What to Expect When Bidding in Internet Live Auctions

So, you're finally ready to bid online in some live auctions. You've done all the research, you're registered, you've asked the right questions, and you know how much you want to bid. But you may be wondering how you actually go about placing your live bid.



Mark Your Calendar and Login
It might seem obvious, but you'd be surprised at how many people forget about an auction or get confused about the day. Unless you are submitting an absentee bid, you must be online during the live auction.
Auction sites will typically have countdowns showing the amount of time left before the auction begins. Once the auction begins, click the button to enter the auction.

Navigating the Live Auction Screen
A new window should appear featuring the live auction. Depending on the seller, there may be live video or audio of the event. More important, there will be several columns that will tell you what's going on.
One column will show an image and/or description of the item. If you click on the item, a new window will open and take you to that item's entry in the online auction catalog.
Another column will show you the status of the current bid. If someone places an in-person bid, the notice will say "floor" to represent auction floor. If a person places bid online, that bid will be marked with that person's username.
On the screen you will also see status messages and messages sent by the auctioneer that are separate from the current or asking bid. For example, a message will appear when a lot opens for bidding and another will appear when it is closed. Sometimes auctioneers will ask if there are any more bids.
There should also be a column showing the queue of all of the items in the live auction.

The Waiting Game
There can be hundreds of items up for bid during an Internet live auction so you will probably have a bit of a wait before your lot. However, don't stray too far away from your computer. Lots can go quickly, especially if a lot closes without bids or if there are unchallenged absentee bids.
Watching how people go about bidding online may prompt you to re-think your own bid. You may also discover other items that you can't afford to pass up. Logging in early has the extra benefit of making sure that everything works on your computer and allows time to fix any glitches.

The Main Event - Live Bidding Online
Remember, you must be registered, approved, and logged in before you can bid. The approval process varies by auction house, so make sure you don't wait until the last minute.
From the live auction screen you will see a bid button featuring the current asking price. If that amount is acceptable, click the button and wait to see if anyone outbids you. The process will continue until no one else bids.
Finally, if you win your item, the auction house will contact you to go over payment and shipping/pick up arrangements.



Bid live online in upcoming live auctions at http://www.icollector.com/about.aspx. William J. Walberg is a freelance writer who writes articles in the auction and technology industries.