Frequently Asked Questions
Only registered bidders can participate in our online auctions. To register, select the 'Register' link displayed on any of the auction pages and enter your personal information. This information will not be shared with anyone.
How do online auctions work?
Online auctions work just like live auctions only the bidding is done from your computer. Simply register and place bids on assets you wish to purchase.
How do I get my Bidder Number to bid?
After you have registered online and your information has been reviewed you will receive your Bidder Number via email.
How do I bid?
Select the auction you would like view. When the bidding for the auction is open you will have the opportunity to enter Your Bid or your Maximum Bid for each asset. Enter your Bidder Number and password at the bottom of the screen to submit the bid(s).
What is a Maximum Bid?
A Maximum Bid is the highest dollar amount you are willing to pay for an asset. Here is an example of using the Maximum Bid feature: If you enter a Maximum Bid the system will automatically bid on your behalf up to your Maximum Bid amount. For example let's assume that the next bid requirement is a $100.00, you enter a Maximum Bid of $400. If no other bids are placed on that asset you will be the winner at your $100 bid. If another bidder places a bid of $200 on the asset you will now be winning at the $200 plus 1 increment level (for example: $200 + $10 = $210).
May I raise my Maximum Bid?
You can also raise your Maximum Bid WITHOUT having to raise your own bid! Our Maximum Bidding Tool will now allow you to raise your Maximum Bid. For example, you originally placed a Maximum Bid amount of $50.00 and now you want to increase the maximum bid to $100.00 - all you need to do is submit another bid for the $100.00 bid in the "Maximum Bid" box. As long as your previous Maximum Bid was at least 1 increment higher then any other bidders' Maximum Bid, the current price on the asset will not change.
An example where the current price DOES NOT change when the maximum bid is raised...
Bidder 1 places an opening bid of $10 and a maximum bid of $50.
Since there are no other bids the current price will be $10.
Bidder 2 places a $15 opening bid and a $30 maximum bid.
We calculate the current price by taking the second highest bid made by another bidder ($30) and adding a single increment ($5). The current price is now $35
Bidder 1 wants to raise their maximum bid to $100. Since their previous maximum bid ($50) is more than 1 increment greater than any other bidders' maximum bid ($30) the current price stays at $35.
An example where the current price DOES change when the maximum bid is raised...
Bidder 1 places an opening bid of $10 and a maximum bid of $50.
Since there are no other bids the current price will be $10.
Bidder 2 places a $15 opening bid and a $48 maximum bid.
We calculate the current price by taking the second highest bid made by another bidder ($48) and adding a single increment ($5).
Since that amount ($53) is greater than the maximum bid placed by bidder 1, the current price is now the maximum bid ($50).
Bidder 1 wants to raise their maximum bid to $100. Since their previous maximum bid ($50) is less than 1 increment greater than any other bidders' maximum bid ($48) the current price is now $53.
What is a Bid Increment?
The Bid Increment is the minimum dollar amount that the bid must be raised by. Bid Increments will typically be in $5.00, $10.00, $20.00, $50.00 or $100.00 increments. You can bid higher than the minimum bid, or you may enter a Maximum bid, but you may not bid in denominations less than the set Bid Increment.
What is Auto-extend time?
The Auto-extend time feature will leave the bidding open for any asset that has received a bid within the last 10 minutes, even if the original ending time has been reached.
How does the auction end?
Each auction will end at a specified time. However, we use an auto-extend feature. With this feature, the bidding will remain open on any asset that has received a bid within the last 10 minutes. Once 10 minutes has lapsed without any bidding activity the bidding on the asset will be closed. If there is more than one asset in an auction the auction will have staggered ending times. When you click on "ALL ITEMS" in the Category List the first asset that appears will close first. Each asset will close one minute after the previous. For Example: If the auction is closing at 1:00 pm, the first asset closes at 1:00 PM. The second asset closes at 1:01 PM. The third asset closes at 1:02 PM. This will continue until all assets have closed. Also note that extended bidding is still in place. Therefore, if the first asset goes into extended bidding the second asset will still close at 1:01 PM and the third asset will still close at 1:02 PM, etc. (unless they also go into extended bidding) while the first asset is still in extended bidding. This scenario applies to all lots. If you have any questions regarding extended bidding, please contact us.
How do I know I won?
If you are the high bidder, the system will send you an e-mail (Invoice) when the auction ends. This e-mail (Invoice) will have complete instructions on payment.
How can I make sure I am seeing the most current bidding information on the screen?
During the bidding process you will need to refresh or reload your page frequently to ensure you are viewing the most current bidding screen.
If I win, who, how, and when do I pay?
If you are the winning bidder on an asset you will be emailed an Invoice which will give you complete details of your purchase. Instructions for wiring the required funds into our escrow account will also be included in the email, or payment in the form of a cashier's check or money order may be sent next day delivery (overnight) to: Auction Management Corporation Attention: Online Payment Department 1827 Powers Ferry Road, Building 5, Atlanta, GA 30339. Important: Payment for all auction assets must be received within four (4) days after the auction closes. You will be permanently banned from all future auctions if prompt payment is not received.
How do I find out more about a posted asset?
Each auction has a contact person listed. If you have any questions about an asset, please contact that person.
Why is there Tax on some sales?
Sales taxes may be payable on personal property auctions. The tax laws governing sales taxes are different in every state. Certain states provide sales tax exemption for purchasers who are going to re-sell the asset, or for purchasers who do not reside in the state where the asset is located, and are going to take the asset back to their home state. Sales tax exemption forms with your tax ID number for the state in question must be filed with Auction Management Corporation prior to bidding, or you will be charged sales tax.
Why do some auctions require a deposit prior to bidding?
In certain situations, the Seller may require a deposit prior to the opening of bidding. If a deposit is required prior to bidding the deposit amount will be advertised. If you are not the successful bidder, deposits will be refunded following the auction.
What if I have additional questions about online bidding procedures?
If you have questions about the assets you are bidding on, contact the listed representative. If you have questions about the online bidding, contact onlineinfo@auctionEbid.com
