Click to Bid: Online Auction Etiquette

If you’re new to the world of online auctions, you need to familiarise yourself with the basics, such as how to bid and general bidding etiquette. While online auction events offer convenience, they can also be slightly more complicated than their in-person counterparts. In this guide, we’ll walk you through everything you need to know for your first online auction.

While all auctions are governed by a set of written rules that might differ slightly between auctioneers and auction houses, there are also unwritten rules of acceptable conduct that both buyers and sellers need to be aware of.

Online Auctions: The Unwritten Rules

Thou Shalt Not Shill: ‘Shilling’ refers to the practice of misrepresenting yourself or items to unfairly influence the auction process. This can include tactics like planting people in an auction to drive up the price, mispresenting used goods as new, misleading product descriptions, or selling knock-off brands as originals. Many of the more serious forms of shilling also constitute fraud and can result in legal consequences.

Trust by Reputation: Choosing a reputable auctioneer to work with can mitigate almost all of the risk, as the world of auctioning is a community built on trust and reputation. If an auction house is reputable, there is a strong assurance that it adheres to written and unwritten rules alike. Look for auctioneers based on their track record of running successful auctions that satisfied both buyers and sellers.

No Remorse: Once the final hammer falls, the sale is complete and binding. Should a buyer have a change of heart and decide the final bidding price is too high, or should the seller change the amount because they feel the final bidding price is too low, this remorse doesn’t constitute a party backing out of their obligations. To avoid buyer’s remorse, make sure you never place a bid you won’t be happy to pay. To avoid seller’s remorse, set an opening bid that you are willing to accept as the minimum price.

While some of these rules apply to in-person auctions as well, the digital distance of online auctions can make these dishonest practices more tempting. It’s important to be aware of these unwritten rules and conduct yourself with honesty and integrity.

We take the running of our online auctions just as seriously as we do our traditional auctions, so please take note of the following important information when participating in one of our online auctions:

The auctioneers cannot be held liable for any bidding delays due to poor internet connection.

Payment must be made within 24 hours of the auction’s closure.

Lots must be collected during specified hours on the two days following the auction, subject to payment reflecting.

Total Lot Cost is calculated as follows: Your bid, +10% commission, +15% VAT.

This last point is especially important, as it can often catch first-time bidders by surprise. You should now know all you need to know for your first bid online.

Auction houses and auctioneers survive and thrive on their reputation. At Dynamic Auctioneers, we have over 20 years of experience in facilitating successful online auctions. If you are considering buying or selling at an online auction, don’t hesitate to contact us today and we will gladly guide you through the process.