On-site auctions are very fast and exciting, bringing buyers together to compete for ownership of the lot being bid on. At the opening statement the auctioneer will announce the terms of the sale and if there is any reserve price on any lots. The reserve price indicates the starting amount for that particular lot. These lots are usually tagged reserved so the bidder is aware that the item will start at that amount and the bidding goes on. The bidding starts and auctioneer will announce sold when bidding ceases. Each bidder has equal opportunity to own the item being auctioned off, making everyone able to buy at any price at an absolute auction.
On-Line auctions are usually timed giving the bidders more time and not the fast paced decision. When opening the auction you will notice the amount of time scheduled which will differ from each auction. Some timed auctions can be from one day to 10-15 days or more. The bidder will be asked to register in order to start bidding. Once registered the bidder can go through all the inventory available for the auction to bid on. As the bid amounts increase the bidder can make a choice to keep bidding or quit bidding. At the end of the close date the bidder can keep bidding until the softclose begins. If a bidder bids passed the close time the lot will go to an extra minute. If bidders are not local to the auction site, shipping and deliveries can be arranged. If the On-Line bidders have any questions before bidding, you can always call the auction company with questions you may have.