October timed online Collectors Cabinet auction Sunday 14th November12 Noon
Timed Online Auctions are purely online auctions - there is no auctioneer. Similarly it is not possible to bid by telephone or leave a commission bid direct with Lugosi Auctioneers. Commission bids can be left via your online bidding account
Each lot can be bid on ‘online’ over a defined period of time (typically 2 weeks). At the end of the period, the bidder who has submitted the highest bid wins the lot, provided the bid exceeds the reserve price. All timed online auctions have an end-time displayed on the lot page. You can bid at any point from when the auction opens to when it closes. On the final day, lots close sequentially at regular intervals
If a bid is placed within the last minute of the defined time period, a ‘lot extension’ kicks in and keeps the lot open for a further 1 minute. This is to stop ‘sniping’ – a practice used by bidders to place bids in the last few seconds to prevent other bidders being able to respond before the auction closes.