Auctionzipauctions (2024)

FAQs

How much does AuctionZip charge for sales? ›

Attract more visitors to your sales by listing on AuctionZip for the low fee of $20 per listing.

Select “My Auctions” and choose whether it is a Current or a Past sale. Click on the sale title.

I accidentally bid on an item, what should I do? Absentee bids can be cancelled through your AuctionZip account. For live auctions, you can cancel an absentee bid up until the time that lot is opened for live bidding.

Sign into your AuctionZip account using your email address and password. Click Online Bidding at the top of the page. Locate the auction you would like to bid in, and click the Enter Auction button to open the catalog.

The sale of Leonardo Da Vinci's “Salvator Mundi” at Christie's New York in November 2017 was a historic event, fetching a staggering $450,312,500.

If you win an auction, the item should appear in your Purchase History as awaiting payment. If not, it should appear on your Bids & Offers page under "Didn't win". If you add an item you are interested in bidding on to your Watch List, that makes it easier to find the item again no matter what happens to it.

Unless they state their reserve price in the listing, you won't know what it is until you either meet it or bid above it. If you bid below the reserve price, you'll see a "Reserve not met" message. This means that even if you're the highest bidder at the end of the auction, you won't win the item.

Research auctions and auctioneers. If an auction claims to be a government auction, reach out to the branch of government hosting the event to make sure it's legitimate. Also, look for valid contact information. Learn the terms and conditions of the auction and check what buyer protections the auctioneer has in place.

If the auction has finished, you can contact the winner and, if they agree, you can cancel the transaction. You can only end auction listings with bids one at a time by selecting a valid reason.

Can you back out of a winning auction bid? ›

In the end, it is up to the Organization running the auction to decide whether to honor the request. If the winning bidder would like to back out after the close of the auction, you can offer the item to the next highest bidder, or close the item as Not Sold.

A seller can cancel any bid at any time before the auction ends. A bidder can retract their bid if the auction has more than 12 hour left. During the final 2 hour, a bid can be retracted only within an hour after being placed.

It normally takes place without an auctioneer. In a silent auction, items are displayed on a table where attendees can see them. Each item has a bid sheet and details about the item. Participants use the bid sheets to place their bids silently on their favorite items.

The answer is that they charge fees - commission - to the seller and to the buyer. All you as the buyer need to do is know what those auction fees are and then take those charges into account when you decide how much to bid. The auction fees to buyers are typically added on to the hammer price.

A reserve price is a minimum price that a seller would be willing to accept from a buyer. In an auction, the seller is not typically required to disclose the reserve price to potential buyers. If the reserve price is not met, the seller is not required to sell the item, even to the highest bidder.

Auction pricing is the price and advertiser pays after participating in an ad auction. The price the advertiser pays for a billboard ad, impressions or ad placement depends on the outcome of the auction.

One of the most significant additional costs for buyers at luxury auctions is the buyer's premium. As explained by The Loupe, auction houses charge a commission on top of the hammer price (the final bid price), which typically ranges from 20-25%.