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Attention!!!
Get ready for a memorable aucion! We will have a huge Online Only Estate Auction with bidding opening at 6:00am Friday, May 3rd with a soft close at 5:00pm Sunday, May 5th (scroll down this page to see definition of soft close). The preview for this auction will be Friday, May 3rd from 9:00am to 6:00pm and Saturday, May 4th from 9:00am to 1:00pm. If you have any questions or concerns feel free to give us a call at 775-331-4222 or email us at information@lightningauctions.com. Thank you
BID INCREMENTS:$1-50=$2.50, $51-100=$5.00, $101-200=$10.00, $201-1,000=$25.00, $1001-3,000=$50.00, $3,001+=$100.00
Soft-Close > Sniping
Typical internet-only auctions (think eBay) are susceptible to a practice called sniping. Auction sniping is the practice of a bidder waiting until the very last second to place a winning bid on an item with the hope that other bidders do not have time to raise their bid. The intent of sniping is to win an item below the potential high bid (market value). By using a soft-close in our online auction we have eliminated this practice. A lot using a soft-close ending time will automatically have its bidding time extended if a bid is placed in the last minute. Our soft-close setting time is 1 minute, if a bidder waits until the very last second to place a bid on lot 5, the bidding on lot 5 is extended for 1 more minute. This gives other bidders 1 more minute to re-raise their bid. It is not uncommon for a high-interest lot to extend hours past its original close time because multiple bidders keep bidding and extending the close time on the lot.
Disclosure
If your bid on any item is the winning bid, you are responsible to pay for and pick up that item by coming to our Auction House in person no later than the Wednesday following the auction. If you do not come in by the the second Wednesday following the auction, your credit card will be charged for the total outstanding balance. If the item is not picked up after 30 days from the closing date of the auction, you forfeit ownership and the item will be resold through Lightning Auctions. Also if you are the high bidder on any lot in our auto auction or any vehicle we auction, there is $145 document fee added to your invoice.
©2001-2002 Lightning Auctions, Inc.
870 South Rock Blvd.
Sparks, Nevada 89431
775.331.4222 Fax: 775.331.4281
Email: information@lightningauctions.com