Questions about Onine Auctions?
What is an online auction?
An online auction is similar to our regular live auctions except that it is conducted entirely over the internet. In effect, the software system is taking the place of the auctioneer in controlling the bidding and closing of the lots being sold.
When does the online auction end?
The auction ends at the time indicated in the auction description, generally 8 PM MT on the date specified. The lots will close in succession at intervals of 15 seconds, i.e. lot 36 will close 15 seconds after lot 35.
What is the automatic bidding extension?
There is an automatic 2 minute bidding extension if a bid is submitted on any lot within the last minute on the bidding clock. These time extensions will continue until there is a 2 minute period during which no bidding takes place on any lot.
How do I set up an online bidding account?
Go to our bidder registration page for the auction. This can be found in the online/web catalogue for each sale. If you have previously registered you can enter your username and password and proceed with registering for the auction. If this is your first time registering you will be asked to provide personal information and register either a Visa or Mastercard on the sign up page.
How do I bid?
Each lot in the auction has a clearly marked bidding window. Once you are registered into the auction there are two ways to bid:
1.) You simply indicate the maximum amount you wish to bid in the window where indicated and click on the “Place Bid” button. You will be taken to a confirmation screen that will ask you to either “Confirm Bid” or “Cancel Bid”. If you have not yet logged in you will be asked to do so in order to confirm your bid. Please note that by confirming your bid you are entering into a legally binding contract with the auction house to pay for your successful bids plus the applicable buyer’s premium and taxes.
2.) Bid in real time as each lot is closing just like our live auctions. You will be required to bid, and confirm your bid, for each increment that you are advancing. In effect, you are taking the same steps as in the method above, but are not disclosing your maximum. You are doing the work instead of relying on the software.
How much should I bid?
It's entirely up to you, the simplest way is to always indicate your top bid - the amount to which you would bid if you were attending an auction in person. The bid submitted is similar to the live auction’s absentee bid. In effect, the software will hold your bid in confidence and will bid on your behalf, against competing bids, according to the published increments up to the amount you are prepared to bid. For example, if the current high bid on a lot is $300 and you are prepared to bid up to $550, our software system will accept & implement your first bid at $ 325. If another bidder then bids $ 350, our system will automatically submit a bid of $ 375 on your behalf. If there is no additional bidding, then you will be successful at the $375 hammer price.
What are the bidding increments?
Bidding typically begins below the low estimate and generally advances in the following bid increments:
|up to $ 200||$ 10|
|from $ 200 to $ 299||$ 20|
|from $ 300 to $ 499||$ 25|
|from $ 500 to $ 999||$ 50|
|from $ 1,000 to $ 1,999||$ 100|
|from $ 2,000 to $ 4,999||$ 250|
|from $ 5,000 to $ 9,999||$ 500|
|from $ 10,000 to $ 19,999||$ 1,000|
|from $ 20,000 to $ 49,999||$ 2,500|
|from $ 50,000 to $ 99,999||$ 5,000|
|$ 100,000 & over||$ 10,000|
Can I place an absentee bid?
Yes, we are pleased to accept absentee bidding by telephone or fax if you are uncomfortable with or unable to bid by your computer. Please call us during regular business hours to arrange absentee bidding. Absentee bids will generally be accepted until Noon MDT the day of the sale. In instances where the sale closes outside of a regular work day, absentee bids will be accepted until 4 PM the last work day prior to the auction closing.
How can I see all my bids?
Log in to your bidder’s account by entering your username and password. You will see a toolbox that contains your current bids, your bid history, and your bidder information.
Why do I have to refresh my web browser during bidding?
If you are using the full catalogue listing this will ensure that you viewing the latest bidding and time data. We recommend that you refresh frequently if you are watching the closing moments of particular items of interest.
If you use the live catalogue there will be no need to refresh. The current closing lots will always be shown with an accurate countdown clock.
How do I know the auction is over?
You will see no time left on the clock on a currently refreshed online auction page. You will also view a statement that the auction bidding is now closed.
I am the highest bidder. What do I do now?
Congratulations! The morning after the auction we will send you a notification by email. An electronic invoice will be sent shortly thereafter for successful purchasers.
How do I complete payment for my purchases?
According to the terms and conditions of the auction, bids left online or through any other means of absentee bidding will be processed according to the credit card information provided at the time of bidding. If alternate payment arrangements are desired this must be made explicit to the auction house at the time of bidding. Once payments are processed an electronic receipt will be sent by email.
How do I pick up my purchases?
The purchaser shall collect the purchased lots from our offices within three days from the date of the auction sale, after which date the purchaser shall be responsible for all storage charges, per the terms and conditions of the auction, until the date the lot(s) are removed.
Office hours are Monday through Friday from 9:00 AM to 5:00 PM.
Can you ship my purchases to me?
Yes. We contract the packing, shipping & insuring through a third-party provider. Currently we are recommending:
The UPS Store, Suncor Energy Centre
#100, 111 5th Ave. SW
Calgary AB T2P 3Y6
Manager: Jay Kim