2.2 AutoBid

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AutoBid is a powerful new feature from SKL that allows you to specify a maximum bid value. You will not necessarily bid this value but the system will bid on your behalf.

2.2.1 AutoBid basics

AutoBid is a powerful development from SKL which allows the system to place bids automatically on your behalf. It is only available to experienced, trusted users and is not a default feature of every account. To apply for AutoBid status please Contact Us
Enter your maximum bid into the system from the Sale Catalogue or Lot detail page and the AutoBid system will bid on your behalf safe in the knowledge that you won’t go over your maximum. You can view your AutoBid amount on the Sale Catalogue or Lot detail page and this information is only visible to you.
Now just sit back and relax - our AutoBid system will maintain your maximum bid amount.

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2.2.2 Getting Started

In the Sale Catalogue AutoBid is displayed to the right of Manual Bid and can be switched on and off via the ‘Show (Optional Columns)’ panel within ‘Options’ on the left hand panel. At Lot detail level the ‘Your AutoBid’ panel is displayed below ‘Your Bid’ panel. Having reviewed the Lot description enter your maximum bid to the nearest pound – pence are not allowed. Please note that your bid must exceed the Current Leading Bid by at least the Minimum Bid Increment.

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2.2.3 AutoBids Accepted

The system will feedback instantly once your AutoBid has been received by the SKL server. Whilst the Current Leading Bid background bar remains green you have the Current Leading Bid. Bids will now be automatically placed on your behalf, up to your AutoBid maximum and based on the minimum bid increment. Please remember that your AutoBid max may not be enough to meet the Reserve even if you are the Current Leading Bidder.

As other AutoBids and Manual bids are continually submitted you are advised to regularly review your AutoBid position. This is simply done by checking the ‘Only me outbid lots’ option within the ‘Display Which Lots’ section of the ‘Options’ panel on the left. Please note that the system permits the submission of multiple AutoBids by the same user on the same lot via the detail page only which will then compete against each other.

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2.2.4 AutoBids Not Accepted

The system will feedback instantly once your AutoBid has been received by the SKL server. Like Manual bidding, there are a number of scenarios where your AutoBid will not be accepted.

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

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

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

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

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2.2.5 AutoBid Rules

Guide to Sweeney Kincaid AutoBid Function and associated rules  
           
Abbreviations Key:   mb manual bidder  
      ab auto bidder (Maximum bid set in brackets)
      mbi minimum bid increment (£)  
    t1 time of Initial bid received on this lot  
Time Manual Bids (mb) /Auto Bids (ab) placed (in chronological order) Bid Accepted or Rejected Resulting Leading Bid Leading Bidder
         
Scenario 1: Rejected starting Auto-Bid
mbi = £100          
t1 ab1 (£50)
R
£0  
Close  
 
£0  
   
 
   
Scenario 2: Accepted starting Auto-Bid
mbi = £100  
 
   
t1 ab1 (£500)
A
£100 ab1
Close  
 
£100 ab1
   
 
   
Scenario 3: Leading Bid Auto-Bidding against a smaller Auto-Bid
mbi = £100  
 
   
t1 ab1 (£500)
A
£100 ab1
t2 ab2 (£300)
A
£400 ab1
Close  
 
£400 ab1
   
 
   
Scenario 4: Leading Bid outbid by a bigger Auto-Bid
mbi = £100  
 
   
t1 ab1 (£500)
A
£100 ab1
t2 ab2 (£800)
A
£600 ab2
Close  
 
£600 ab2
   
 
   
Scenario 5: 3 Auto-Bidders bid against each other
mbi = £10  
 
   
t1 ab1 (£70)
A
£10 ab1
t2 ab2 (£80)
A
£80 ab2
t3 ab3 (£110)
A
£90 ab3
Close  
 
£90 ab3
   
 
   
Scenario 6: Auto-Bid beaten by a Manual Bid
mbi = £10  
 
   
t1 mb1 (£100)
A
£100 mb1
t2 ab1 (£150)
A
£110 ab1
t3 mb2 (£170)
A
£170 mb2
Close  
 
£170 mb2
   
 
   
Scenario 7: Mixed bid scenario
mbi = £100  
 
   
t1 ab1 (£200)
A
£100 ab1
t2 mb1 (£500)
A
£500 mb1
t3 ab2 (£5500)
A
£600 ab2
t4 mb1 (£5000)
A
£5,100 ab2
Close  
 
£5,100 ab2
   
 
   
Scenario 8: Rejected Auto-Bid
mbi = £100  
 
   
t1 ab1 (£100)
A
£100 ab1
t2 ab2 (£199)
R
£100 ab1
t3 ab1 (£201)
A
£200 ab1
Close  
 
£200 ab1
   
 
   
Scenario 9: An Auto-Bid and a Manual Bid that are identical
mbi = £10  
 
   
t1 ab1 (£100)
A
£10 ab1
t2 mb1 (£100)
A
£100 ab1
Close  
 
£100 ab1
   
 
   
Scenario 10: Two Auto-Bids that are identical
mbi = £10  
 
   
t1 ab1 (£100)
A
£10 ab1
t2 ab2 (£100)
A
£100 ab1
Close  
 
£100 ab1
   
 
   
Scenario 11: Auto Bidder puts in an Auto-Bid of less than his previous Auto-Bid
mbi = £100  
 
   
t1 mb1 (£500)
A
£500 mb1
t2 ab1 (£6000)
A
£600 ab1
t3 ab1 (£5000)
R
£600 ab1
Close  
 
£600 ab1
   
 
   
Scenario 12: Placing an increased Auto-Bid when you are not the Leading Bidder  
mbi = £10  
 
   
t1 ab1 (£100)
A
£10 ab1
t2 ab2 (£100)
A
£100 ab1
t3 ab2 (£150)
A
£110 ab2
Close  
 
£110 ab2
   
 
   
Scenario 13: Placing an increased Auto-Bid when you are the Leading Bidder  
mbi = £10  
 
   
t1 ab1 (£100)
A
£10 ab1
t2 ab2 (£100)
A
£100 ab1
t3 ab1 (£150)
A
£110 ab1
t4 ab1 (£200)
A
£160 ab1
Close  
 
£160 ab1
   
 
   
Scenario 14: Sub Increment Bid when you are the Leading Bidder
mbi = £10  
 
   
t1 ab1 (£70)
A
£10 ab1
t2 ab2 (£105)
A
£80 ab2
t3 ab3 (£100)
A
£105 ab2
Close  
 
£105 ab2
   
 
   
Scenario 15: Sub Increment Bid when you are not the Leading Bidder
mbi = £100  
 
   
t1 ab1 (£490)
A
£100 ab1
t2 mb1 (£250)
A
£350 ab1
t3 ab2 (£500)
A
£500 ab2
Close     £500 ab2
         

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