Auction FAQs Auction FAQs

Auction FAQs

With more than 40 years of experience in the auction industry, the friendly agents at Kaufman Realty are here to share their knowledge. We’ve gathered a list of common questions to help you better understand auctions. If you still have unanswered questions, don’t hesitate to contact us.

Auction questions

What is an auction?

Realty auctions are not like auctions on eBay. They’re authentic auction experiences that often take place in person as well as online. For in-person auctions, people arrive at the auction’s location, browse the lots or property and place their bids when the auction starts. 

Some auctions are online only. These auctions are not taking place in person, and all bids are accepted online. 

Some auctions are in-person only. These auctions do not accept any online bidding, but prospective bidders can view details about the auction online, such as the auction location, catalog and details surrounding the auction.

How do I register for an auction?

Creating your account will provide bidding access to all auctions within our auction network. Learn how to register and bid at auctions so you’re prepared before the auction starts.

Where can I find the terms and conditions for an auction?

Terms and conditions are located both on the main auction event page and on individual lot pages.

How does an auction end?

An auction only ends when bidding has stopped. The auction company hosting the auction will specify the amount of time that must pass before an auction is considered closed.  

Auctions close in a few different ways.  

  1. Some auctions close at a set time, pre-determined by the auctioneer.  
  2. Some auction companies allow time extensions on individual (or multiple) lots within their auction to go into staggered or extended bidding if any of the auction’s lots are still receiving bids. 

Either of these auction types can also have dynamic or extended bidding. The auction will close only when bidding has stopped for a specified amount of time. If dynamic or extended bidding is active, it will be mentioned in the terms and conditions along with the amount of time between bids necessary for an auction to close.

How do I know if I’ve won an auction?

You will receive an invoice via email when you are the winning bidder.

How do I pay for my items?

Payment terms are specified in the auction’s terms and conditions.

How can I contact an auction company?

At the bottom of each auction’s property page, you can send a message to the hosting auctioneer. Questions that other users have asked can also be viewed on these pages. The auction company’s contact details (address, phone number) are also available on the auction property page.

How can I search for a specific item?

Use the search bar at the top of the page to find a specific item in all auctions. You can narrow your search by category or view all lots that match your keyword in all categories. You can also save a search to revisit it later in your account under “Saved Search.”

How do I print auction documentation?

On the auction event page and lot pages, there are links to download PDF files of the auction’s brochure and packet.

How can I find an auction in my state?

Kaufman Realty serves homeowners and business owners in Ohio, West Virginia, Pennsylvania and Florida. All search results can be filtered by state or multiple states, using the lefthand sidebar on all search results pages. To view all auctions and then filter by state, simply select “Auctions by State” from the “Browse By” dropdown on every page, and then filter by your state(s) on the left.

Account questions

How can I update my credit card or account information?

Access your profile settings by logging into your account. 

Once you are logged in, click the “account” link in the upper right-hand corner of the screen.

You will now be able to edit your profile information.

How can I change my notification settings?

Access bidding alerts within your account settings by selecting your preferred notification method. Be sure to save your settings.

Bidding questions

Are there fees for bidding on an auction?

There are no charges to bid. Charges are only incurred if you are the winning bidder. Some auctions may be subject to a buyer’s premium charge, which will be outlined in the terms and conditions of the auction.

How can I see the status of the items on which I’ve placed an online bid?

Click on “Watchlist” in the top right of every bidding page. That will bring up a list of the items on which you’ve placed a bid. Each item will list the time left in the auction, the current bid, your maximum bid and the status of the auction.

Can I raise my maximum bid (even if no one has outbid me)?

You may increase your maximum bid at any time before the auction has ended. If you decide to increase your bid while you are still the high bidder, the current bid will not increase (you will not be bidding against yourself).

How can I make sure I’m seeing the most up-to-date bids?

Remember to refresh your page often to be sure the bids on display are the most recent. Either use the refresh button next to each item in the catalog view or use the refresh button in your browser.

Why can’t I place a bid?

To place a bid, you must be registered and approved for the auction. See how to register and bid for an auction.

How do I remove a bid?

Once a bid has been placed, there is absolutely no way to cancel it under any circumstances.

What does it mean to “jump a bid”?

A “jumped bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150 when the next accepted bid is $125). This practice is used by some bidders to discourage others from bidding in hopes of acquiring an item at a lower price. There are many theories on the effectiveness of this practice, and a bidder who wishes to apply it does so at their own discretion. The auction company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids. 

For more information on auction-specific vocabulary, visit our Auction Dictionary.

Security Questions

Is my personal information secure?

Yes, all personal information and credit card information is stored on a secure server and transmitted with 128-bit encryption.

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