This article describes the different auction types available on LiveAuctioneers and how they are priced.
This article contains the following sections:
Available Auction Types
When setting up your new auction listing, you will only see the options that are available to the type of account you are on. If you would like to list a sale type that is not available in your account, please speak with your Client Success Manager.
The following auction types are available on LiveAuctioneers:
Live Auctions
A brick-and-mortar seller with in-house bids or other platform bids.
Timed Auctions
All of the auctions on our site have a live bidding component where lots are sold sequentially and people can bid in real-time in competition with other bidders. In a Timed Auction, this process is done automatically, only allowing bids from LiveAuctioneers bidders.
- At the auction's designated start time, the system will open lot #1 - execute any bids, sell the lot, and move on to lot #2, progressing at approx. 100 lots per hour until all the lots have been passed or sold.
- Lots are kept open based off of bidding interest - if there is no interest, a lot will be open for about 15 seconds before moving to the next lot. During the bidding experience, bidders will have no inclination that this is a timed sale unless they have actively searched for such an auction.
- When there are no more bids happening, there is a 7 second wait before "Fair warning" is issued - then another 7 second wait before the lot is either passed or sold to the highest bid.
- IF there are no bids on a lot, the wait time is 15 seconds of inactivity before "fair warning" - then 7 seconds wait then the lot is passed.
A Timed Sale will start automatically at the designated start time, there is no need to start anything or monitor anything.
Using Reserves with Timed Auctions is a great way to ensure your item doesn't sell below a specific price. Learn more about Reserves here.
Timed+ Auctions
Automated sale solely with LiveAuctioneers' online bidders where all lots begin to close independently from other lots. For more information, see What is a Timed+ Auction?
Pricing
Pricing for all auction types can be found on the Master Rate Card.
Please note, the commission fees are only applied to the Hammer Price of an item on your invoices. If a lot is removed from your End of Auction report (EOA), or you have filed a dispute on an item, these commission fees are credited back to your account.
For additional questions about listing fees & plans, please contact your Client Success Manager.