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Getting Began: On-line Bidding for Newbies

Getting Began: On-line Bidding for Newbies


As soon as you’re accepted to purchase on one (or extra) of our marketplaces, you possibly can log into your market and start bidding on-line. B-Inventory makes use of a number of key options all through our public sale course of to simulate a good “dwell” public sale mannequin (however with out the fast-talking auctioneer!). This submit will information you thru the fundamental steps of putting a bid and train you key bidding phrases – like proxy and popcorn – to get you in on the public sale motion.  

On-line bidding for inexperienced persons, defined 

An auction-style format means potential consumers compete in opposition to one another to win the merchandise being bought — on this case, numerous liquidated items. On-line bidding could be a enjoyable and thrilling means to buy bulk quantities of stock throughout a variety of product classes like attire, residence & backyard, shopper electronics, and extra. On-line bidding for inexperienced persons can really feel overwhelming, however we’ll train you precisely how one can place a bid and safe the stock you’re on the lookout for.

Place a Bid:

Every public sale may have a field the place you possibly can enter your most bid; keep in mind, your most bid will should be equal to or higher than the minimal allowable bid quantity listed under the field. As soon as the quantity has been entered, click on the “Bid Now” button. The system may have you affirm your bid quantity. Make sure to double-check the quantity earlier than confirming your bid. (The look of every “bid” space may differ from market to market however the steps stay the identical.)

Whilst you’re actually welcome to repeatedly log in and manually improve your bids, we propose letting our auto-bid system try this give you the results you want. Our proxy bidding course of lets consumers enter their most quantity and the system will routinely improve your bid incrementally for you. Extra on how this works is under…

What’s a Proxy Bid?

All bids positioned on a B-Inventory market act as “proxy” bids. Your proxy bid is actually your most quantity. Our system makes use of your proxy bid quantity to routinely bid incrementally in your behalf. To get essentially the most out of this method, we suggest you bid the very best quantity you’re prepared to pay, which is named your most bid. As soon as entered, the system will handle the bidding for you, appearing as your proxy. This gives our consumers nice comfort as you don’t should be on-line, on a regular basis, updating your bids in real-time. In the event you want to improve your bid, you’ll be able to achieve this at any time throughout the public sale.

No must run, bidding is enjoyable! Don’t let the thought of putting your most bid scare you. Simply since you enter your most quantity doesn’t imply that’s the ultimate value you’ll pay. The ultimate price is predicated on the utmost quantity the second-place bidder would pay plus one increment increased.

How Proxy Bids Work: 

Let’s say there’s an public sale that pursuits you with a beginning bid of $1000. You resolve the very best you’ll pay for the public sale is $5000, so that you enter that as your most bid. You are actually profitable the public sale at $1000. If one other bidder is available in and bids $1100 as their most, then your bid of $5000 will routinely outbid them one increment increased as your proxy. You are actually profitable the public sale at $1125 with out ever having to bid a second time to ensure you keep the excessive bidder. The system will proceed to routinely outbid different bidders as your proxy, however won’t ever exceed your most bid of $5000.

If one other bidder inputs a most bid over $5000, then you’ll be outbid. You’ll obtain an e mail notification and can then have the selection to enter a brand new most bid to behave as your proxy or transfer on to a different public sale.

Bidding Increments:

So what are the bidding increments? We’ve damaged it down like this:

Any public sale tons promoting for lower than $10,000 improve in increments of $25; whereas something fetching between $10,000.01 and $50,000 will improve in increments of $50. Lastly, public sale tons going for greater than $50,000.01 will improve incrementally by $100.

Bidding Notifications:

We worth transparency right here at B-Inventory and demand on holding our consumers updated throughout the public sale course of. Actual-time info is at all times accessible on the public sale web page and inside your account web page; as well as, you’ll obtain quite a lot of e mail notifications alerting and confirming your public sale actions each step of the best way!

For each bid you place, you’ll obtain a affirmation e mail. In case you are at present profitable an public sale lot you’ll be supplied an e mail alert. Additionally, you will be notified in the event you’ve been outbid, misplaced or gained an public sale.

**Professional Tip! Join our B-Inventory SMS textual content public sale alerts in your account web page. Keep updated in actual time and by no means miss a bidding notification.**

What’s Popcorn Bidding? 

If a bid is positioned within the final 5 minutes of an public sale, the public sale finish time will routinely lengthen for a further three minutes. That is referred to as “Popcorn Bidding” and it offers all bidders an equal probability of profitable an public sale if a last-minute bid is positioned. Popcorn Bidding is used to forestall different bidders from coming in and “sniping” an public sale on the final second.

On the shut of the public sale, the profitable bidder is notified by e mail. The “Bid Received” e mail will embody cost directions;  please observe these directions so the transaction can transfer ahead in a well timed method. As soon as the order is paid, you’ll obtain one other e mail confirming cost, which may also embody delivery directions. Please observe these delivery directions accordingly.

This may also present up as an order on the “Order” web page beneath the “Account” dropdown within the prime proper of the web page.

Why did my bid get canceled? 

Typoed bids are a number one reason behind canceled bids. Please learn all pop-up confirmations, public sale lot particulars, and manifests rigorously. Moreover, bidders ought to do their product analysis earlier than bidding.

B-Inventory considers all bids to be binding authorized contracts. Please bid very rigorously. In the event you want to cancel a bid, please know {that a} cancellation charge could apply and a be aware of will probably be made in your report. Please perceive that in the event you proceed to cancel bids, you run the chance of being denied on {the marketplace}.

On-line bidding doesn’t should be laborious! In the event you’re a newbie, we’re right here to assist. Acquired questions? Contact us!

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