![]() ![]() ONLY the 'current high bid' at the close of the lots will be used to determine if the lot will be sold in bulk or individually. Individual lots that do not meet the reserve will count as $0.00 toward the individual lot total.Īlso, higher proxy amounts have no value in determining the total of all individual lots in comparison to the winning Bulk Bid. The Individual lots win if the sum of the individual lots’ closing bids is greater than the Bulk Bid closing bid. The Bulk Bid wins if its closing bid is greater than or equal to the sum of the individual lot closing bids. That determines if the lot(s) will be sold in bulk or individually. Bulk Bidding: A Bulk Bid is composed of (2) or more individual lots grouped together enabling a bidder to place a single bid for the entire group.Īfter the lots close, the Bulk Bid closing bid is compared to the sum of the individual lots closing bids. Also, in the instance where your proxy bid and another’s bid are equal ($500 and $500 in the above example), your bid will win, because you placed your bid first. ADVANTAGES: If your schedule does not permit you to participate at the closing of an event, a Proxy Bid will bid on your behalf in your absence. Proxy bidding continues to bid for you up to your $500 proxy amount. When another participant bids $150, the system automatically places another bid for $175, keeping you as the high bidder. Assuming there are no other bidders with proxy bids, your 'proxy' bid will raise your bid to the next minimum bid amount, in this case, $125, making you the current high bidder. EXAMPLE: The reserve has been met and the high bid is $100. ![]() The system will automatically bid on your behalf against other bidders (if any), up to your Proxy Bid. ![]() Proxy Bid: A Proxy bid is the Maximum you are willing to bid for that lot. For the Busellato line of CNC Machining Centers and CNC. ![]() We offer our customers a complete package of sales, engineering, delivery, training, parts and service. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |