COVID-19 LOCKDOWN DELIVERIES
Please note that due to the restrictions imposed by the COVID-19 National Lockdown, collection of your purchased lots from our offices will be allowed by appointment only.
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.
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.
Please note that due to high traffic volumes we do not send out notifications in the last 60 minutes of an auction.
|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.
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.
The maximum amount you have entered might not actually be used if the bidding is against you.
A lot currently has a bid of R 1600, you are prepared to bid to R 2000 so you enter a Commission Bid of R 2000. However, since you cannot bid against yourself, your Commission Bid of R 2000 might not actually be used - for instance:
- The current bid is R 1600
- Your bid is R 1700
- Someone else bids R 1800
- Your next bid is R 1900
- Someone else bids R 2000
Your R 2000 maximum will not be used as you cannot bid against yourself and your next bid would therefore be R 2200.