Understanding a Timed+ Sale
This auction format is known as a 'Timed+' auction. That means that bidding through SRAG-Live or LiveAuctioneers involves multiple items, or 'lots', being open for bidding at the same time. Unlike traditional auctions where lots close one at a time, in this system, each lot begins closing at a specific time, staggered one minute apart from the previous one. This means multiple items could be open for bidding simultaneously.
To keep track of the different lots, keep your screen open to the view showing all the lots that are currently active. A countdown timer will appear for each lot when it's about to close.
A unique feature of this auction is that if a bid is placed in the last 15 seconds of a lot's countdown, an extra 15 seconds is added to the timer. This extension continues every time a new bid is placed in the final 15 seconds. This means a lot may remain open for bidding, even while others start to open and close.
For example, when lot 1 starts its final countdown at 10 am, if new bids keep coming in the last 15 seconds, lot 1 will remain open past 10:01 am when lot 2 begins. This is why it's important to keep track of all active lots, as multiple items could be open for bidding at the same time.
To ensure you have the best chance of winning the items you want, we recommend placing your maximum absentee bid as early as possible. Once you set this 'max bid', the system will automatically and anonymously place bids on your behalf, up to your set limit. This means you can focus on other items without worrying about losing out on a desired lot due to simultaneous closures.
If two bidders place the same max bid, the item will go to the person who placed their max bid first. Happy bidding!
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