What is a Timed Online Auction and how does it differ to other auctions?
A timed auction runs for a defined period of time. At the closing time, lots will begin to close independently at one-minute intervals. As the auction progresses, you will have the opportunity to place bids from the moment the catalogue is live. If we receive a bid within 5 minutes of closing time, the time to bid will be extended by 5 minutes to give an equal opportunity to all bidders. A lot can be extended any number of times.
Timed auctions offer the comfort of bidding in confidence while ensuring every bidder has enough time to make a decision.
You can modify placed bids at all times (‘My Account’ – ‘My Bids’). Within 2 hours before the first lot of the sale closes, bids can no longer be retracted or reduced.
Please note that a 2% surcharge applies to all winning online bids.
How to Bid in a Timed Online Auction
1. Create an account & register to bid
If you haven’t already, create an account (it’s free and takes seconds to complete). A credit card will be required at this stage for verification purposes. Gibson’s does not store any credit card information and will not charge the card without permission.
Click ‘Register to bid’ on the lot page, which sends a request directly to our staff. You may be asked for some information, including a copy of your photo ID if you are a first-time bidder. Once you are an approved bidder with Gibson’s you will not need to provide this information again.
2. Check your email
Once your registration has been approved by Gibson’s, you’ll receive an email notifying you that you are now able to bid. Your status will remain ‘pending’ until you are approved by a staff member. You are still able to browse and bid whilst pending. Pending bids are actioned automatically once you are approved.
3. Place your bid
You can place an absentee bid during the timed online auction – we recommend leaving the highest bid you are comfortable with. Bidding will slowly increase to this maximum only if there are competing bids. If you are outbid, you will be notified via email and your online profile. You can then up your bid, if necessary.
5. Congratulations, you won!
After you win, we can help you navigate the Payments, Collections & Shipping process. Gibson’s requires payments and collections to occur within three days. Book a time for an in-person collection via the online booking link on your invoice or call 9500 2607.
Note: Be sure to review the Terms and Conditions for each sale and contact us directly if you have any questions.