Picture this: You're bidding on that S780 combine that you NEED for your upcoming harvest season. You have the top bid! The timer is running out: 5, 4, 3, 2, 1...you didn't get the combine? How? You had the leading bid!

 

Let us explain. 

 

Our online platform is like a live auction, whether big or small, the principles are the same. Our version of extended bidding gives everyone the same opportunity and same amount of time to make the best decision they can. Much like at a live auction, when you place a bid, the auctioneer gives the runner-up time to make a decision. It's really no different online; bidders just cannot "see" the person they are bidding against, causing distrust in the system.

We work for the seller, and extended bidding gives time for buyers to bid again, almost always driving up the price. Does it sometimes take forever? You bet. We often tell a bidder to use the max bid option, which sometimes they didn't know about, as this isn't always an option on other sites. Some don't trust that option and are stuck with the "bid each time" approach.

Many times, a bidder will become frustrated that a lot didn't actually close at its designated closing time. "It extended for over 20 minutes and I had something to do, so I missed it." When at a live auction, an auctioneer doesn't stop asking for money just because the timer ran out - they keep going until the bidding stops.

Linking lots together is no different than a "Choice Group" at a live auction. The way the online platform operates, there is no other way to create a "Choice Group" other than to link lots together. The purpose of both versions is to create competition where there may not have been any before. Let's go back to that S780 combine you were needing for harvest. Let's say we have three of them - same year and relatively similar hours. If three different bidders look at all combines, there is a decent chance that they will disagree on which is the best machine. If we left these machines without a "Choice Group" or "Linked Lots," the chances that these three bidders would only bid on their respective machine is quite good. If we put them in a group or link them, we have now removed the chance that they will only bid on their own machine, eliminating distrust and creating competition for the "best machines."

The biggest advantage to using the online version over the live version is that in a live auction choice group, once the auctioneer says "sold," the customer gets to pick one or all of the machines. If they only take one, and the remaining two are still for sale, the auctioneer goes again. Once they say "sold" again, there are only two machines available to pick from - the first machine is no longer available. In an online version, all three combines are able to be purchased until all three close, all at the same time. It gives the bidder the ability to change their mind. When the first machine becomes too expensive, they can switch to the second and third machines. If those become higher than the bidder wants, they can go back to the first machine again.

 

 While extended bidding and linked lots can feel frustrating when you’re in the moment, remember that these features are designed to create the fairest possible auction environment for everyone involved. Understanding how they work helps you bid more strategically and sets realistic expectations for your auction experience.

 

Have questions about bidding or how our platform works? Don’t hesitate to reach out to our team. We’re here to help make your auction experience as smooth as possible.