Going…Going…Offered!

As soon as you’re accepted to purchase on one (or extra) of our marketplaces, you may log into your market and start bidding on-line. B-Inventory makes use of a number of key options all through our public sale course of to simulate a good “stay” public sale mannequin (however with out the fast-talking auctioneer!). This put up will information you thru the essential steps of inserting a bid and educate you key bidding phrases – like proxy and popcorn – to get you in on the public sale motion.  

On-line bidding for inexperienced persons, defined 

An auction-style format means potential consumers compete towards one another to win the merchandise being offered — on this case, numerous liquidated items. On-line bidding generally is a enjoyable and thrilling approach to buy bulk quantities of stock throughout a variety of product classes like attire, dwelling & backyard, shopper electronics, and extra. On-line bidding for inexperienced persons can really feel overwhelming, however we’ll educate you precisely how you can place a bid and safe the stock you’re on the lookout for.

The right way to Place a Bid:

Every public sale can have a field the place you may enter your most bid; keep in mind, your most bid will have to be equal to or better than the minimal allowable bid quantity listed beneath the field. As soon as the quantity has been entered, click on the “Bid Now” button. The system can have you affirm your bid quantity. Be sure you double-check the quantity earlier than confirming your bid. (The look of every “bid” space would possibly differ from market to market however the steps stay the identical.)

Whilst you’re actually welcome to repeatedly log in and manually enhance your bids, we recommend letting our auto-bid system try this give you the results you want. Our proxy bidding course of lets consumers enter their most quantity and the system will routinely enhance your bid incrementally for you. Extra on how this works is beneath…

What’s a Proxy Bid?

All bids positioned on a B-Inventory market act as “proxy” bids. Your proxy bid is basically your most quantity. Our system makes use of your proxy bid quantity to routinely bid incrementally in your behalf. To get essentially the most out of this method, we suggest you bid the best quantity you’re prepared to pay, which is named your most bid. As soon as entered, the system will handle the bidding for you, performing as your proxy. This gives our consumers nice comfort as you don’t should be on-line, on a regular basis, updating your bids in real-time. In case you want to enhance your bid, you’ll be able to accomplish that at any time throughout the public sale.

No must run, bidding is enjoyable! Don’t let the thought of inserting your most bid scare you. Simply since you enter your most quantity doesn’t imply that’s the ultimate value you’ll pay. The ultimate value relies on the utmost quantity the second-place bidder would pay plus one increment larger.

How Proxy Bids Work: 

Let’s say there’s an public sale that pursuits you with a beginning bid of $1000. You resolve the best you’ll pay for the public sale is $5000, so that you enter that as your most bid. You are actually profitable the public sale at $1000. If one other bidder is available in and bids $1100 as their most, then your bid of $5000 will routinely outbid them one increment larger as your proxy. You are actually profitable the public sale at $1125 with out ever having to bid a second time to ensure you keep the excessive bidder. The system will proceed to routinely outbid different bidders as your proxy, however won’t ever exceed your most bid of $5000.

If one other bidder inputs a most bid over $5000, then you’ll be outbid. You’ll obtain an electronic mail notification and can then have the selection to enter a brand new most bid to behave as your proxy or transfer on to a different public sale.

Bidding Increments:

So what are the bidding increments? We’ve damaged it down like this:

Any public sale heaps promoting for lower than $10,000 enhance in increments of $25; whereas something fetching between $10,000.01 and $50,000 will enhance in increments of $50. Lastly, public sale heaps going for greater than $50,000.01 will enhance incrementally by $100.

Bidding Notifications:

We worth transparency right here at B-Inventory and demand on conserving our consumers updated throughout the public sale course of. Actual-time data is all the time obtainable on the public sale web page and inside your account web page; as well as, you’ll obtain quite a lot of electronic mail notifications alerting and confirming your public sale actions each step of the best way!

For each bid you place, you’ll obtain a affirmation electronic mail. If you’re presently profitable an public sale lot you’ll be offered an electronic mail alert. Additionally, you will be notified for those who’ve been outbid, misplaced or gained an public sale.

**Professional Tip! Join our B-Inventory SMS textual content public sale alerts in your account web page. Keep updated in actual time and by no means miss a bidding notification.**

What’s Popcorn Bidding? 

If a bid is positioned within the final 5 minutes of an public sale, the public sale finish time will routinely prolong for a further three minutes. That is referred to as “Popcorn Bidding” and it provides all bidders an equal likelihood of profitable an public sale if a last-minute bid is positioned. Popcorn Bidding is used to forestall different bidders from coming in and “sniping” an public sale on the final second.

On the shut of the public sale, the profitable bidder is notified by electronic mail. The “Bid Received” electronic mail will embody cost directions;  please comply with these directions so the transaction can transfer ahead in a well timed method. As soon as the order is paid, you’ll obtain one other electronic mail confirming cost, which may even embody delivery directions. Please comply with these delivery directions accordingly.

Why did my bid get canceled? 

Typoed bids are a number one reason for canceled bids. Please learn all pop-up confirmations, public sale lot particulars, and manifests fastidiously. Moreover, bidders ought to do their product analysis earlier than bidding.

B-Inventory considers all bids to be binding authorized contracts. Please bid very fastidiously. In case you want to cancel a bid, please know {that a} cancellation price might apply and a be aware of it will likely be made in your report. Please perceive that for those who proceed to cancel bids, you run the chance of being denied on {the marketplace}.

On-line bidding doesn’t should be onerous! In case you’re a newbie, we’re right here to assist. Acquired questions? Contact us!