All bidding takes place online. Bids for the Online Auction can be submitted throughout the duration of the bidding period. Once the registration is approved by Paul Fosh Auctions, registrants can submit bids by clicking either the "Place Bid" or "Place Proxy Bid" button on the lot page for each property. There are minimum bidding increments set which typically vary from £2,000 down to £250 for smaller properties, however, bidders have the option to customise their bid using the "+" button to make a higher bid should they wish.
If you know the maximum amount that you want to bid and don't want to sit at the computer all day, you can enter a proxy bid with a pre-set maximum amount that is hidden on the website. The online auction platform will then automatically enter bids for you in the applicable increments only as needed to top other bidders. The platform will only enter bids for you as necessary to keep your place as the winning bidder, up to your maximum bid price. If your proxy bid is outbid, you will then be notified by email stating this, where you can log back in and place another proxy bid if you wish to do so.
Our Proxy-Bid system makes bidding convenient, so you don't have to keep coming back to re-bid every time someone places a bid higher than yours. Please note, if the maximum bid you wish to make is at least the reserve price, we’ll automatically increase your bid to meet the reserve, and bidding will continue from there.
Lots will close in two-minute intervals (for multiple lot online sales) unless a bid is placed within the final 30 seconds of the designated closing time. If a bid is placed within the final 30 seconds, 30 additional seconds will be added to the designated closing time for that lot. There is no limit to the number of extensions.
Bidding will close when no further bids are received within the final 30 seconds. Please note that the extension of any one lot’s closing time may affect the closing time of any subsequent lot. Therefore, it is possible that lots will close passed their suggested close time.
The closing of the lot will be as per the time stated, however if a bid is placed in the final 30 seconds, an additional 30 seconds will be added. This is known as an extension. For this to happen the original clock will time out before the extension is added. If a bid is placed during an extension, the extension will reset to 30 seconds.