Our objective is to make your experience participating in our auctions as easy as possible.
If you’re new to our online auctions or would like a refresher on how things work – we’re always here to help.
If you have participated in our previous online auctions, you may have noticed that we have simplified the bidding process. Our two previous types of bids (“Quick Bid” and “Proxy Bid”) have now been integrated into a single bidding interface.
What remains the same is that once you hit the “Submit” button on any bid, it is a legally binding agreement between you and Waddington’s confirming your intention to buy the lot in question. Please check our Terms & Conditions for more information.
If there are no other bids on a lot, the first bid is called the starting bid. It is the lowest bid accepted for that item—and kicks off the bidding process.
When you’re the first person to bid on an item, the bidding amount dropdown list will automatically select the starting bid amount on your behalf. You can begin to bid at the starting bid, or select a larger max bid (see below).
Should a higher bid be placed by someone else, you will be notified by email and in your account (in the “Notification” section) on our website .
If a lot has already been bid on, then the bidding amount dropdown list will automatically show you the next bid that you would need to place in order to become the highest bidder.
The next bid is determined by the auction’s bidding increments. You cannot place a bid for an amount lower than the next bid.
If the next bid you place is higher than your competitor’s, then you will be immediately notified that your bid has been accepted and that you have become the highest bidder. If your competitor has placed a max bid (see below) that is higher than your next bid, our website will notify you and encourage you to bid a higher amount.
A max bid (also known in the industry as a proxy bid, autobid or an absentee bid) is a great tool if you’re not sure if you will be online when the auction is ending or if you’d like to set a specific budget. Simply select the maximum amount you would be willing to pay for the item and let the software do the bidding for you.
- To place a maximum bid simply select an amount from the bid amount dropdown list that is higher than the starting bid or next bid.
- The software works on your behalf to ensure you get the item for the lowest possible price, up to the amount that you have specified.
- If there are no other max bids registered, the system will not jump to your maximum bid immediately. It will simply outbid any other bidders by only one bidding increment.
- If there are no other bidders, the bidding will remain where it was when you set up the max bid.
Can I change my Max Bid?
Max bids can be raised or lowered at any point prior to the lot closing. However, max bids can only be lowered to the current bid for that lot — bids that have already been executed cannot be retracted. For example, if bidding started at $500 and you have a max of $1,000, but the current bid is now $750, the lowest amount you can update your max bid to is $750.
We always recommend that you secure your bid in advance. Whomever submits their bid first will be recorded as the highest bidder (e.g. if Bidder A submits the same max bid on Monday that Bidder B submits on Tuesday, Bidder A will be the winner of the auction).
If you have placed a max bid and immediately see the bid jump up to its total amount, this is due to another bidder having placed a similar or higher max bid. You will then need to decide if you want to continue bidding, either by setting up a higher max bid or entering the next bid.