You may bid by placing an Instant bid or by placing a maximum bid (Proxy Bid)If you bid at an online auction by placing maximum bid (Proxy bid), you are responsible for monitoring the online auction in which you are participating and acting in the auction by instructing Proxy bid with your bids.Proxy bid will always start at the bid increment above the starting bid or the current highest bid. If you want to match a current or starting bid you must submit a normal bid.If you do not leave a Proxy bid amount, the bid amount that will appear when you submit a normal bid will apply.An online auction will start at the specified time and bidding will start at the nominated minimum starting price.All bids placed at an online auction must be made on a per-item basis, and may only be increased by multiples of the posted bid increment.
Every auction closes at the end of the time period specified for that online auction where there are no new bids during the 5 minutes immediately preceding the end of the time period specified. If there are any successful bids on a particular lot/item within 5 minutes of the close of the online auction (the going, going, gone period), the auction will continue to be extended until there are no more within the Refresh Period. Due to circumstances beyond our control, the Refresh Period may vary from time to time by a number of seconds. ALLBIDS accepts no responsibility for any circumstances or incidents arising as a result of any slight variations that may occur in the Refresh Period
All auctions are set to close at a certain time.If a winning bid is placed within the last 5 minutes of the set closing time, the closing time will be extended automatically by a further 5 minutes.If a bid is placed within 1 minute of closing time, and that bid is immediately beaten by another bidder's proxy bid, the auction will be extended for 1 minute to give you a chance to rebid.This likens the Auction to live auction where the bidding only ends when everyone is certain they do not want to place a further bid. It also stops the winning bidder “sniping” a bid 1 second before the end of an auction.How it works:
Auction closes at 7.30:00 PM
The bidding is at $90A bid is placed at $100 at 7:29:10 PM
The new close time for the auction is set at 7:35:00 PM
At 7.30:00 the last call comes again.
If there is a winning bid placed between 7:30:00 PM and 7:35:00 PM the new close will be 7:40:00 PM.
Example of a 1 min Extension for bids that got beaten by proxy:
Auction closes at 7.30:00 PMThe bidding is at $90
A bid is placed at $100 at 7:29:30 PM, but get beaten by a proxy bid.
The bidding is at $105
The new close time for the auction is set at 7.30:30 PM
If there is a winning bid placed between 7:29:30 PM and 7:30:30 PM the new close will be 7:35:30 PM.