Quote:
Originally Posted by pgellis
Troy,
Can you explain how the ending of each lot goes down if there is internet and live bidding?
Are the internet bids closed before the live, in-person begins?
Thinking about taking a drive up to Maine for the evening.
Thanks,
Phil
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Hi Phil, the internet bidders bid live during the sale of the lot in real time with the auctioneer. We have internet clerks sitting at each module and they are receiving the bids from remote buyers in real time and yelling the bids out to the auctioneer who accepts them. So Internet bidders, phone bidders, live bidders in the hall all compete against each other in concert and in real time. On average each lot will be open for live bidding for about 1 minute or so while all bids are called by the auctioneer. Once there is no further advance on the bidding the auctioneer sells the lot and we move on to the next lot number.
Troy