What does placing an offer in the pre-auction involve?

If you’re determined to bid on a specific lot, you can place an offer in the so-called pre-auction using the Bid now option. Bids placed this way increase the starting price of the lot, which will then serve as the opening bid in the live auction.

Important! Once placed, an offer is irrevocable – it cannot be withdrawn or reduced! Before placing an offer, make sure you truly want to participate in the auction for that lot.

In exceptional cases, you may try to contact the gallery or auction house to withdraw your offer, but this must be done before the auction begins.

If you want to use the Bid now option follow the steps below:

1. Locate the lot you want to bid on in the selected auction.

2. Open the lot’s page.

3. Find the Bid now frame located on the right side of the screen (on a computer) or in the bar at the bottom of the screen (on a mobile device).

4. In the Bid now frame, in a designated field, enter the maximum amount you are ready to offer in the pre-bidding.

5. From this point until the auction begins, the system will respond to other participants’ bids and bid on your behalf, ensuring that the maximum value you set is not exceeded.

6. Don’t worry! The system won’t immediately offer the full amount you’ve set. It will place increment bids in a way that ensures winning the pre-auction with the smallest possible amount.

7. Once the live auction begins, if your set offer amount hasn’t been used up, the system will continue bidding on your behalf to win the auction with the lowest possible amount.

Important! If the lot’s price exceeds the maximum amount you set, you can continue bidding in person during the live auction or increase your maximum offer before the auction starts.

The key differences between placing an offer in the pre-auction and setting a limit are presented in the section What is the difference between a limit and an offer?

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