Frequency Asked Questions: What is Proxy bid? What is Buyers Premium?
Lot Number: 0 Ask Seller Question
Item Location: Banning: Sun Lakes Community
Preview Date/Time: Online Preview Only
Pickup Date/Time: Saturday, March 23rd 9am-12:30pm
Start Date/Time: 03/16/24 6:00 AM
End Date/Time: 03/20/24 7:06:00 PM
Opening Bid: $5.00
Bid History:
Current Bid:
Minimum Bid:
Auction has ended.


1. What is Max Bid or Proxy Bid:

PROXY BID OR MAX BID: Proxy bidding or Max bid, sometimes called absentee or automatic bidding, is a method for online auction bidding. How it works is the person who wants to bid on an item decides a maximum amount that he or she is willing to pay for it in advance and bids this amount. That bid is hidden in our system.  As other bids are made, our system automatically increases the person's bid by pre-specified increments until the maximum amount is reached. If the bidder is monitoring the auction, at this point he/she can give up or choose to increase his bid. You don't have to continually monitor an auction to win an item, and they can bid on several items at once.

2. Why is there a Buyers Premium?

Most auctions weather an auction house or online charge a buyers premium. There are several reasons an auction house may choose to charge a buyer’s premium. For most auction, especially smaller ones, the buyer’s premium helps to cover the costs of running the auction and its ongoing auctions. There are many costs that go into an auction that people don’t consider or even know about. These costs include auction software (to keep track of items for both the seller and the buyer), advertising & marketing, staff wages, time spent taking pictures and creating on-line catalogs for the auction, auction pick up day and general upkeep.

3. What does “hard close” or “no extended bidding” mean?

when the time of a particular auction closes, there is no additional time to continue bidding. When the time runs out- it is over.


*When you place a bid, you are making a commitment to follow through with payment and pick up- It is a binding contract*
-Reminder: Sales tax and Buyers premium is added to invoices- Please bid accordingly
-MUST BRING OWN HELP with Moving heavy items, dolly, boxes, packing supplies, tools, etc. 
-Prepayment is required by Thursday 6PM to hold your items. Restocking fee is 40% if you do not follow through with payment.
ick up is Saturday 9:00am-12:00pm ONLY. BRING HELP, PACKING SUPPLIES, AND TOOLS NEEDED.
-ALL SALES ARE FINAL- Please inspect your items before leaving the property. 

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