Hibid Maine (2024)

FAQs

Why is bid pending on HiBid? ›

PENDING BID If your bid is showing it is Pending, then Item "1" or Item "2" above have not been completed or your bidding amount is not set high enough to allow your bid to be accepted.

It is the responsibility of the buyer, not the auction company, to ensure that sales tax paperwork is complete, up to date, and on file, -BID RETRACTION: Bids cannot be retracted once the auction begins.

When a bidder first creates a HiBid account, they automatically have a score of zero. Bidders are rewarded with positive points for bidding in auctions, paying on time, picking up their lots, and so forth; they are downgraded with negative points for doing the opposite.

Whether you're an auctioneer seeking to upload lots and hold auctions through HiBid or an individual seller looking to consign items for sale, we make the entire process as easy as possible.

Early bids are transmitted with certainty, but there is time for other bids to respond. Late bids come too late for other bidders to respond, but run the risk that they will not be successfully transmitted themselves.

Bid at the Last Minute

This online auction strategy involves closely watching the auction timer and then placing a final bid at the very end of the period. For less-active auctions, this method can be a great way to snag an item at a low price.

After all, it makes sense. The myth is out there that the lowest bid wins the contract. The truth, however, is that all decision-makers would like to award every contract to the lowest bid but often do not or cannot. As Bid Builders and Bid Managers, we have come to understand both sides of the procurement process.

You're liable for the deposit on auction day and the rest of the purchase price, plus fees, by the completion deadline (typically 28 days after the auction). If you can't pay the deposit, you may face legal consequences. The auction house and seller can demand that you pay the amount specified in your contract.

Contracts won through a low bid are notoriously known for increased changes orders. If contractors underbid due to estimating the cost of the project incorrectly, change orders are usually requested to make up the difference. Change orders can not only impact the pace of the project but can lead to claims.

What you are suspecting is called SHILLING: It is illegal.

What is buyers premium on HiBid? ›

What does buyer's premium mean? Buyer's premium is an additional charge paid by buyer to auctioneer after winning the lot, normally it's predefined percentage of the winning amount. We charge 15% buyer's premium or minimum of $10 is applied to each invoice as buyer's premium.

The HiBid platform supports three different types of internet bidding: Webcast Live Bidding - allows internet bidders to bid live against floor bidders. Internet-Only Bidding - this type of auction is conducted completely online. Internet Absentee Bidding - used for pre-bidding prior to a live auction.

It means that the seller has accepted an offer, but they're still negotiating the terms of the agreement. The home is about to go off the market at this stage. Motivated buyers can take a final opportunity to submit a competing offer.

If you see “Bid Pending Confirmation” BEFORE the property's scheduled auction time, it was sold as a “Make an Offer Now” property. If you see “Bid Pending Confirmation” AFTER the property's auction time, the property was sold in the auction.

This process occurs in less than a second. On Authorized Buyers, you can use RTB to evaluate and bid on each available impression. This is available for any Authorized Buyer with an ad server or bid engine. No additional contract is required, but Terms of Use are referenced in your Authorized Buyers contract.