Everything You Need To Know About Participating In Online Auctions

If you’re new to the world of online auctions, it’s understandable to be nervous and unsure about the process. It’s a lot to take in, and can be confusing at first. However, there’s no need to stress, we have a simple guide to registering and bidding on our website.

Buyer Requirements For Online Auctions

Depending on whether you are purchasing property or moveable assets, the requirements for bidding online may vary. However, there are some basics for either type of sale to consider. As with any in-person auction, bidders are required to pay a deposit of a set amount, which will be refunded once bidding has concluded and all purchases have been paid.

Furthermore, buyers will have to provide a valid form of ID, proof of residence and are also required to agree to the relevant terms and conditions before being allowed to bid. Remember that any bid made is legally binding should you be the highest bidder.

See the below questions answered to get more accustomed to buying at online auctions.

Can Someone Bid on My Behalf?

It is allowed for persons to send a proxy to bid in their place, but in such instances, both parties will have to provide identification and proof of residence. This does not mean someone can simply attend an auction and start buying in your name. You will first have to issue a viable letter giving authority to the person to do so for the specific sale.

What Happens If My Bidding Is Delayed by Poor Internet Connection?

As a buyer, it is your responsibility to make sure you have a good connection to ensure there is no delay from your side. The auctioneer will not be able to see that you have internet problems and will only accept bids that are in the system at the time the auction ends. This means the top offer recorded at that moment will be taken as the concluding bid. Once the auctioneer says sold, that’s it. The highest bidder is accountable for the final bidding amount.

Are All Items Tested and Checked Before Being Advertised?

No, items without any label or note stating that it is in working condition have not been tested and may or may not be working. It is the buyer’s responsibility to inspect all lots on which they wish to bid before participating in an auction. Neither the seller of the lots nor Dynamic Auctioneers make any warranties or guarantees, nor do they make any statements about the condition or state of any of the lots, other than the representation that appears on the condition report for the lots in question.

However, if an item is labelled “working condition,” it means that we have checked whether an item/appliance switches on. It doesn’t necessarily mean that the item is in working condition, only that it does in fact turn on.

In certain instances, items may come with a professional report detailing the exact condition of an item, but in most cases, buyers are purchasing goods voetstoots.

Ready To Get Started?

The best way to get acquainted with how online auctions work is to try them for yourself. You can visit our Facebook page to monitor interesting properties or items listed for auction or register directly on our website and get right into the bidding wars. 

This way you can join in and see what it is all about. There’s no requirement stating that you have to bid when joining. So, you can simply watch and learn, and maybe buy something if you spot a real bargain.