How Live Auctions Work

All articles are displayed with one starting price that is valid at the outset of an auction. The actual price is concealed until you place a Credit. With each Credit placed, the price decreases, so the actual price is always less than the start price - often considerably!

As soon as you have registered, you can buy various Credit packages (see above).

When you place a Credit, three things happen:

1. The actual price decreases by 25 cents
2. You will see the actual current price
3. When the article price reaches $0.00, you have become the final buyer of the auction!

At a price of $0.00, you successfully purchased the article. At the completion of the transaction, you will contacted by an auction specialist with details on transfer of ownership.

Important Notice:

If an auction does not produce a unique bid at its conclusion, then nobody is the final buyer and the auction starts again. If an auction results in a unique bid at its conclusion, the user with the lowest single bid is determined and then informed by e-mail. The final buyer can subsequently order and pay for the auctioned item in his member area (prices include all closing costs for transfer of ownershipi). Ownership occurs within 1-2 weeks from conclusion of the auction.

A single user may only be the final buyer in up to three “Live Auctions Auctions in one month. Therefore, once the member has placed three final bids (both lowest and unique), further bids will not be accepted. As soon as this user has been underbid in an auction, the placement of further bids is automatically accepted, until the maximum number of three successful final bids has been attained. Once a user has been successful in an auction, s/he may only participate in a further two auctions, et cetera. The number of successful auctions, as well as the number of remaining auctions available in which to participate, can be accessed at any time in your back office. At the beginning of a new calendar month, the maximum number of three successful auctions is available to you once again. This is indicated in your member area in the form of a stoplight. If the stoplight displays, for example, a “red light”, you can only place a bid again in the next calender month.