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How to bid An internet auction is similar to an auction at an auction house and is governed by the same rules. The items are described, including the starting price. If the potential buyer clicks on Bid or Set limit, he/she accepts the conditions of the purchase agreement and, if his/her bid is accepted as the winning bid, is obliged to buy it.

The course of the auction - recommended procedure

There are three ways to auction:

  • by placing bids raising the current price, incrementally, using field Bid - total amount. This is a standard procedure rather demanding on your time and patience since you compete with other bidders.
  • by setting a maximum limit, using field Set limit for automated bidding. We highly recommend this procedure; it makes the bidding convenient and reduces the time you need to spend at the computer. The bids are placed on your behalf by a control system that automatically responds to bids placed by other bidders. The maximum limit set by you is not the amount you will eventually pay for the item - usually it is much less than that.
  • by using the Buy It Now function. This function has priority and gives you a 100% certainty that you will get the item you want. The auction of the items stops, since the bidder has obtained the item by Buy It Now. The Buy It Now option is only available to the first bidder. After the first incremental bid is made (including yours), the Buy It Now option is no longer provided, and the auction continues in normal manner until its conclusion. In other words, if you wish to use this option, you must do this before anybody else bids on the item.

Example of use of maximum (automated) limit

Set the maximum you are willing to pay for the item, and the system will take care of everything. The frequency and amount of your bids will depend on the bids by other bidders. The automated bidding will take place in your absence, always after a bid by another bidder, up to the amount of the maximum limit set by you. You may obtain the item for an amount lower than the value of the automatic bid, provided, of course, that nobody else outbids you for the item.

You have set the Maximum limit for example at the amount of CZK 1,000.00 for an object with a current price of CZK 500.00. The system will place a minimum bid on your behalf (one increment), i.e. CZK 550.00 (current price + one increment of CZK 50). You have now changed the Highest bid in the auction, and the minimum amount of the next bid is CZK 600.00 (current price + one increment of CZK 50.00). If another bidder decides to Bid the next minimum bid, i.e. CZK 600.00, the system will accept this bid, but at the same time make the next bid on your behalf, at CZK 650.00 (the current price + an increment of CZK 50.00) - which means you are still the Highest bidder. In this manner the system places bids on your behalf until the other bidders discontinue to bid, or the Maximum limit you set is reached. If more than one bidder has set the automated Maximum limit at the same amount, the bidder who has set the limit first will be identified as the Highest bidder.

The price you set as the Maximum limit is completely confidential and not revealed to other bidders; only you as the one who set it can see it on the screen. If you find out in the course of the auction that other bidders are getting close to your Maximum limit, you may increase your limit at any time. Setting the Maximum limit, however, does not guarantee that you will obtain the item. Any bidder may obtain the item by a preferential Buy It Now purchase.

Terminology

Starting price The initial price at which the bidding starts. Usually set at 50% of the estimated price of the item.
Your bid The price you offer for the item. This amount reflects the minimum next bid (the sum total of the highest bid and the increment). Each bid is legally binding and cannot be retracted.
Your Maximum (Automated) Limit The price you offer for the item. This amount reflects the minimum next bid (the sum total of the highest bid and the increment). Each bid is legally binding and cannot be retracted.
Reserve price A minimum that has to be exceeded to make the auction active, otherwise the auction ends without a winner. It is the lowest possible price for which the operator is willing to sell. The reserve price is only disclosed after it has been exceeded, and at the end of the auction, not in the course of the auction.

 

Buy It Now The possibility to buy the item immediately and terminate the auction. For this price, the seller is willing to sell the item immediately. The Buy It Now option is only allowed to the first bidder. After the first bid is placed, the Buy It Now option is cancelled.

 

The highest bid The current highest price that has been offered by you or another bidder; the amount reflects the amount of the last bid.

 

Beginning of the auction The hour, day, month and year; auctions usually take 10 days

 

End of the auction The date of when the auction ends - measured as the hour, day, month and year; each bidder is informed of the end of the auction by e-mail.

 

Remaining time to the end of the auction day hour minute second; time measured in intervals of 30 seconds

 

Number of bids reflects the total number of bids in the auction, including yours. You will be informed of the bids you have placed during the course of the auction by an e-mail sent to your e-mail address
Number of bidders reflects the total number of bidders in the auction, including you.

 

Bid increment this amount reflects the minimum amount by which the next bid will be raised; the increment is always based on the current price of the item (except for the first bid, where the top-up is 0%). This guarantees that the price of the item auctioned will increase continuously.

 

The increments are:
  • up to CZK 1,000.00 in the amount of CZK 50.00 and multiples (100, 150, 200 ... .1000)
  • from CZK 1,000.00 to CZK 5,000.00 in the amount of CZK 100.00 and multiples (1,000.00, 1,100.00, 1,200.00 ... 5,000.00)
  • from CZK 5,000.00 to CZK 20,000.00 in the amount of CZK 500.00 and multiples (5,000.00, 5,500.00, 6,000.00 ... 20,000.00)
  • from CZK 20,000.00 to CZK 50,000.00 in the amount of CZK 1,000.00 and multiples (20,000.00, 21,000.00, 22,000.00 ... 50,000.00)
  • over CZK 50,000.00 in the amount of CZK 5,000.00 and multiples (50,000.00, 55,000.00, 60,000.00 ...)

 

What is the function Course of the Auction for?

During the course of the auction, all registered bidder may view the Course of the Auction screen, reflecting steps taken by all bidders, in time sequence. This information may be used to determine the bidding strategy and tactics of the other bidders, and to place your bids in response to such strategy.

 

What steps to take after succeeding in an auction

If you have succeeded in buying an item by auction, meaning that you were the highest bidder at the time when the auction ended, you will receive an e-mail confirming this. In your customer account My ArtBohemia, in the field My orders, an Open order will appear. After clicking on the item, you will see Order details including the total of the order; you can choose the manner of payment a shipment. The order is confirmed by clicking on Check out.

Click on the Check out. After choosing the most convenient manner of payment and delivery, click Continue. This makes your order binding, and it cannot now be cancelled.

If your order has been accepted, it will appear on the homepage, your My ArtBohemia customer account. Here you can view the status of your order. You will also be informed on individual stages of delivery by e-mail. The order will be shipped to you, in the manner chosen, within 5 working days.

Note: Please proceed from the Basket to the Check out as quickly as possible, and complete your order within 24 hours from the end of the auction. For the time when your order is open, the customer will not be allowed to actively auction or to shop in the Gallery.