Interbid Bidding Practice FAQ Requirements

Frequently Asked Questions

Can I pay by credit card?
Yes credit card charges will apply, or you can pay by cash, bank cheque or EFTPOS.

If I leave a bid limit ahead of the auction, will bidding start at my limit?
In general bidding will start well below your limit and the system will bid for you until you get the lot or the limit is reached. In fact where the bidding starts is up to the auctioneer, the only time bidding could start at a left limit is when the limit is below the reserve price.

Does it show my upper limit?
No your upper limit is not shown to anyone, not the auctioneer, the webcaster or to anyone watching.

If I place a bid limit does bidding jump to that limit?
No, the system will bid for you, until the limit is reached or you get the lot. You could end up paying a lot less than your limit.

Can I bid one increment at a time like I normally do at auctions?
While Interbid Live has a patented speed advantage that makes it the fastest live auction webcast system in the world, there are still unavoidable delays with Internet bidding. Unless you are reasonably quick there is a good chance that a single increment bid does not make it to the auctioneer in time.

What's the best bidding strategy?
Well using the "Go to lot" button to set a absentee bid limit is really great for giving you the best chance of getting a bid in no matter how fast the auction goes. If you can, set the absentee to about 80%-90% of the maximum you would pay and then if the bidding approaches the absentee bid increase it to your maximum. Note this bidding tip relies on increasing your limit before the bidding gets to it, so you always have an active limit in place. Its an art, but worth practicing.

I left a bid limit well ahead of time, but the lot sold for that exact amount to someone else?
It is not uncommon for the bidding pattern to fall such that you don't get your final bid at your absolute limit. It is entirely up to the auctioneer whether they take a live bid from the auction floor or a bid form the Internet.

Can I listen to the auction over a 56k modem?
Normally yes, the auctioneers voice is compressed so it can fit down a 56k modem along with the auction data. If you find that auction runs slowly or intermittently, try it with the sound off.

How can I pratice using the system?
If you have not used the bidding system before its very important you try the offline demo before the auction.

What is single click?
If you have used the Interbid system to bid at auction you may have noticed that it is sometimes hard to get a bid in in time, because you have to first click to enter the bid and then click agian to confirm it. Under the "Preferences" tab you can select "Single Click" to remove the need to confirm you bids. This can be a great help but should only be used by expreienced bidders.

Should I bother to go to the auction?
It's always best to attend the auction in person if possible. Internet bidding is offered as an extra service for people that cannot easily get to the auction.