Auction Bidding – Proxy Bidding
Auction lots are typically available online one week prior to the live auction event. During this time, you may place bids on auction lots, as follows:
Submit your opening bid, which must be equal to the requested starting price or next bid required (if the lot already has a bid). For example, if an item already has bids and is currently at $200, you will have to enter the next required bid amount, which you will see displayed on the screen. In addition, you can also enter a maximum bid if you would like our software to automatically increase your bid using our standard increments up to the amount you have indicated when someone places a bid on the same item. This allows us to protect your interest on that item. If you have been outbid, you will receive an email and have an opportunity to place additional bids. Bidders are not required to indicate a maximum bid; this field can simply be left blank.
During the week that the proxy auction is occurring, if you were the high bidder in an auction but have been outbid, you will receive an email reminder or a text message (this depends on whether you register with your email or with your cell phone SMS number). Please ensure that your email program accepts email from americanauctionco.com and does not flag this email as spam.
Auction Bidding
You may start bidding online several days prior to the live auction event. Some auctions close bidding at midnight prior to the auction and some auctions offer simulcast bidding, allowing you to bid right along with the live audience in real time. The auction event page of the website will indicate all of the specifics regarding each auction event. Information includes, but is not limited to:
- Auction Date
- Online Bidding Opens (Proxy Bidding)
- Inspection Date
- Location
Some Auctions Close Online Bidding at Midnight Prior to the Live Auction
Online auction events that indicate (on our auction page) that bidding closes at midnight prior to the live event will have Internet bids that are represented along with live bids at the live auction by a member the American Auction Company staff. These include a current bid and maximum bids placed by Internet bidders prior to the close of Internet bidding.
If you have entered a maximum bid, the Auctioneer uses your opening bid (the highest bid that has been automatically placed on your behalf as a proxy bid) to ask the live bidders for the next highest incremental bid. If a live bidder makes a bid, then an American Auction Company staff member will represent your bid again and will participate as your proxy in the bidding process until you have won the bid or your max bid has been exceeded by live bidding.
When the live auction has ended, you will receive an email or SMS updating you on the status of your bids. The email will either state you had no successful bids or will include a copy of your invoice for your auction purchases. Prior to the end of the auction, you will be able to pay your invoice; if you don’t pay your invoice, at the end of the auction you will be automatically charged.
