Frequently Asked Questions
Why can't I make a 'Buy Now' offer?
Gippswares is an auction house. Our business is to present items for sale at auction and let the market decide how much they are willing to pay.
Occasionally some items may remain unsold at the conclusion of an auction (such as when there are no bids or the reserve price is not met). When this occurs, you are welcome to contact Gippswares to negotiate a private sale.
What is a reserve?
A reserve price is the minimum price a vendor is willing to sell an item for. A reserve price is confidential and Gippswares cannot reveal this to bidders. When you bid, you should only bid the amount you are willing to pay. If a reserve price is met during bidding, this will be indicated on the bidding details page.
How is the winning bid calculated?
The winning bid is the second highest bid plus an increment.
Refer to our
Online Auction Guide for details on the proxy bidding system.
What are the bidding increments?
The 'Next bid increment' is the amount required above the existing bid when placing a new bid. The following increments apply for item prices:
Up to $200: $5
Up to $500: $10
Up to $1000: $20
Over $1000: $50
i.e. if the current bid for an item is $250, the next required bid amount would be at least $260.
What is a maximum bid?
Due to proxy bidding, your bid amount is only raised as high as necessary to be the top bidder, except when you are outbid or someone else bids the same amount. For example, if you bid $200 and someone bids $50, your bid will automatically be raised to $55. If another bidder places a $250 bid, you will be be outbid and the price of the item will rise to $210.
What if I made a mistake when bidding?
Occasionally you may make a genuine mistake, such as entering $3000 when you intended to bid $300, or you bid on the wrong item. If this occurs, please contact Gippswares and provide your bidder number, the lot number, and an explanation of your incorrect bid. It is at the discretion of Gippswares whether your bid will be removed or changed. Note that once an auction has concluded, bids cannot be changed or removed. Therefore, you are advised to bid early and not wait until the very end to reduce your risk of making a mistake that cannot be corrected.
What is 'Soft Ending'?
Soft ending is where the deadline for the end of bidding is extended whenever a new bid is placed within the dying few minutes of an auction. This makes our auctions behave like a traditional live auction, where a bid placed during the 'Going, Going..' stage will delay the end, allowing someone else to bid before it is 'Gone'. Soft ending only applies to the final 5 minutes of an auction, and each time a bid is placed within this period, the auction is extended by 2 minutes.
How will I know when I have won an item?
Items you have won will appear on the 'Items I won' section on your
Account page. You will also receive an email shortly after the conclusion of the auction stating the items you have won. For absentee bidders without an email address, Gippswares will contact you after the auction.
Is postage available? What if I can’t pick up?
Please contact Gippswares after the conclusion of the auction to arrange for postage or delivery. You may also arrange for friends or family to pay and collect the items on your behalf. For this, you must provide us with their full name, and they need to show their ID (e.g. driver's licence) before we can allow third party pickups.
What is Buyer's Premium?
This is a fee charged to buyers by most auction houses, based on a percentage of the winning bid. Buyers must take this into account the premium when bidding on items. For example, if you bid and are successful at winning a lot at $100.00 and there is a 16.5% buyer's premium on that item, then you will pay a total of $116.50. The premium that would be payable should you win the items is displayed on your account page.
What happens if I am the highest bidder but the Reserve isn't met?
Just like real estate auctions, many of our Lots (items) have a reserve price, and there will be instances where the bidding does not meet or exceed the reserve price. When this occurs, the item becomes 'passed in' at the conclusion of the auction. The high bidder of a passed-in Lot will have the exclusive first priority to negotiate with the auctioneer to purchase the item privately. Often the negotiations would mean paying just a little bit more than the highest bid price, subject to approval from the vendor. As the saying goes at live real estate auctions, "you need to be in it to win it".
If an item interests you, bid early with the highest price you would be willing to pay and our Auto Bid system will automatically bid on your behalf up to your maximum. Should other bidders get involved but you remain the top bidder, you will be eligible to negotiate a private sale at the conclusion of the auction should the reserve not be met. Of course, the high bidder of a passed-in Lot has no obligation to purchase the item if they aren't interested in negotiating, just like real-estate auctions.
