AUCOR Namibia offers online bidders the opportunity to remotely take part in live auction events.
In order to take part in an online auction that culminates in a live auction event, you must have registered and confirmed your user account on this site and paid the required deposit according to the terms and conditions of the auction you wish to participate in.
Online bidding for the auction event will open well in advance of commencement of the live event to allow online users ample opportunity to register their bids before the live event.
Online bidding will be paused for one hour before the scheduled commencement of the live auction event.
Once the live auction event commences, online bidding will be available again and the auction process will proceed at a rapid pace. Only one lot at a time will be actively auctioned during the live event.
The auctioneer will sell one lot at a time during which bids placed at the live event will be registered online by the auctioneer's assistant. Conversely, online bids will be called out to the auctioneer as they are received online.
Bidding for each lot will start at the then highest online bid received or, if no online bids have been received, at the relevant upset price.
The auctioning of a lot typically ranges between 60 to 90 seconds so it is imperative that online bidders monitor the lots to observe when bidding commences for a particular lot. There is no guarantee of lots being auctioned in lot number/naming or any other order. It is strongly recommended that online users place at least one bid on each lot of interest and use the 'My Bids' section of the site to monitor bidding activity on said lots in order to defend their bids once the live auction event reaches the lot(s) of interest.
Bidding for a lot will end when the auctioneer declares it as sold and this will reflect online also. The auctioneer will then immediately proceed to the next lot.
There is no overtime aspect and/or allowance for auctions that culminate in a live auction event. As such, you should not wait until the last minute to register your bid.
Once all lots have been auctioned, the online auction will close also.