Thursday December 30th
Auction Frequently Asked Questions
- What does a Timed Online Auction mean? It means that the auction is completely online. There is no bidding, registering or payment on-site. The auction will open on a specific date and will start closing on a certain date and time.
- What does it mean by Live Virtual Auction? This means that the auctioneers will be auctioning live over the internet and you will hear them accepting bids from online bidders on two bidding platforms. Take note that even if you are the high bidder on an item on one platform – you may not be the highest bidder on the item between the two platforms. There is no bidding done on-site. The sale is sold in sale order on the website. The auctioneer will go through each item one by one, just like it would be at a live on-site auction.
- What does the time mean by the lots on the timed online only auction?That is the time that the item will be closing. For a timed online auction, 2 items will close every 2 minutes. The auction will have a soft close – which means that the item will stay open until there are 3 minutes of no bidding on the item. If there is a minute left in bidding and someone bids, the lot will extend for another 3 minutes. Please do not wait until the last 30 seconds to bid. That seems to be when people have the most trouble with bidding. The internet isn’t perfect and takes time to refresh and not every ones internet speed is the same.
- How do I sign up to bid online?Click here to sign up. There are instructions to walk you through the registration process. You MUST accept the terms and conditions to register for the sale. If you registered and it has been a while and you haven’t been approved yet, go back through and check that you have accepted the terms and conditions.
- How do I bid online?Pre-Bid and Timed Online Only bidding – When the sale opens for bidding and you have registered, find the equipment you’d like to bid on, simply click ‘Place Bid’. You’ll be able to place a bid at the current minimum bid amount or enter a maximum bid. When you select maximum bid, enter the highest amount you are willing to pay for an item and the system will bid the lowest amount required for you to win up to your maximum bid amount. Virtual Online – The auctioneer will be asking for bids. The asking price will show up on your screen and you click on bid and it will bid that amount for you.
- What fees are on top of the purchase price?Check each auction listing to see which rates are applicable on top of the purchase price. HST is charged on all fees as well as any applicable purchase.
Online Bidding Tips:
- Please do not wait until the last 30 seconds to bid. That seems to be when people have the most trouble with bidding. The internet isn’t perfect and takes time to refresh and not every ones internet speed is the same.
- Please refresh your screen frequently to ensure you are seeing up to date information. Note that especially on cell phones/tablets, what you are seeing on the screen may not be what is actually happening on the online timed auction. Some devices do not refresh therefore causing misleading results.
- Our NextLot app only works when the sale is live streaming. The Nextlot app will be blank until the sale goes to live streaming. For timed online auctions, use your internet browser on your device as the app does not work for that.
- When will I receive an invoice? A few hours after the auction is completeyou will be e-mailed an invoice that will come with all the payment options and information. Make sure to check your junk mail if you do not receive an email. If you have not received an e-mail by the next day, please call us at 519-424-1562.
- How do I pay?Your invoice will be e-mailed and that will come with all the payment options and information. Make sure to check your junk mail if you do not receive an email. E-transfers, or wire transfers will be accepted. Contactless E-transfers and Wire transfers preferred to reduce the spread of COVID-19. ALL INVOICES TO BE PAID WITHIN 2 WORKING DAYS OF RECEIVING THE INVOICE. If you need financing, you must have that approved before the sale and a copy of approval letter e-mailed to firstname.lastname@example.org.
- What do I have to do to pick it up? Pay for it, check your e-mail for a paid invoice, print off your paid invoice, bring it with you (or send it with the person who is picking it up). Do not pick up your items if you are feeling unwell. Pick up location will be in the e-mail with your invoice.
If you have any further questions, we can be reached at 519-424-1562