Instructions for Bidding in Online Auctions
Bidding for our online auctions is exclusively done on the L Auction app and/or website. Below is a brief guide:
Searching for Items:
Open the website (to be announce) to browse through the auctions and the items you like. Our online auctions will be shown as TIMED AUCTIONS and marked with a clock icon.
Register to Bid:
From the e-catalog, click on ‘REGISTER TO BID’ and you will be prompted to log in or create an account. This process will ask you to enter your credit card and billing information, as well as read and agree to our Terms and Conditions.
Placing a Bid:
Click the ‘PLACE BID’ button if you decide to bid on a specific lot. If you are not logged in, you will be prompted to log in or register to place a bid. After completing the auction registration, you will be directed back to the lot details page to confirm your bid.
Bids can be placed on the online platform from the start of the auction until the lot is closed. Enter your maximum bid, the highest price you are willing to pay for the lot. The bidding platform will then place additional bids on your behalf as necessary to keep you as the highest bidder (up to your maximum bid). If two equal maximum bids are placed, the first bid received will be prioritized. If you are outbid at any point, you will receive an email notification indicating that you have been ‘outbid’. You can then choose whether to increase your bid or not. L Auction uses predetermined bidding increments, and these increments are available as options when entering your maximum bid.
Monitor Your Bids:
Once you place a bid on a lot, you will be notified on-screen if you are the highest bidder. If another bidder surpasses you, you will be notified via email, with a link to raise your bid. We recommend monitoring your lot during the auction to ensure your status as the highest bidder until the auction closes.
Reserve Price:
In most cases, a reserve price is set for the lot being offered, below which the lot will not be sold. The reserve price is confidential but will not exceed the low estimate shown.
Auction Closure:
The final closing time will be displayed for each lot on the lot details page. Lots will close sequentially with a 1 (ONE) minute interval, unless a bid is placed within 10 minutes of the scheduled closing time. If this happens, L Auction will extend the closing time of the lot by 10 minutes from the last bid. The extension of the closing time for one lot does not affect the closing time of subsequent lots. This may result in lots closing out of numerical order.
Your Purchase:
If you remain the highest bidder at the closing of the lot, you will receive an email at the auction’s conclusion notifying you of your purchase. To check the status of a specific lot, visit the individual lot page while logged into your L Auction account.
