Bidding Explained
Why must I pay $1.00 to bid?
In order to ensure a safe and secure bidding experience, Gustafson's requires bidders to "purchase" for $1.00 access to the auction. This one-time fee grants access to every lot within the auction (and all future auctions) and is immediately refunded in the form of a coupon code. Upon joining your first auction, check your inbox for an email titled "Auction Joining Fee Refund" for a coupon code that can, in the event of a successful winning bid, be applied at checkout. In the event you do not win your desired lot(s), the coupon code will not expire and can either be applied to any future lot or any Gustafson's Buy Now Marketplace offering.
How to Set Up Automatic Bidding?
Automatic bidding allows you to stay ahead of the competition without needing to be on the Gustafson's site and is the easiest way to bid. To set up automatic bidding on a lot, simply enter the maximum amount you’re willing to pay and select "Place Bid". We’ll bid in increments on your behalf to keep you in the lead but only up to your maximum bid. This is known as your "Proxy Bid".
We’ll let you know via email if someone outbids you and you can decide if you want to increase your maximum bid.
Keep in mind when you’re deciding on the maximum amount you’re willing to pay that you’ll also need to cover a buyer's premium, shipping, and local taxes (if applicable).
Bidding on objects can be exciting, but remember it is a contractual obligation. When deciding your maximum bid, be sure you’re happy to pay that amount if you win the auction.
Why Was I Immediately Outbid?
If you are outbid immediately after placing a bid, it’s likely that another bidder is using automatic bidding and has a maximum bid higher than yours. You’ll need to increase your maximum bid beyond theirs in order to be the highest bidder.
Bid Increments
When someone else places a bid, we’ll place a slightly higher bid on your behalf. The amount the bid increases by is known as a bid increment. Bid increments are smaller when the bid price is low and larger when the bid price is high.
|
Current Price |
Bid Increment |
| $0.01 - $1.00 |
$0.05 |
| $1.00 - $5.00 |
$0.25 |
| $5.00 - $25.00 |
$0.50 |
| $25.00 - $100.00 |
$1.00 |
| $100.00 - $250.00 |
$2.50 |
| $250.00 - $500.00 |
$5.00 |
| $500.00 - $1,000.00 |
$10.00 |
| $1,000.00 - $2,500.00 |
$25.00 |
| $2,500.00 - $5,000.00 |
$50.00 |
| $5,000.00 and up |
$100.00 |
I Entered Another Bid and the Current Price Increased Even Though I Was Already the High Bidder?
If you are the current high bidder and want to raise your maximum bid, be sure to bid in excess of the current price + 2x the incremental bid, otherwise the current price will also increase (i.e., you will be bidding against yourself).
For example, if the current bid amount is $100.00 and the minimum increment allowed is $2.50, then if you place a bid for $105.00 (bid price + 2x the incremental bid) the price will then increase to $105.00. You must bid more than $105.00 to set a new maximum bid.
To avoid this, carefully consider the highest price you’re willing to pay for an auction lot, and we'll do the rest.
Why was the closing time extended in the final minute?
All lots are scheduled to close at the same time but will be extended by two minutes if a bid is placed within the final minute before the lot’s scheduled closing time (i.e., "Popcorn Bidding"). This prevents sniping and allows everyone an opportunity to bid before the auction closes. A lot can be extended up to five times.