As soon as you’re authorized to purchase on one (or extra) of our marketplaces, you possibly can log into your market and start bidding on-line. B-Inventory makes use of a number of key options all through our public sale course of to simulate a good “stay” public sale mannequin (however with out the fast-talking auctioneer!). This submit will information you thru the essential steps of putting a bid and train you key bidding phrases – like proxy and popcorn – to get you in on the public sale motion.  

Place a Bid:

Every public sale can have a field the place you possibly can enter your most bid; keep in mind, your most bid will must be equal to or better than the minimal allowable bid quantity listed under the field. As soon as the quantity has been entered, click on the “Bid Now” button. The system can have you affirm your bid quantity. You should definitely double verify the quantity earlier than confirming your bid. (The look of every “bid” space may fluctuate from market to market however the steps stay the identical.)

When you’re actually welcome to repeatedly log in and manually improve your bids, we recommend letting our auto-bid system do this be just right for you. Our proxy bidding course of lets patrons enter their most quantity and the system will mechanically improve your bid incrementally for you. Extra on how this works under…

What’s a Proxy Bid?

All bids positioned on a B-Inventory market act as “proxy” bids. Your proxy bid is basically your most quantity. Our system makes use of your proxy bid quantity to mechanically bid incrementally in your behalf. To get probably the most out of this method, we advocate you bid the very best quantity you’re keen to pay, which is called your most bid. As soon as entered, the system will handle the bidding for you, performing as your proxy. This affords our patrons a terrific comfort as you don’t should be on-line, on a regular basis, updating your bids in actual time. Should you want to improve your bid, you’ll be able to achieve this at any time throughout the public sale.

No must run, bidding is enjoyable! Don’t let the concept of putting your most bid scare you. Simply since you enter your most quantity doesn’t imply that’s the ultimate worth you’ll pay. The ultimate price is predicated on the utmost quantity the second place bidder would pay plus one increment greater.

How Proxy Bids Work: 

Let’s say there may be an public sale that pursuits you with a beginning bid of $1000. You resolve the very best you’d pay for the public sale is $5000, so that you enter that as your most bid. You at the moment are successful the public sale at $1000. If one other bidder is available in and bids $1100 as their most, then your bid of $5000 will mechanically outbid them one increment greater as your proxy. You at the moment are successful the public sale at $1125 with out ever having to bid a second time to be sure to keep the excessive bidder. The system will proceed to mechanically outbid different bidders as your proxy, however won’t ever exceed your most bid of $5000.

If one other bidder inputs a most bid over $5000, then you can be outbid. You’ll obtain an e-mail notification and can then have the selection to enter a brand new most bid to behave as your proxy, or transfer on to a different public sale.

Bidding Increments:

So what are the bidding increments? We’ve damaged it down like this:

Any public sale heaps promoting for lower than $10,000 improve in increments of $25; whereas something fetching between $10,000.01 and $50,000 will improve in increments of $50. Lastly, public sale heaps going for greater than $50,000.01 will improve incrementally by $100.

Bidding Notifications:

We worth transparency right here at B-Inventory and demand on retaining our patrons updated throughout the public sale course of. Actual-time data is all the time obtainable on the public sale web page and inside your account web page; as well as, you’ll obtain a wide range of e-mail notifications alerting and confirming your public sale actions each step of the best way!

For each bid you place, you’ll obtain a affirmation e-mail. In case you are at the moment successful an public sale lot you can be offered an e-mail alert. Additionally, you will be notified in case you’ve been outbid, misplaced or received an public sale.

**Professional Tip! Join our B-Inventory SMS textual content public sale alerts in your account web page. Keep updated in actual time and by no means miss a bidding notification.**

What’s Popcorn Bidding? 

If a bid is positioned within the final 5 minutes of an public sale, the public sale finish time will mechanically lengthen for an extra three minutes. That is known as “Popcorn Bidding” and it offers all bidders an equal likelihood of successful an public sale if a last-minute bid is positioned. Popcorn Bidding is used to stop different bidders from coming in and “sniping” an public sale on the final second.

On the shut of the public sale, the successful bidder is notified by e-mail. The “Bid Gained” e-mail will embrace fee directions;  please observe these directions so the transaction can transfer ahead in a well timed method. As soon as the order is paid, you’ll obtain one other e-mail confirming fee, which may also embrace transport directions. Please observe these transport directions accordingly.

This may also present up as an order on the “Order” web page beneath the “Account” dropdown within the prime proper of the web page.

B-Inventory considers all bids to be binding authorized contracts. Please bid very rigorously. Should you want to cancel a bid, please know cancellation payment could apply and a be aware of it will likely be made in your report. Please perceive that in case you proceed to cancel bids, you run the danger of being denied on .

Received questions? Contact us!

The submit Shopping for Fundamentals: On-line Bidding for Learners appeared first on B-Inventory Options.

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