Online Auction Bidding Help
Interstate Auto Auction partners with proxibid to
provide a live online auction experience. We have collected frequently asked
questions and answers here. If you need more in-depth information please contact
Proxibid at 877-505-7770 or visit their web site at http://www.proxibid.com.
General Questions
What is a Live Online Auction?
Live online bidding allows you to attend
our auction virtually, simply by using a computer with an Internet connection
and Web browser. You can now participate in our live auction with the
same advantages you would have if you were sitting in our auction gallery.
What is Live Real-Time Bidding?
Live real-time bidding allows you to send your bids to the auction floor
via the Internet, as if you were at the auction in person. An
auctioneers’ assistant
is onsite to accept your bid and to relay your high bid amount to the auctioneer.
What is a proxy bid?
A proxy bid is a sealed bid left with an auctioneer or
third party indicating the maximum amount that you are willing to bid on a
particular lot or item.
What is Auto-Bidding?
The Proxibid™ system allows you to place a "proxy
bid" by
entering the maximum amount you are willing to bid. The system bids on
your behalf until you win the lot, or when the indicated maximum
bid amount is reached. When using the auto-bidding feature, you may want to
bid one increment higher to minimize the possibility of a tie bid.
What is the Dynamic Auction System?
Proxibid’s Dynamic Auction System
allows interaction between you and the auction room floor
during a live event. You can use your computer to participate in the auction
from the comfort of your home or office. All bids are relayed in real-time
over the Internet, allowing the you to bid with the same confidence as
if you were attending the live auction.
Creating an Account
How do I create a Bidder account?
From Proxibid’s home page, click the
Create Account button located in the navigation bar at the top of the screen.
From there you will be presented with the option to create a bidder or auctioneer
account. Click the large BIDDER button to continue through the short
three step process. A credit card is
required to create an account.
Can I watch the sale without registering?
Yes. You may watch a live sale by
clicking on the animated BID LIVE - WATCH NOW button located on the auction
company listing. You will need to have Java 1.4 installed on you computer before
you can watch an auction. Auctions take place every Wednesday at 5:30pm EST.
How long in advance must I register for an auction?
We recommend you register a day in advance. However you can register the
day of the sale. We accept bids right up to and during the auction.
Do I have to provide my credit card information when I create a bidder account?
Yes. Interstate Auto Auction requires a credit card
in order to create a bidder account. If you are the high bidder, Interstate
Auto Auction will charge the initial deposit to secure your purchase. You may
pay your balance with your credit card, cash or certified check at the Interstate
Auto Auction office.
How do I get more information about a particular lot being sold?
If you would
like more information on a particular lot, please contact Interstate Auto Auction
directly at 603-893-7777 or via email at carauction@comcast.net
What are the Terms and Conditions of Sale for items being
auctioned on the Proxibid™ Web site?
Proxibid’s Terms and Conditions can be found by
clicking on the Terms and Conditions link at the bottom of each page of the Proxibid™ Web
site. In addition to Proxibid’s Terms and Conditions, Interstate Auto Auction
has its own bidder agreement that can be found here.
Bidding Process
Will my bid always go through?
When you click on the bid button, a
message is sent to the Personal Auction Agent sitting at a computer terminal
in the auction room. The Personal Auction Agent alerts the auctioneer when
a bid has been received by shouting out the bid amount or by raising a paddle.
When the auctioneer recognizes the online bid, the Personal Auction Agent clicks
the "Accept Bid" button
located on the auctioneer applet. A message will then appear on your
screen, notifying the participant that his/her bid was accepted by the auctioneer.
However, it is possible that many simultaneous bids will occur at a given asking
price and the auctioneer will choose to recognize only one of those bids. If
another bid is recognized prior to your Internet bid, the system will show
that an "On Site" bidder was recognized first at that particular
asking price and you would have to raise your bid in order to continue bidding
on the item.
What is a reserve price?
The reserve price is the minimum bid amount required
by the consignor or auctioneer. If the reserve price for an item is $100.00,
bidding must reach $100.00 before the item will be sold. If reserve prices
are entered into the Proxibid™ system,
the message "Reserve Met" will appear on your screen when
the reserve price has been exceeded. If the reserve is not met, the auctioneer
has the right to PASS the lot.
Can I retract my live bid?
A live bid CANNOT be retracted once placed over
the Proxibid™ system.
The Proxibid™ live bidding applet is an electronic extension of the physical
auction room - the same rules apply to everyone, including Internet bidders.
For these reasons, we urge you to be very deliberate and cautious while attempting
to bid using either the Proxibid™ system or while attending a live auction.
How do I place a proxy bid?
Currently, a proxy bid can be placed on an item
prior to or during the sale. Once you login to the bidder applet, you can preview
and scroll through every item listed in the auction catalog. Next to each lot,
you will find the Auto-Bid Box where you can enter your maximum bid. Enter
your maximum bid amount into the input field and click the PLACE BID button
directly below. A pop-up box will ask you to verify that the amount you have
entered is correct. Click the SUBMIT button to place your bid or CANCEL to
close the screen.
How do I know if my proxy bid was accepted?
After submitting your maximum auto-bid
through the "Place Bid" pop-up
window, a confirmation screen will appear indicating the status of your bid.
Important note: You must click the REFRESH BIDS button located at the top
of the catalog in order to see your bid appear.
How do I know if I have been out-bid?
The "My Proxibid™" area
will display a listing of lots that you have bid on. When another bidder has
bid higher than your max-bid amount, their current high bid will be displayed
in orange text for that particular lot. The high bid amount is a hyperlink
that will return you to the lot to place another bid.
What is the High Bid?
The "High Bid" is simply the current highest
recognized bid associated with a buyer on the auction floor or on the Internet.
If the hammer drops and the item is sold, the "High Bidder" will
win the item for sale.
What is the Asking Price?
The "Asking Price" is the next highest
bid the auctioneer is seeking to obtain to surpass the current "High Bid",
thus allowing a new bidder to take the lead and potentially win the item for
sale.
What are Bidding Increments?
The increment is the amount an item increases
in price after each new bid. It is the monetary amount used to advance the
auction to the next highest bid.
After the auction
Am I responsible for shipping and insurance costs?
The winning bidder is responsible
for contacting the auction house within 24 hours from the close of the sale
to arrange shipping. You may pick up your vehicle in our Salem, NH office or
arrange to have your car delivered by an independent transporter for a fee.
When is payment due?
Bidders will forfeit their
$300 deposit if not paid in full by Friday at 5pm.
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