There are a number of ways to bid at auction. The type of auction can determine the ways. These include:
1. Live Bidding – This type of bidding consists of being present at the auction, or watching and listening live online. This type of bidding gives the most excitement, and gives the best chance to know the items being bid upon. When at the auction, a bidder will bid by signaling to the auctioneer, or ringman, that they wish to raise the bid to the current call. This can be accomplished verbally, by gesture, or by holding up one’s bid card.
2. Online Bidding – This type of bidding consists of bidding while watching the items. Many times auctions may consist of auctions that are only online, but the online bidder may be bidding against bidders using other means of bidding. This type of bidding allows for visually seeing the numbers, and bidding from the comfort of home.
3. Phone Bidding – In this type of bidding, the bidder registers before the auction to bid by phone. About 5 lots before the lot, or lots, to be bid on the Bid Assistant calls the bidder. The Bid Assistant communicates directly with the bidder live during the auction, and bids for them at the live auction. Very often this is used for high dollar lots and property. Bidders often have specific bid assistants with which they prefer to work.
4. Absentee Bid – In this type of bidding, the bidder places a bid before time that they would like to be their opening bid, and then a maximum bid. The Auctioneer will begin bidding with the highest opening bid of the absentee bids, or online pre-bids.
5. Sealed Bid – In this type of bidding, the bidders get an opportunity to bid one time against all bidders. The bids are all opened at a specific time, and the winning bidder is had based on the rules of the auction.
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