Our timed auctions are opened to all registered purchasers for a specified bidding window time (10am– 1pm) and the final and highest bidder will win the lot. Timed auctions do not have an auctioneer, live, calling the bids.
Each lot can be bid on at any time during the defined time period. At the end of this period, the bidder who has submitted the highest bid wins the lot, provided the bid exceeds the reserve price.
Please note: You will be able to see if the reserve price has been met on the screen.
If a bid is placed in the last 10 minutes of the defined time period, the time period will be extended by 10 minutes. This is solely to prevent ‘bid sniping’.
Can’t make a bid during the specified timeslot on auction day? No problem. You can submit a proxy bid at any point before the auction begins.
How? Register to bid now and follow the registration steps. Once you have been approved for auction bidding you will be able to submit a proxy bid.
Submit your best and final bid amount and the system will bid intelligently for you, only bidding enough for you to meet the reserve or stay in the lead. Don’t worry, your maximum bid stays anonymous in our system.
If someone bids higher than your ‘maximum’, we will send you an ‘outbid alert’ via email to let you know, so you can decide whether to bid more.
If you are the highest bidder on a lot then firstly, congratulations on buying at auction. You will have already signed to say that you are happy for us to sign the memorandum of sale on your behalf to allow the exchange of contracts after the fall of the ‘virtual gavel.’
After this has been done one of our team will be in touch once the auction has finished to take payment of the lot deposit and buyers’ premium. Your holding fee will be deducted from the total figure.
Once this has been completed contracts will be sent to your solicitor as well as the sellers with completion usually to take place 28 working days later (or as varied by the Special Conditions of Sale) under the supervision of your solicitor.
As soon as the virtual hammer falls and the auction has ended there is a binding contract of sale. The property is at your insurable risk from this point. Please ensure that you arrange your building insurance immediately after the sale.
Fill out the form below and a member of the auction team will be in contact to arrange a free, no-obligation auction valuation.
Get the auction catalogues delivered to your inbox the moment they are released. By joining our mailing list you will also receive property news, advice and upcoming lots before anyone else!
If you have questions regarding buying or selling at auction or even have a general unanswered question, please fill out the form below and we’ll get back to you shortly, and remember, no question is too small.