How is an auction negotiated?
If an auction closes unsuccessfully, i.e. the highest bid is less than the Asking Price, a negotiation may ensue. Our merchandising manager negotiates the conditions with the buyer, on behalf of the seller, till a deal is reached.This could include trying to make compormises in terms of shipping dates, location, quantity, insurance, etc. • How many days does the average auction cycle take? Index Normally 2 weeks, excluding re-created auction cases. • What if there is no winner? Index In cases where no bid has reached the asking price, we may re-create the auction at a later date or try to re-negotiate the Asking Price. Bidding • I want to buy surplus product on the website, what should I do? Index You must place your bid on your selected auctions. The higher your bid, the better your chances are of winning. Minutes after you place a bid, our system will send you a confirmation email with regard to that bid. You can, of course, go back to place a higher bid if you need to. • How do I bi
