Online Only Auctions allow bidders to place bids via the internet without physically being at the Auction site. With this platform style there is no option to bid live. Lambrecht Auction utilizes this platform when an Auction may present various logistic challenges or it offers a greater convenience to the bidders. We have found many bidders have embraced the online only as it offers many conveniences to them.
We still (and will continue) to conduct Auctions with live bidding, this is just another tool we have to offer our sellers and buyers. Please read some of the features to below so you can best maximize you online only experience.
To Check out our current Online Only Auctions Please CLICK HERE
Our Online Only Auctions begin to “close” or “end” at the advertised time. Please observe the closing time list in the details of each of your desired lots. Typically, our Building Material Auctions have a 10 second closing stagger between consecutive lots. This feature is intended for bidders to manageably follow multiple lots with ease. We do our best to make lot staggers not end too quickly, but not consume too much of your time.
Approximately 15 minutes prior to an Auction beginning to close, a button appears on the screen in the top right hand side, adjacent to the “details” and the “register to bid” button. This button is titled “Live View.” By clicking this button bidders can view the items as they are closing with a live counter. If a bid is received the item flashes and the counter resets. If the counter ends, items closes and fades off the screen. This feature makes watching multiple items very easy to manage. Bids can be instantly placed and seen by everyone watching, very similar to being at a live Auction. This feature, in our opinion, makes the bidding process much easier and more fun for the buyer. Please try it, we think you will like it.
3 Minute Soft Close:
If a lot receives a bid in the final 3 minutes prior to closing, then the bidding clock resets for an additional 3 minutes. This process continues to repeat itself every time a bid is received until no more bids are received. At which time, the counter will count to zero and the lot will close.
Some groups of items are “linked” together for the 3 minute soft close. This means that all of the lots linked in the same group will operate on the same counter and will close at the same time. If a bid is extended on one item in the linked group it is extended on all. The lot will appear on the catalog page and look like this: “Linked-10.” We use this feature typically on like kind items were we might offer high bidder choice in a live Auction. Example: the five cabinets are linked, so if anyone bids on ANY cabinet set within the final 3 minutes, bidding on ALL cabinet sets will extend for 3 minutes. This feature is advantageous to bidders because it replicates a live choice situation. The benefit to a buyer with this tool is that if they can ensure they get all the lots in that group they desire, or if they are out bid on one preferred lot they can bid on the second lot of preference.
Items Sold by Quantity
Please note that like our live Auctions, items are being sold by a unit price multiplied by the quantity for a total purchase price (E.g. 48 pc x $2 = $96). Some items are sold by the piece, or square foot, or linear foot, or square, etc. so please pay attention. We have done our best to identify this with each lot.