iRostrum

Bidding in a Live Auction

In a Live Auction, the action from the saleroom on auction day is live-streamed to the online audience who can bid live against bidders in the room or beyond.

The closing of each lot is controlled by the auctioneer and lots will close sequentially.

Online bidders can place 'Advance' bids so that the system will bid up to their maximum against any other bids once bidding goes live for that lot on the day of the auction, or they can bid in real time once the auctioneer opens live bidding on that lot.

The Successful Bid in any Auction is the first highest bid as registered by the system that equals or exceeds the reserve price - whether online or offline - at the ultimate discretion of the Auctioneer.

Bidders can submit 'Advance' bids from the moment the auction lots are published online until the moment the auctioneer opens the lot for 'Live' bidding.

 

Bids are submitted blind, meaning any advance bids placed are not published and the current bid level is not shown.

 

Advance bids will be automatically implemented by the system when bidding on the lot goes 'live' on the day of the auction.

 

The bid will always be at the lowest possible level in line with bid increments, subject to the reserve price and any other bids placed on the lot.

 

Bids should be entered as whole numbers with no currency symbol or punctuation.

 

Click on [Place Bid] to submit.

 

Once submitted the Advance Bid is confirmed on the screen. In a Live Auction, advance bids can be cancelled at any time up until the auctioneer opens the lot for 'Live' bidding. Just click on the [X] to cancel the bid.

Once the auctioneer opens a lot for 'Live' bidding the bid input field is replaced with a [Bid] button.

 

The bid level indicated on the [Bid] button is updated in line with the auctioneer. Clicking on [Bid] will submit a bid at the indicated level. 

 

The bid notification bar at the top of the screen updates the current bid level and other notifications from the auctioneer. If the viewer is bidding on a lot the notifications are personalised for further clarity, indicating if the bid is with them or against them.

 

The bid stack shows the bids placed on the lot and whether they came from an online or room bidder.

 

The auctioneer will indicate if the lot is due to close by calling 'Fair Warning' before closing the lot.

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