Live & Online Auctions in Maine | Hibid Maine (2024)

FAQs

Is it better to bid early or late online auctions? ›

All we can do in this regard is to urge you to place your bids early.” “There are inherent risks in sniping. If you wait too long to bid, the auction could close before your bid is processed. If your maximum doesn't beat the current high bidder, you won't have a second chance to up the ante.

Underbidding initially and then making an aggressive offer later can increase your chances of winning. Keep an eye on items that were just listed and have not yet received bids; this presents an opportunity to be an early bidder and set the tone for the auction.

Auction sites can be a great way to fundraise and sell items online. However, there are some things to be careful of when selling merchandise on an auction site. Some sites are more reputable and have been around for longer; they tend to be safer than newer or less well-known sites.

Either a Thursday or Friday evening is the best day for the auction to begin, as this means the auction will be viewed over the weekend, which is peak time for activity. Targeting commuters on their way home creates a viewing window, thus creating interest and optimal viewing over the weekend.

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.

The auctioneer will start the bidding on each item at the starting bid amount. As with silent auctions, the starting bid is set at around 30-50% of the item's market value. The starting bid dictates the minimum amount that the first bidder can bid.

If you win something at an auction, you are legally bound to pay the agreed price once the hammer falls. 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 the event starts to drag on, guests will become tired and head for the exits rather than the silent auction or checkout tables. As Robertson quips, “I've never started a live auction too early, but I've certainly finished them too late.” Most events are 3 to 4 hours long and end around 9:30 pm at the latest.

Antiques, fine artwork, and classic jewelry see the best returns at an auction most of the time. If you're managing the estate for a deceased loved one and wondering which items of theirs would be worth auctioning, you're more than welcome to call and ask us for assistance.

How to avoid getting scammed when using online auction sites? ›

While at the preview, you should inspect the items you want to bid on. Make sure to inspect the item for any damage, things that don't look original, maker marks or signatures, quality, and that the lot number is correct.

However, there are also some drawbacks to online auctions. One of the biggest drawbacks is the lack of personal interaction between buyers and sellers. Buyers are unable to inspect items in person, which can make it difficult to assess their condition and value.

Online Auctions: Convenience at Your Fingertips

Bidders can participate at their convenience, making it suitable for those with busy schedules. Extended Bidding Periods: Unlike live auctions with specific start and end times, online auctions often feature extended bidding periods.

If you bid several days before the end of the auction that gives other bidders all the remaining time to find the listing and bid one or more times against your current showing bid. If you bid in the last seconds of the auction, it's much less likely that other bidders will be able to bid after you.

As mentioned above, the most popular times for sellers to end their eBay auctions is between 6PM to 10PM EST. The reason that this is such a popular time is that it covers your end-of-workday shopping spike from coast to coast, and takes advantage of the time of day when buyers are most active.

eBay bidding tips

Bide your time. By placing your highest bid in the closing seconds, you stand a greater chance of getting the item. If an auction-style listing has a reserve price, bid up to that amount as early as possible, so other bidders aren't attracted by the low starting price.

Bid early and often: Do not be afraid to bid multiple times. There is no limit to how many bids you could or should place, so the main rule is: do not hold back! You do not want to end the auction wishing you had placed another bid, so bid confidently and often.

Don't forget to answer any questions as soon as possible too. Check out our tips to create a great quality listing. Most Trade Me shoppers are online between 7pm and 10pm, Sunday to Friday, so arrange for your auction to close during this time frame.