All lots depicted on the NetBid site are assigned a certain type of sale, reflected by a small icon. The following types of sale are offered:
Auction
Lots are auctioned online, i.e. pricing is based on an opening bid and subsequent predefined increments.
If the minimum price is reached or exceeded at the end date of the auction, the highest bidder receives the knockdown automatically.
Auction Standard refers to a lot entered by a customer himself. Auction Premium indicates that lots are entered and assessed by NetBid.
Trading
Lots are offered on an open trading basis, i.e. bids must be higher than the start price. The owners target is the reserve price. Bids are not accepted automatically. Closing is possible before the scheduled maturity, if the offered price criteria are met.
Trading Standard refers to a lot entered by the customer. Trading Premium refers to lots entered and assessed by NetBid.
Live Auction
All Lots offered through a live auction are presented online in order to provide general information for any potential client. While written prior bids are accepted, knock down will only be during the course of the live auction.
Auction
Direct sale
Exclusiveness
Yes: The item may not be sold elsewhere.
No: The customer is entitled to pursue alternative means of sale
Bid development
Bid development begins with the opening bid and increases with each bid. The defined bid increments are adapted to the respective price range.
Bids can be freely selected on the basis of a start and a minimum price. The bidding period can be restricted in terms of duration.
Bidding agent
Yes: The bidding agent can be activated, which automatically continues bidding until the set limit has been reached.
No: The bidding agent is not available for trading.
10-minute rule
Yes: If a bid is placed less than 10 minutes before closing, the close of the auction is moved forward so that the bid stays online for 10 minutes. New bids will be accepted during this time. The process repeats itself with each new bid. The 10-minute rule reflects the countdown chant of the auctioneer during traditional live auctions.
No: The 10-minute rule does not apply to trading.
Bidding limit
No: Bids are binding up to the end of the auction plus a seven-day period of reservation. Withdrawals or time restrictions are not possible.
Yes: a restriction is optionally possible.
Conditional acceptance of a bid possible
Yes: if the highest bid is still below the minimum bid once the auction has closed the bid is awarded conditionally. An order-dependent period of reservation of generally 7 days shall apply. New bids will be accepted during this period. NetBid is not bound by settlement during this period and shall mediate between the highest bidder and the owner.
No: The conditional acceptance of a bid does not apply for trading.
Acceptance of a bid
automatically: The auction platform accepts the bid automatically.
manually: The bid is either accepted by the owner himself of by NetBid who acts on behalf of the owner and accepts the bid manually.
successful acceptance of bid for
The highest bid is either equal to or higher than the minimum price at the close of the auction.
Any given bid is accepted by the consignor or NetBid manually at any given time between the opening and closing of bidding.
unsuccessful closing
No bid has been placed or no agreement could be reached between highest bidder and owner during the reservation period.
No bid has been placed or no bid has been accepted.