higher than the minimum bid,or you may enter a Maximum bid, but you may not bid in denominations less than the set Bid Increment.
What is Auto-extend time
Our auto extend feature prevents "sniping", the placing of a bid at the last possible second not allowing the previous bidder the opportunityto raise there bid. With our system, if the online bidding is set to close at 10:00PM and a bidder places a bid at 9:59PM, the system will automatically extend the closing to 10:04PM. This process will continue until 5 minutes has lapsed without any bidding activity. In short,waiting until the last minute to place your bids does not benefit you with this system.
How do I know I won
If you are the high bidder, the system will send you an invoice by e-mail within 24 hours. This e-mail will have complete instructions on payment and pick up.
How can I make sure I am seeing the most current bidding information on the screen
During the bidding process you will need to refresh or reload your page frequently to ensure you are viewing the most current bidding screen.
If I win, who, how, and when do I pay
When you win an item you will receive an e-mail (Invoice) which will give you complete details of your purchase. Payment is to be sent next day delivery(overnight) to: L.W. Benton Company, Inc. Attention: Online Payment 107Oak Valley Drive, Macon, GA 31217 Important: Payment for all auction items must be received within four (4) days after the auction closes. We will permanently ban you from all future auctions if prompt payment is not received. Also, you will not be able to pick up your items until full payment is made.
How do I find out more about a posted item
Each auction has a contact person and with online only auction you may have contact persons for each item. If you have any questions about an item, please contact that person.
Why is there Tax on some sales
The tax laws governing auctions are complicated. L.W. Benton Company,Inc. makes every effort to determine before hand if sales taxes must be collected. There are several situations in which you do not have to pay sales tax. If you provide a sales tax number from the state where the auction is held and sign the appropriate sales tax exceptions form, or if you are purchasing an item for use in another state you may not have to pay Georgia sales tax. Sales tax exemption forms must be filed with L.W. Benton Company, Inc prior to bidding.
If I register online, do I still have to register at your live auctions
Yes, since terms and conditions are different for each auction,we require you to register at every auction. Registration is quick and easy.
If I plan to attend a live auction, do I need to still pre-bid online
That is up to you. If you pre-bid online and then attend the live auction, please keep in mind that we will still facilitate your online bids up to but not over your max bid. Once we have reached your max bid you are welcome to bid above that.
I bid online with a max of $2000 and the item sold for $2000 but to a onsite bidder. Why did I not win the bid
In some cases the onsite bidder may reach your max bid first. For example, if the high bid online at the close of the online bidding is $1000 and the bidding at the live auction starts at $1600 on the floor. If bidding increments are in $100 increments,the online bidder would be represented at $1700. If the floor bids at $1800, the online bidder would be represented at $1900. The next bid of $2000 would be on the floor, which means they reached what happened to be your max bid before you could be represented.