In order to achieve the best possible results on our online-only auction platform, and to make the bidding process as fair and manageable as possible for sellers and all prospective bidders, we have implemented lot bidding extensions and commission bids • Find out more »
LOT BIDDING EXTENSIONS
Where there is bidding activity on a particular lot within 5 minutes (300 seconds) prior to the lot's allocated closing time, there will be a 5 minute bidding extension on that lot until only one bidder remains. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 5 minutes (300 seconds) implying that there is no further interest. This extra time is designed to accommodate interested bidders and allow them the time to compete for a lot until their ceiling has been reached.
This is also designed to avoid the last-minute rush where bidders log onto Strauss Online at the end of the auction in an effort to leave a single winning bid seconds before the sale's closing time. This is called sniping and is considered unfair practice to both buyers and sellers and the lot bidding extension has been designed to avoid this.
COMMISSION BIDS
Due to the huge surge in activity on Strauss Online in the last 60 minutes prior to the auction closing-time, we encourage bidders to leave commission bids on lots in which they are interested to avoid the possibility of being unable to access the site or a particular lot shortly before the sale's closing-time and risk losing the lot.
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