what you should know about the close of our auctions
When the start of an auction is scheduled we also stipulate how long it will
remain 'open for bidding' once it goes live.
For all auctions, other than Practice auctions, this open for bidding
period will last at least 7 days and will allow bidders the opportunity to
place bids and review bid status changes at their convenience. At the end
of the open for bidding period, if all bids have not already
been placed, bidders are allowed minutes to place any remaining bids before
the bidding engine closes the auction.
This format is designed to benefit people who wish to bid at times convenient to them as well as those who
prefer to bid just before an auction's close.
For example, if you have a seat in an auction with the following
settings*:-
- Scheduled Start: 12:00 on June 1st
- Open for Bidding: 7 days
- Auction Close: maximum 30 minutes - this only applies if there are any unplaced bids after 7 elapsed days
*this information is available on
the auction's page when the auction start is announced
This means that
- you can place bids and check their status any time during the 7 days
- the auction can close during these 7 days but ONLY IF ALL BIDDERS PLACE ALL THEIR BIDS
- if you do not place all of your bids you can be sure the auction will remain live for the full 7 days
- at 12:00 on June 8th (7 days later) the process of closing the auction is activated and you have less than 30 minutes to place your bids; therefore the latest this auction will close is 12:30 June 8th
The progress bar on an auction's console
allows you to monitor the progress of live auctions .
Remember, during this open for bidding period the auction
can close, but ONLY if all the bidders place all their bids.
Even if there is just one unplaced bid the auction will remain open for the
stated open for bidding period and once this has elapsed
our auction close process is activated. This process allows
the remaining bids to be placed at a steady pace
over a period of minutes and closes the auction if bidding
activity stops or is slower that expected.
auction close process
