Online Auction FAQ

Startup Stock PhotosA common concern or question is “what about people who are uncomfortable bidding online or they don’e even have a computer?”  The answer is to offer bidding onsite or at our office.  This approach has been executed beautifully by our friend and colleague Tim Dudly with SVN Auction Services Motley in Virginia.  Tim and his staff always create an environment that allows bidders to come to a location where they can bid online with the assistance of his staff.  We are pleased to offer this same service, by setting up laptop computers at the property being sold or bidders can come to our office to bid online.  Our staff will be on hand to answer questions and provide assistance all the way through the auction.

Another great feature and advantage to an online auction is SVN’s Bid to Win “Max Bid” option where the bidder can enter the maximum amount they want to bid on the property and allow the website to bid for them.  Not only do you not have to drive to an onsite auction, you don’t even have to be online during the close of the auction. At the end of the auction, our site will inform you whether you are the high bidder or not.  Does this mean that the maximum price you enter is the price you will pay if you win the auction? Not at all! Even if you were willing to spend one million dollars, if other bidders stopped at eight hundred thousand dollars, the max bidding will stop at the next bid increment above eight hundreded thousand and you would be the new owner of the property for less than your maximum bid. 

Have other questions about auction your property online or bidding on a property online, let us know! bill.menish@svn.com or (502) 939-0399

Don’t forget to register for our online auction this Saturday! Visit www.menishauctions.com/radcliff to register and find more information!