Buyers can place bids at any time, up until the end of the auction listing. Buyers set the maximum amount they’re willing to pay for an item, and our auction system automatically places bids to keep them in the lead up to their maximum.
When buyers set a maximum bid, they enter into a contract to pay up to that amount if they win the auction. Buyers may end up paying less if no one else bids close to their maximum.
The earliest bidder trumps any matching bids. Bids placed within the last 5 minutes of the auction will extend the listing by 10 minutes until no more bids are placed. The highest bidder that meets or exceeds the reserve price wins the machine.
Auctions are launched with a fair starting bid price in red, which starts below the machine’s minimum reserve price. The auction reserve price must be met or exceeded for the machine to sell. Once the reserve price is reached through bidding, the machine price will turn green, and the machine will then sell to the highest bidder.