An auction is a public sale where items are sold. A lot is an item or group of items within an auction, and a lot is sold to the person with the highest bid (offer of money). There is a time frame for bidding to take place and you must place your bid before the lot (item in an auction) closes.
Traditionally, bidders would gather in person in front of an auctioneer who would call out the lots one at a time and take bids from the audience. These days, our auctions are online which makes them accessible for everyone across Australia or around the world!
Bids are taken on our website and must be placed before the closing time. If someone bids within the last 15 seconds of a lot’s closing time, the time will extend giving everyone else a chance to bid again.
We know this might sound overwhelming, that’s why the first lot of our online auctions is an ‘L’ plate where online auction learners can practice their bidding on an imaginary lot. Don’t worry, you aren’t actually bidding for real, just practicing!
If you would like more help or information, just click below to contact our friendly team.