announced PriorityBid, a feature that enables buyers to make proxy bids online for items in its live auctions up to a week before the sale. These bids put them first in line to win the item, provided no one outbids them.

What does priority bid mean?

announced PriorityBid, a feature that enables buyers to make proxy bids online for items in its live auctions up to a week before the sale. These bids put them first in line to win the item, provided no one outbids them.

What is ha com?

ha.com. Heritage Auctions is an American multi-national auction house based in Dallas, Texas.

How do you bid on Rbauction?

It’s easy to register and bid online at Ritchie Bros. live auctions

  1. Create a free account.
  2. Register to bid online.
  3. Account verification and bid deposits.
  4. Never miss a lot – place a PriorityBid before the live auction starts.
  5. Enter the auction on auction day.
  6. Listen to the auctioneer.
  7. Follow the bidding.

How does a timed auction work?

Timed auctions are similar to live auctions, but there isn’t a live auction or an auctioneer. The auction normally takes place over 2 weeks. This extended time-frame means you can re-submit bids mid-auction, should your initial maximum bid be beaten. In this event, you’ll be notified, allowing you to bid again.

How does Ritchie Bros auction work?

Every item is sold to the highest bidder on auction day, with no minimum bids or reserve prices. Owners are forbidden by contract from bidding on items they are selling. Bids are irrevocable, and all sales are final.

What is a proxy bid limit?

The goal of maximum bidding, also known as proxy bidding, is for you to win the auction item at the lowest possible price by placing bids on your behalf at the lowest possible increments up to a maximum amount you set.

What are Ritchie Brothers fees?

7.5% of the selling price in the currency of the auction. The transaction fee applies to on-site, online and proxy purchases.

What happens if I don’t pay Ritchie Bros?

If Ritchie Bros. does not receive full payment within seven (7) days of the end of the auction, your credit card may be charged automatically and a 2.95% iClosing Convenience Fee will be applied to the transaction.

What is the difference between online auction and timed auction?

A timed online auction is automated. It’s set up to run a certain period of time, regardless of how frequent or sparse the bidding is, and the entire process is run by a computer. A live online auction, by contrast, is monitored and conducted by an auctioneer.

What is a Dutch option?

A Dutch auction is a market structure in which the price of something offered is determined after taking in all bids to arrive at the highest price at which the total offering can be sold. In this type of auction, investors place a bid for the amount they are willing to buy in terms of quantity and price.