The Online Timed Auction is an automatic system that allows you to bid on lots of your interest in the online catalog for the entire auction.
Online timed auctions take place during a prearranged period of time and without the presence of an auctioneer.
HOW TO PARTICIPATE IN TIMED AUCTIONS
1. Registration on the Site
Registering on the Incanto Auction House site is simple: just create an account by entering "MY INCANTO” on the top right of the sitepage and select “REGISTER NOW". Then you need to enter all the information requested in the fields of the registration form, attaching a front/back copy of a valid identity document and any billing information, and finally accept our general conditions of sale.
It will be possible to participate in the auction only after validation of the documents.
2. Making offers (standard Bid and Maximum Bid)
Once the timed auction is online, you can view detailed descriptions of the lots, images, individual lot status and any available additional photos alongwith the condition reports. It is also possible to request information and view the bid status for the lots you have bid on.
It is possible to make two different types of offers: standard bid and maximum bid.
2.1 Standard Bid
It is easy to make a bid by simply clicking “PLACE BID” and entering the desired amount. The computer system will ask for confirmation of the offer placed. Once accepted, it will immediately inform the user if their offer is valid or is below the reserve or below offers already inserted by other bidders. In this case the bidder will be invited to re-launch.
Even if the entered offer is valid, it may be later on exceeded by other bidders’ offers. The computer system will then send an e-mail message to notify that the offer has been exceeded and will allow to eventually re-launch.
2.2 Maximum Bid
In addition to the standard bid, a maximum bid can be made in timed auctions; the user must enter the maximum amount they are willing to offer, which is never shown to other bidders. The computer system will automatically defend the offer entered up to the amount indicated in case of bids by other users. Bids will still be notified via e-mail messages. If the other bidders’ increments stop before reaching the maximum bid placed by a user, the latter will win the lot at the amount of the last automatic increment and not at the maximum bid.
2.3 Bid managing until the auction closure
Until the sale closes, users will be notified via email if the status of a particular lot changes. Since many offers are made on the final day of the sale, we invite you to stay connected to the online catalog so that you can win the desired lots. If it is not possible to follow the auction directly on the online catalog, we suggest considering the idea of entering a maximum bid for the lots you want to win.
3. Auction Closing Process
On the final day of the auction, the lots will close sequentially at intervals of 1 minute each. The closure of each lot is visible in the lot detail in the online catalog. During the closing phase of an expiring lot, if there is a bidrace in progress in the final minutes, the timer for that specific lot extends to allow others to respond. Every increment will cause a postponement of the expiration of the lot. While the timer for the lot in question extends its deadline, the other lots will follow the set time and continue to expire.
Incanto Auction House declines any responsibility for failure to submit an online offer due to errors in the timing of its placement or to a loss of connection of the operating system or for problems in receiving notifications of outbids or increments.