Getting Began: On-line Bidding for Freshmen


As soon as you’re accredited to purchase on one (or extra) of our marketplaces, you possibly can log into your market and start bidding on-line. B-Inventory makes use of a number of key options all through our public sale course of to simulate a good “dwell” public sale mannequin (however with out the fast-talking auctioneer!). This publish will information you thru the fundamental steps of putting a bid and educate you key bidding phrases – like proxy and popcorn – to get you in on the public sale motion.  

On-line bidding for freshmen, defined 

An auction-style format means potential consumers compete in opposition to one another to win the merchandise being offered — on this case, a number of liquidated items. On-line bidding could be a enjoyable and thrilling method to buy bulk quantities of stock throughout a variety of product classes like attire, residence & backyard, client electronics, and extra. On-line bidding for freshmen can really feel overwhelming, however we’ll educate you precisely tips on how to place a bid and safe the stock you’re on the lookout for.

Tips on how to Place a Bid:

Every public sale could have a field the place you possibly can enter your most bid; bear in mind, your most bid will have to be equal to or higher than the minimal allowable bid quantity listed beneath the field. As soon as the quantity has been entered, click on the “Bid Now” button. The system could have you verify your bid quantity. You should definitely double-check the quantity earlier than confirming your bid. (The look of every “bid” space would possibly fluctuate from market to market however the steps stay the identical.)

Whilst you’re definitely welcome to repeatedly log in and manually improve your bids, we propose letting our auto-bid system try this be just right for you. Our proxy bidding course of lets consumers enter their most quantity and the system will robotically improve your bid incrementally for you. Extra on how this works is beneath…

What’s a Proxy Bid?

All bids positioned on a B-Inventory market act as “proxy” bids. Your proxy bid is actually your most quantity. Our system makes use of your proxy bid quantity to robotically bid incrementally in your behalf. To get essentially the most out of this technique, we suggest you bid the best quantity you’re prepared to pay, which is named your most bid. As soon as entered, the system will handle the bidding for you, performing as your proxy. This presents our consumers nice comfort as you don’t should be on-line, on a regular basis, updating your bids in real-time. In the event you want to improve your bid, you’ll be able to achieve this at any time through the public sale.

No must run, bidding is enjoyable! Don’t let the thought of putting your most bid scare you. Simply since you enter your most quantity doesn’t imply that’s the ultimate value you’ll pay. The ultimate price relies on the utmost quantity the second-place bidder would pay plus one increment larger.

How Proxy Bids Work: 

Let’s say there may be an public sale that pursuits you with a beginning bid of $1000. You determine the best you’d pay for the public sale is $5000, so that you enter that as your most bid. You at the moment are successful the public sale at $1000. If one other bidder is available in and bids $1100 as their most, then your bid of $5000 will robotically outbid them one increment larger as your proxy. You at the moment are successful the public sale at $1125 with out ever having to bid a second time to ensure you keep the excessive bidder. The system will proceed to robotically outbid different bidders as your proxy, however won’t ever exceed your most bid of $5000.

If one other bidder inputs a most bid over $5000, then you can be outbid. You’ll obtain an e-mail notification and can then have the selection to enter a brand new most bid to behave as your proxy or transfer on to a different public sale.

Bidding Increments:

So what are the bidding increments? We’ve damaged it down like this:

Any public sale heaps promoting for lower than $10,000 improve in increments of $25; whereas something fetching between $10,000.01 and $50,000 will improve in increments of $50. Lastly, public sale heaps going for greater than $50,000.01 will improve incrementally by $100.

Bidding Notifications:

We worth transparency right here at B-Inventory and demand on holding our consumers updated through the public sale course of. Actual-time data is at all times obtainable on the public sale web page and inside your account web page; as well as, you’ll obtain quite a lot of e-mail notifications alerting and confirming your public sale actions each step of the way in which!

For each bid you place, you’ll obtain a affirmation e-mail. If you’re presently successful an public sale lot you can be offered an e-mail alert. Additionally, you will be notified if you happen to’ve been outbid, misplaced or received an public sale.

**Professional Tip! Join our B-Inventory SMS textual content public sale alerts in your account web page. Keep updated in actual time and by no means miss a bidding notification.**

What’s Popcorn Bidding? 

If a bid is positioned within the final 5 minutes of an public sale, the public sale finish time will robotically lengthen for a further three minutes. That is referred to as “Popcorn Bidding” and it offers all bidders an equal likelihood of successful an public sale if a last-minute bid is positioned. Popcorn Bidding is used to forestall different bidders from coming in and “sniping” an public sale on the final second.

On the shut of the public sale, the successful bidder is notified by e-mail. The “Bid Received” e-mail will embrace cost directions;  please observe these directions so the transaction can transfer ahead in a well timed method. As soon as the order is paid, you’ll obtain one other e-mail confirming cost, which may even embrace transport directions. Please observe these transport directions accordingly.

This may even present up as an order on the “Order” web page beneath the “Account” dropdown within the high proper of the web page.

Why did my bid get canceled? 

Typoed bids are a number one explanation for canceled bids. Please learn all pop-up confirmations, public sale lot particulars, and manifests rigorously. Moreover, bidders ought to do their product analysis earlier than bidding.

B-Inventory considers all bids to be binding authorized contracts. Please bid very rigorously. In the event you want to cancel a bid, please know {that a} cancellation payment could apply and a word of it will likely be made in your report. Please perceive that if you happen to proceed to cancel bids, you run the chance of being denied on {the marketplace}.

On-line bidding doesn’t should be exhausting! In the event you’re a newbie, we’re right here to assist. Received questions? Contact us!