Buyer's Guide: Timed Auction

Guide to Buying at Timed Auction

Timed auctions run 24/7. Bid at your convenience from anywhere in the world.

The Format

What is a Timed Auction?

A timed auction works similarly to eBay. Each property has a set start and end date. You place your maximum bid and the system automatically bids on your behalf up to that maximum. When the auction ends, the highest bidder wins.

Comparison

Timed vs Livestream Auction Event

Timed Auction

Livestream Event

Bidding window

7 to 14 days, 24/7

Single scheduled day

Bidding method

Proxy only

Proxy, phone or internet

Exchange

At auction close

At hammer fall

Deposit

Within 24 hours

Immediately at hammer fall

Legal framework

Same. Binding.

Step by Step

How to Buy: 5 Steps

Browse the catalogue

View all timed lots with full details, photos and legal packs.

Register

Free registration. You need to be registered and verified before bidding.

Review the legal pack

Every lot has a legal pack. Read it thoroughly or instruct a solicitor.

Place your maximum bid

Enter the maximum you are willing to pay. The system bids incrementally up to this amount.

Win and exchange

When the auction closes, the highest bidder wins. 10% deposit required within 24 hours.

Key Points

Key Differences from Livestream

No scheduled auction day. Bid anytime.
Extended bidding periods (typically 7 to 14 days)
Proxy bidding only (no telephone bidding)
Same legal framework. Exchange at close of auction.

Terminology

Glossary

Proxy Bid

A maximum bid submitted in advance. The system bids on your behalf up to this ceiling.

Reserve Price

The minimum price the seller will accept. Not disclosed publicly.