Automated Max-Bidding
There are one or several items you're interested in, but you know you can’t make it to the show. Don’t worry, we’ve just released the perfect feature for you, which allows you to bid automatically on these items while defining a maximum budget.
Wanna know how to do this? Let’s go 👊
Placing an Automated Max-Bid on an item
Everything happens at the show level, so it means that you’ll have to first browse the upcoming shows and check out the list of the items to be sold during these shows.
If there is an item you’re interested in, and if the show takes place in 5 days or less, you’ll be able to place an Automated Max-Bid on that item.
A couple of key additional information:
- Max bidding only works with Card and PayPal payments
- When you place a Max-Bid, we run a pre-authorization check through your payment method and that amount is locked in your Bank/PayPal account until you either win or lose the auction
- The Max-Bid you’ll set up doesn’t take into account shipping fees. It means that if you place a Max-Bid of £100 and the shipping costs amount to £5, we’ll run a pre-authorization of £105
- You can place a max bid on an unlimited number of items from an unlimited amount of shows, as long as you have sufficient funds
- You can only place one max bid per item
Frequently Asked Questions
How will I be notified if I won?
You’ll get the usual order confirmation right after the auction has been won. If you don’t get any email, it simply means that you didn’t win the auction.
How can I cancel my max bid?
You cannot cancel your max bid. Similarly to normal auctions, max bidding is binding. You’ll either lose or win the auction based on the behaviour of other bidders. If you lose, the pre-authorization will be released as soon as the auction is lost. If you win, we’ll trigger the actual charge as soon as the auction is won.
How does the system bid on my behalf?
We follow the exact same pattern as for manual bids. Bids are incrementally increasing based on the current value of the auction.
- The item value is between £1-50 >> £1 increment for each manual or automated bid
- The item value is between £50-100 >> £2 increment £ increment for each manual or automated bid
- The item value is between £100-500 >> £5 increment £ increment for each manual or automated bid
- The item value is between £500-1000 >> £10 increment £ increment for each manual or automated bid
- The item value is above £1000 >> £20 increment £ increment for each manual or automated bid
Will I know when the auction is live?
You’ll indeed receive a notification when the auction for your desired item starts. It means that if you have time, you can hop in and resume the bidding process from your max bid, if someone outbids you.
Will you consume all my max bid budget?
Absolutely not. As explained above, we follow the usual incremental bidding logic. So if you set up a max bid of £1,000 for an item and nobody outbids you, you could win that item for £30. We would charge £30 and we would straight away release the difference.
Can I know how many people placed a max bid on an item?
You’ll know how many people placed a max bid on an item, but you won’t be able to know what’s the maximum value of their bid.
When do I get my money back when I lose?
As explained above, we’ll release the pre-authorization as soon as the auction has been lost. Depending on the payment method you’ve used and your bank, you’ll see the funds back within 5 working days.