IN-PERSON AUCTION:
Pallets will be tagged with a Price, the first person to pull that tag is the winner of that pallet. Once Pulled the pallet is yours if you are caught either putting a tag back on the pallet or just dropping the tag you will be asked to leave no questions asked. Security monitoring is in place throughout our building. If there are any leftover pallets @ 12p the format will change to “Make an Offer”. Garage doors will open right at 11a, and you will file in depending on the spot in the line. An eligible tag puller is defined by when you got into the line. So, that means you can not come after as a friend/family member and jump into the line where they are at, view the map on how the line will form.
ABSOLUTE AUCTION:
Auctions will have a start date/time and a close date/time, highest bid wins, regardless of price, there is no snip bidding or popcorn bidding. Snip/Popcorn bidding is last-minute bidding that causes the auction end date to be extended. This prevents sniping and allows everyone an opportunity to bid before the auction closes.
FIXED-PRICED AUCTIONS:
In a fixed-priced auction, the seller specifies a price for the lot, and the first buyer to click “Buy Now” and complete the buying process is the winner. No one more outbid the buyer for the specific lot.
SEALED AUCTION:
During a sealed bid sale, each bidder submits an irrevocable bid without the knowledge of the bids submitted by other bidders. When the auction closes, all bids are opened simultaneously, and only the highest bid is accepted, as long as it meets the conditions of the sale established by the seller. The winning bidder will be notified immediately thereafter.