2.1 Bidding Basics

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2.1.1 Finding Lots to Bid on

All individual lots are part of a sale listed under ‘Current Auctions’. A sale can contain a single lot or several thousand. The title of a sale should give a good indication of the kind of lots it contains, but it is always advisable to review and print the sale catalogue. If you are looking for a particular item, use the Lot Search functionality available from top central link.

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2.1.2 Viewing assets

Within a Sale, assets may be available for viewing across a variety of locations. Review the sale catalogue carefully to know where the lot you are interested in is located – we always advise viewing of an item before submitting a bid. The panel on the right hand side of Sale Details provides detailed information on asset location, Viewing Days and Collection Deadlines. Please note that some locations may not allow children and may have safety restrictions. SKL take no responsibility for the viewing locations.

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2.1.3 Agreeing to Terms & Conditions and Sale Specific Terms & Conditions

Before bidding on a sale you must accept both the standard terms and conditions and the sale specific terms and conditions. You will not be authorised to bid on a sale until you do so. Due to the diversity of the assets available through SKL the details contained within sale specific terms and conditions can vary widely and you are strongly advised to review these carefully before accepting and bidding on lots.

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2.1.4 Manual Bids

To place a bid on a lot click on the Lot Description text or the ‘Bid Now’ button to be taken to the lot detail page. This page gives further Lot Description information together with the Current Leading Bid and Minimum Bid Increment. To submit simply enter your bid to the nearest pound – pence are not allowed – and click ‘Submit Bid’. Please note that your bid must exceed the Current Leading Bid by at least the Minimum Bid Increment.

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2.1.5 Bids Accepted

The system will feedback instantly once your Bid has been received by the SKL server. Whilst the Current Leading Bid background bar remains green you have the Current Leading Bid. Please remember that your bid may not be enough to meet the Reserve even if you are the Current Leading Bidder. As other Manual Bids and AutoBids are continually submitted you are advised to regularly review your Bid position. This is simply done by checking the ‘Only my outbid lots’ option within the ‘Display Which Lots’ section of the ‘Options’ panel.

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2.1.6 Bids Not Accepted

The website will feedback instantly once your Bid has been received by the SKL server. There are a number of scenarios where your Bid will not be accepted.

  • If your Bid contains pence or non-numeric characters (such as ‘£’) it will not be accepted.

  • If your Bid does not exceed the previous bid by the minimum bid increment it will not be accepted.

  • If your Bid exceeds the previous bid by the minimum bid increment but you are not the Current Leading Bidder a higher bid than previously displayed may have been input before your bid was submitted. Please remember that the page automatically refreshes every 30 seconds (every 10 seconds in the last 5 minutes of a sale) and consider this when bidding.

  • If your Bid exceeds the previous bid by the minimum bid increment but you are not the Current Leading Bidder you may have been outbid by an AutoBidder.

  • If your Bid is 10 times greater (or more) than the Current Leading bid, the x10 Rule applies and caution is advised. Should you choose to submit your bid, it may still then be successful or unsuccessful based on the criteria above.

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2.1.7 Sort and Show options

Within the Sale Catalogue (List View) there a number of Options to customise what and how you show lots. The Options you set will be remembered for that sale until you log out.

  • You may ‘Sort’ the order lots are displayed in by a number of criteria using the pull-down list on left hand panel; clicking on column headers (Lot Description, Current Leading Bid etc) has the same effect.

  • ‘Show (Optional Columns)’ on the left hand panel allows you switch on or off certain columns to customise your view. 

  • ‘Display Which Lots’ allows you to display all lots or only lots you’ve bid on or only outbid lots or only watched lots (in this sale). Within this display group you may choose to ‘Show only open lots’ which removes all closed lots.

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2.1.8 Lot Reserve Value

Each lot has a reserve value set against it within the system. This value is not displayed on the website, but every Current Leading Bid notes ‘Reserve met’ or ‘Reserve not met’. If the sale closes without bids meeting the reserve value, the item may not be sold.

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2.1.9 Minimum Bid Increments

The minimum bid increment is the smallest amount by which your bid can be raised. For example if the Current Leading Bid is £500 and the Minimum Bid Increment is £50, the next bid must be at least £550. A bid submitted that does not take into account the minimum bid increment, will not be accepted. In AutoBid, bids are automatically increased on your behalf, up to your maximum bid, using the minimum bid increment.

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2.1.10 The x10 Rule

The x10 Rule exists to protect users against inadvertently entering a higher than intended bid. If your intended bid is recognised by the system as being 10 times greater (or more) than the Current Leading Bid you will be warned and given the opportunity to re Submit it or Cancel it.

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2.1.11 Watched Lots

If you interested in a particular lot – whether or not you wish to bid on it right away – click on ‘Watch this Lot’ button. This adds it to ‘My Watched Lots’ within ‘My Account’ and enables you to build a custom list of lots you are interested in across all sales. Watched Lots are automatically removed one week after the sale closes.

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2.1.12 The 5 Minute Rule

If bids are received within five minutes of the current closing time displayed then the closing time is automatically reset to five minutes from when that bid was made, effectively extending the time to close. This extension will continue to repeat so long as the above condition is true. This feature is present in order to give all bidders the opportunity to come back and place a further bid if they have been outbid very close to the closing time.

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