Estimate R 2 000 - 3 000
Good.
Not examined out of the frame: appears to be floated to the backing board.
| Current Bid | Increment |
|---|---|
| Under R 200 | R 10 |
| R 200 - R 300 | R 20 |
| R 300 - R 500 | R 20 / R 30 (R 320, R 350, R 380, R 400...) |
| R 500 - R 1000 | R 50 |
| R 1000 - R 2000 | R 100 |
| R 2000 - R 3000 | R 200 |
| R 3000 - R 5000 | R 200 / R 300 (R 3200, R 3500, R 3800...) |
| R 5000 - R 10000 | R 500 |
and so on in multiples of 10 ...
HOW DOES THIS AFFECT COMMISSION BIDS?
Commission Bids are aligned with our bidding increments so should you enter a Commission Bid that is not a valid bidding increment for that lot it will automatically be reduced to the closest bidding increment.
For example:
A lot currently has a bid of R 2000, you are prepared to go to R 2500 so you enter a Commission Bid of R 2500. However, according to the table, R 2500 is not a valid bidding increment so your Commission Bid will automatically be reduced to R 2400.
