Frequently Asked Questions

 

Accounts & Bidding

 

How to Register & Bid?

All prospective bidders must create or login to a HiBid account. Click on the above link for a step-by-step guide on how to register. 

 

What does "no reserve" or "unreserved" mean?

A reserve price is the minimum price at which the Vendor is willing to sell a lot.

 

What is a Buyer’s Premium?

Buyer’s premium is an additional charge paid by the buyer to auctioneer after winning the lot. The Buyers Premium varies from Auction to Auction & will be advertised in each individual auctions description. 

 

What is Bonus Time?

In the event that a bid is placed on a lot in the final minutes of an auction, that particular lot will automatically be extended for an additional 2 minutes. The extension will continue until all the bids have stopped.

What is a "Staggered Close"

A staggered close means each lot will close 20 seconds after the previous lot, unless that item is in "Bonus Time". This allows bidders competing on multiple lots have ample time to ensure they don't miss a bid. 

 

What is a Starting Bid?

The starting bid is the opening bid. The starting bid is not a reflection of the reserve price.

How does a Max Bid/Auto Bidding work?

You can automate the bidding process by overriding the next bid amount with your "Max Bid".

If the reserve is not met your bid will automatically jump up to either the reserve price or your max bid (if the bid is under the reserve).

Once reserve has been met, our platform will bid on your behalf by the increment schedule only if you are bid against up to your max bid amount.

 

What are the bid increments?

Bid increments are the amounts by which each bid will increase based on the current bid price.

Why is the "Bid History Time" Different to the time in QLD Australia?

Our Host Website is located in Florida USA, hence the difference in time. The advertisied Start, Close & Auction Countdown Timer are always shown in QLD Time. 

 

Payment & Invoicing

 

I won the lot, what happens next?

You will receive your invoice via email the evening following the close of sale. Preferred payment is Card over the phone. Once payment in full has been received, you will be provided with the Vendors contact details to arrange collection.

The lot I was bidding on says "May Have Won". What does this mean?
This means the lot you were bidding on had a reserve that was not met. 
Following the auction, the Vendor has the opportunity to either accept your high bid, or negotiate a price closer to the reserve. The high bidder has the first opportunity to purchase at the reserve price or a negotiated figure. If a sale is not made, the Auctioneer can sell the lot to any registered bidder.

 

What are your Payment Methods?

We accept Card payment over the phone, Direct Deposit or Cash delivered to our Office.

Do you have any Credit Card Fees?

We do not charge any fees for Credit Card Payments.

Can't you debit the card I registered with?

No, we require the card registration purely as a form of Identification. We do not debit the registered card. 

 

Is there any option for Buy it Now?

We do not have any buy it now options. All advertised Lots must be sold through Auction.