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<p>[QUOTE="medoraman, post: 7300124, member: 26302"]Usually the presale all ends at the same time. Then the live auction happens. Let's say you bid $1000 and the next closest competitor to you on the presale was $450. You are winning at $500, yet you bid $1000. When the live bidding comes up, others will be able to bid $550, and your presale bid increases to $600 to outbid them. All the way up to $1000. However, if the live bidder bids $1100, you are out. </p><p><br /></p><p>That is basically how it works. If you "HAVE to have it", either attend the live sale (virtual) or throw just a ridiculous number on it, like $15,000 on a $500 estimate, and hope it works out. Another option could be to hire a representative who will be attending the sale, (pre-Covid this would be in person but now maybe just virtually), give them a max number and have them bid. Have them call you if it goes over your max.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 7300124, member: 26302"]Usually the presale all ends at the same time. Then the live auction happens. Let's say you bid $1000 and the next closest competitor to you on the presale was $450. You are winning at $500, yet you bid $1000. When the live bidding comes up, others will be able to bid $550, and your presale bid increases to $600 to outbid them. All the way up to $1000. However, if the live bidder bids $1100, you are out. That is basically how it works. If you "HAVE to have it", either attend the live sale (virtual) or throw just a ridiculous number on it, like $15,000 on a $500 estimate, and hope it works out. Another option could be to hire a representative who will be attending the sale, (pre-Covid this would be in person but now maybe just virtually), give them a max number and have them bid. Have them call you if it goes over your max.[/QUOTE]
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so, new to the auction game...a question...
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