“Auctions create greater price discovery and liquidity, resulting in a very meaningful final auction price. If you were building a securities exchange today, an auction would be a core feature,” said Tyler Winklevoss, an American investor, founder of Winklevoss Capital Management and Gemini cryptocurrency exchange, and Olympic rower. Winklevoss co-founded HarvardConnection along with his brother Cameron Winklevoss and a Harvard classmate of theirs, Divya Narendra.
Auctions are a great place to find unique collectibles, antique furniture, art, and other items you love. Not only is it fun to attend auctions right from the comfort of your own home, but it’s also safe and convenient when travel is strictly restricted. With online auctions, you don’t miss the action, no matter where the sale takes place. One of the best online auction sites in the United States is known as DealDash. DealDash’s latest funding round in December 2011 was reported to be $1.5 m. In total, DealDash has raised $1.5 m.
Here are five tips for bidding online:
Live verification:
The auction is online-only, but the item is real! A unique feature of Skinner is that all materials we offer at auction are available for an in-person inspection. It’s often difficult to judge the quality, scope, and condition of an object if you don’t manage it yourself. Check the auction page for published hours and dates or contact the department to make an appointment.
Asking question:
Your staff should be available to answer questions about this page before or during the online auction. Can’t attend the live preview? Use the “Contact Us” button from the online catalog to send an email requesting status information, additional photos, or information about the auction process. Your specialist will be happy to assist you.
Find your bidding style:
Whether you like the adrenaline of competitive bidding or prefer the convenience and simplicity of placing a maximum bid and then waiting for the results, online auctions will suit your bidding style. Set your current or initial bid if you want to control (check your personalized “pending bid” to see if you still have the highest bid), or enter your highest bid and wait. In either case, the platform will competitively charge you up to that dollar amount in set increments.
Use watch list:
Still not ready to bid? Add each item to the lot you track to track it during the auction. You can always go back to the stack you’re watching to see a customized list of just the items you’re interested in. See what the current offer is (and whether it’s yours or not) and how much time is left to complete each lot. Towards the end of the auction, a watchlist is a best and most efficient way to track how many lots you want to win. The list contains only the items you are interested in and is a shortcut to the offer!
Watch the last few minutes:
The last-minute of the online auction alone is already interesting. The published “end” of the auction is the end time of bidding on the first lot. Lots close every six seconds and this amazing closing time allows for more convenient bidding for multiple lots in the same auction. You may have heard of “sniping” – a slang term that refers to offers made during the fraction of a second before the end of a game, making it difficult for other participants to respond. Skinner prevents shooting with the auto-extend feature. Any bids placed within ten minutes of completion will automatically reset the countdown timer to ten minutes. Keep an eye on what you watch in-app notifications or in your emails for warnings to be skipped during online auctions.
