Welcome to Lotbid.com
We are a Premier Online Auction Company
Unlike traditional live auctions or eBay online only auctions, LotBid.com brings you a piece of every aspect of the auction buying experience. We are somewhat traditional by allowing previews and pickups, a tiny bit like eBay being online based and allowing shipping, but very much altogether different by being event based, detail oriented photographed cataloging.
Even if you are familiar with our lot bid auctions, take a look around, you should find information regarding our process, policies and techniques very helpful while navigating what we hope becomes your number one auction site thus allowing for a greater bidder experience.
If you ever need additional assistance, be assured our customer service team will be more than happy to assist in any way possible.
With Lotbid Be Prepared for Greater Values
We are an Internet Only Auction Company – We bring the value and you set the price. With great values comes responsibilities. Read carefully through this page and the FAQ for a smoother and brighter auction experience.
Required Registration Process as Follows
Registration is required to bid on an auction. It also helps us qualify bidders. Read through our buying process before registering. Registration is free, however we will authorize your credit card for verification of your identity. With that being said, a credit card is required. If you do not have a credit card contact our office to come in person for the identification process and to place on file a bidders security deposit.
The Lotbid difference vs. the traditional auction experience
Traditional auctions are generally conducted on-site and in place at the asset location. Bidders are required to arrive early for an inspection and must remain onsite for the duration of the event while items are sold one at a time. Removal is usually the sale day, the bidder may be required to come back to pick up their items.
The Bidding Process
Once you are registered and logged in the bidding process is straight forward and easy. Visit an online event with an active catalog. Click the link for online bidding. Place your bid in the box and verify your bid.
LotBid auctions begin bidding weeks in advance of the event closing. Most LotBid auction events feature a preview or open house for inspection one or two days prior to the conclusion of the sale. Bidders can take their time to become familiar with the catalog, bid interactively or set a proxy-bid which allows the system to bid on your behalf up to your set amount. Allowing you to set your schedule for auction buying whether from your home or office.
Staggered and Dynamic Closing
Staggered Closing: The online auction closes 3 items per minute. This feature will close the bidding on intervals. This feature works great with the auto-extend feature to closely emulate a ‘live’ auction.
Dynamic Closing: The closing time of an asset is automatically extended an additional 3 minutes whenever a bid is placed within the last 3 minutes of the asset’s closing time.
If You are outbid you will immediately receive an email notification from us alerting you to the fact. Which hopefully will allow you ample time to bid again or set another proxy-bid.
Winning Bidder Notification: You will be contacted by email ONLY (you are responsible for checking your email) If you feel you have won an item and have not received an email you must notify us by email no later than 9am the next day. If you do not receive a paid email invoice then you did not win any items at the online auction.
Watching: The watching page allows you to view all the lots you are bidding on or watching in one easy list.
Won: Displays only the lots that you have bid on and won.
Lost: Displays lots that you have placed bids on and lost.
My Details: Displays your details and categories of interest you have subscribed to. Also you can change your password on this page.
Buyer Administration Fees
Please note: A 15% buyer’s premium will be added to each purchase. If you bid $100.00 at check out you will be charged $115.00. However there is a 3% discount for cash payments.
All items are required to be picked up at the physical location noted in the event details. On many occasions when an auction is held at our clients location they will often need their location empty so items not picked up during the removal time will be considered abandoned.
Please note: Buyers must bring all tools, people and equipment to safely remove won items. Depending on location and when a forklift is available we will assist with load out. Sometimes this may require an appointment. These instructions will be noted on the auction details page.
We do have a forklift for auction held at our warehouse. Load out should not be a problem. We will note in a particular auction event whether or not an appointment is needed.
Warranty & Condition of Items Sold
All items are sold “AS IS, WHERE IS, with NO WARRANTY expressed or implied. As with all true auctions, all lots are sold without any implied or expressed warranty. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item please bid accordingly. You are bidding on the described item not the photos.