October 2020
Refresher on How to Bid on Auctions in Extension
You’ve probably noticed the majority of auctions at SteffesGroup.com are timed online auctions. Although our online platform has been around for 11 years, it has played an even more prominent role during the Coronavirus pandemic. So, if you haven’t bid in a timed online auction -- or if you’re rusty -- here’s a quick guide.
Starting with the basics, every bidder needs to have a login. If you’ve already created a free account, you can log in using the box in the left menu. If you don’t have an account, you’ll want to click “Create a Free Account” to get started.
Once your account is created and you’re successfully logged in, jump into the auction of your choice and, on any lot, click on the red “Request to Bid” button. This walks you through the terms and conditions of the auction. Each auction may have its own unique terms, so please read carefully. Once you’ve read the terms, click on the yellow “Accept Terms” button and you will be directed back to the auction’s home page. From there, simply use the green “Place a Bid!” button to bid on an item.
One of the best features of our online bidding platform is the ability to place a maximum bid, which can improve your chances of winning your item. By placing your maximum bid, if another user also places a bid the system will bid on your behalf incrementally up to your maximum bid amount. If your maximum is outbid, you will receive a notification that gives you the option of raising your bid.
As a reminder, you can click the “Lots by Category” tab at the top of the lot listing to view a specific equipment category. For example, if you are looking for a semi tractor this will save you having to scroll past numerous lots containing tractors and combines.
The questions we receive most are in regard to extended bidding. If a bid is placed on a lot within a few minutes of the lot closing that lot will go into extended bidding. When this happens, the lot’s closing time is extended four more minutes (time may vary by auction). This will continue until bidding ceases, which in some cases, may go on for quite a while if it is a very sought-after piece of equipment.
Once the final lot in extension closes, the auction will have concluded. At this point, we will review all final bids and email you an invoice for the lots you won. Please call the office number listed on the invoice to make your payment. We are open Monday through Friday, 8AM-5PM, and accept a check over phone or fax, wire transfer, or credit card (with an added 3% service fee). We do not accept mailed checks.
For any questions throughout your bidding experience, you can contact us at 800.726.8609 or contact any of our locations directly by using our directory.
