Timed auctions have been a reality for a long time in America, but they are also gaining ground in Europe and Italy.
As in traditional auctions, the service is characterized by the fact that the price is derived from a negotiation in which the buyer decides the price he is willing to pay.
The operation is simple: the good is put up for auction at a fixed minimum price, below which there will be no assignments. The increases in bids are made based on a figure calculated on the percentage of the "auction base" that is accumulated at the starting price of the negotiations.
In the event that offers are made on a lot, the person who made the highest offer is the winner and is assigned the good.
In addition to a minimum value, there is also another constraint in the negotiations represented by a maximum duration of the auction, beyond which the negotiations stop and the assignment conditions are evaluated.
The main difference between a traditional auction and an online auction is that negotiations take place virtually. In fact, telecommunications technology and company systems integrated with these new realities allow access to the auction anytime and anywhere, without any limitations of place or time.
Participation is not necessarily direct, even if in reality the bidding monitoring systems in the company are active 24 hours a day.
For the entire duration of the auction, participants are constantly notified of price changes and any bidding increases, so that they can intervene directly in the negotiations.
How do you participate in a timed auction?
Timed auctions usually include two types of areas: free access sections, usually informative, and controlled access sections, subject to registration and profiling.
To participate in a timed auction, you must have logged in to the system using a user ID and password obtained during registration.
After activating the access codes, you can access the individual lots and make offers through the timed system's negotiation functions. In any case, the computerized negotiation system creates automatic email messages, push notifications if using an IOS app, to inform participants on the state of the market.
After the closing date of the negotiation, the winner/buyer will receive all the information necessary to settle their purchases.
We remind you that the house rights must be added to the hammer price, as per the Conditions of Sale that participants in the auctions (traditional and timed) declare in advance to have read and approved.
As in traditional auctions, the service is characterized by the fact that the price is derived from a negotiation in which the buyer decides the price he is willing to pay.
The operation is simple: the good is put up for auction at a fixed minimum price, below which there will be no assignments. The increases in bids are made based on a figure calculated on the percentage of the "auction base" that is accumulated at the starting price of the negotiations.
In the event that offers are made on a lot, the person who made the highest offer is the winner and is assigned the good.
In addition to a minimum value, there is also another constraint in the negotiations represented by a maximum duration of the auction, beyond which the negotiations stop and the assignment conditions are evaluated.
The main difference between a traditional auction and an online auction is that negotiations take place virtually. In fact, telecommunications technology and company systems integrated with these new realities allow access to the auction anytime and anywhere, without any limitations of place or time.
Participation is not necessarily direct, even if in reality the bidding monitoring systems in the company are active 24 hours a day.
For the entire duration of the auction, participants are constantly notified of price changes and any bidding increases, so that they can intervene directly in the negotiations.
How do you participate in a timed auction?
Timed auctions usually include two types of areas: free access sections, usually informative, and controlled access sections, subject to registration and profiling.
To participate in a timed auction, you must have logged in to the system using a user ID and password obtained during registration.
After activating the access codes, you can access the individual lots and make offers through the timed system's negotiation functions. In any case, the computerized negotiation system creates automatic email messages, push notifications if using an IOS app, to inform participants on the state of the market.
After the closing date of the negotiation, the winner/buyer will receive all the information necessary to settle their purchases.
We remind you that the house rights must be added to the hammer price, as per the Conditions of Sale that participants in the auctions (traditional and timed) declare in advance to have read and approved.