What do I have to do to sign up for an auction?
Once you are on the auction page of our website click on ‘Create an Account’ and fill in your basic information. You will receive an email to verify your account and username.
If I bid in an auction later on do I have to make a new account?
No you can sign-in using your existing username and password.
What if I forgot my username?
You may use your email to sign-in instead of your username.
When you reset your password all of your information will be maintained.
What if I forgot my password?
Enter your email into the blank field and press enter, you will receive a link to reset your password.
What if I forgot which one of my emails that is associated with my account?
Call icollector® Tech Support (our auction web platform)
Technical Support is available Mon-Fri 8:30am-5:30pm (Pacific UTC-8) and during all regularly scheduled auctions.
Call BTM Industrial Tech Support
Available Mon-Fri 9am-5:30pm (EST).
What does Maximum Bid mean and how does it work?
A maximum bid is the highest amount you would like to pay for an individual lot (not including buyer’s premium). By placing your top dollar into that field you don’t have to sit and watch the auction every minute to ensure a win. The system will bid for you up to the dollar amount you specified.
If I put in my max bid does it instantly get bid up to that dollar amount?
No, no matter what amount you enter into the max bid field the system will only bid for you at the appropriate bid increment for that lot. A bidding increment list is located on each lot page under the bidding field. You can raise your max bid without changing the status of your current winning bid. (Raise max bid from $250 to $400 and your current winning bid of $195 will stay the same.)
I put in a bid (example $100) but now there is another bidder's username showing as the winning bidder for the same $100, why?
There was at least one bidder who put in a max bid larger or equal to $100 before you put in your single bid of $100. Because they have placed their bid earlier than you their bid takes precedence over your bid.
NOTE: When it comes to placing a max bid, even if two bidders have put in the same amount, the major factor is who placed their max bid first.
The bid price was at $300 and I put in a max bid of $2000, why did the bid jump instantly to $1600?
That action shows that there was at least one bidder who had a max bid placed for $1500 and since you over bid those bidders with the amount of your max bid the system out bid the other bidders at the next available bidding increment to make you the winner.
Do all of the lots close at the same time?
No, each lot has their own closing clock.
Why did the closing clock on the lot I was bidding on just add minutes?
If a bid is placed within the last 5 minutes of any individual open lot than 5 minutes are added to the time clock. Example: if there are 3 minutes left in the auction for Lot 23 and a bid was placed than the clock will be reset to 8 minutes (original 3 minutes plus 5 minutes).
What is a Buyer’s Premium?
In auctions, the buyer's premium is a percentage additional charge on the hammer price (winning bid at auction) of the lot that must be paid by the winner. It is charged by the auctioneer to cover administrative expenses.
How much is the buyer’s premium?
15% is the standard but for credit/debit card payments or PayPal payments the premium is 18%.
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