Frequency Asked Questions: What is Proxy bid? What is Buyers Premium?
Lot Number: 0 Ask Seller Question
Item Location: Covina, CA 91722
Preview Date/Time: Online Preview: Text Questions to Tracie 909-835-0966
Pickup Date/Time: Saturday, November 4th 8:45am-12:30pm
Start Date/Time: 10/28/23 7:00 AM
End Date/Time: 11/01/23 7:07:00 PM
Opening Bid: $5.00
Bid History:
Current Bid:
Minimum Bid:
Highbidder:
Auction has ended.

Description:

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.

**If you end up using our muscle, a tip is appreciated**
PLEASE READ BEFORE BIDDING:
-MUST BRING OWN HELP with Moving heavy items, dolly, boxes, packing supplies, tools, etc. 
-Prepayment is required by Thursday 6pm to hold your items.
-P
ick up is Saturday 8:45am-12:30pm ONLY.
-ALL SALES ARE FINAL- Please inspect your items before leaving the property. 

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