Hybrid live/Internet Auction FAQ

• In what order will lots be sold and when will my lot be offered?
  
• Can I listen to the Hybrid live/Internet auction bidding over the Internet?
  
• How do I place a bid?
  
• Will I confirm my bid before it is placed?
  
• When can I place bids?
  
• When will my bid be reflected on the auction screen?
  
• When will lots be closed?
  
• Will the closing of a lot be extended if a bid is placed at the closing deadline?
• Is Fair Warning guaranteed?
• Can I see who is bidding against me?
  
• Can I place a Proxy Bid in the Hybrid live/Internet auction?
  
• Am I obligated to pay for all properties on which I place the highest bid?
  
• Once I place a bid, can I retract it?
  

In what order will lots be sold and when will my lot be offered?
Properties will be opened for bidding and sold one at a time, in sequential lot order. The Clearinghouse averages a closing of 35-40 lots per hour.

Can I listen to the Hybrid live/Internet auction bidding over the Internet?
No. The Clearinghouse provides a listen only conference call where you can listen real-time. The dial-in number can be found on the lower right of the bid window. Some people prefer to listen to the live audio when bidding, and others do not. Bidders need to remember to bid on what is on their bid screen and not what they hear on the live feed.

How do I place a bid?
Once you have logged on and opened your bid window, simply wait for your lot to be offered. Once the bidding begins, the asking price will be displayed as the auctioneer increases the bid amount. From your bid window, simply click on the BID button to place a bid at the asking price. If you are the first to bid, our Internet clerk will acknowledge your bid.

Will I confirm my bid before it is placed?
No. In the Hybrid live/Internet auction, clicking on the bid button sends your bid request immediately.

When can I place bids?
You can only begin bidding once the auctioneer opens the lot and begins asking for bids. You may continue bidding until the lot closes.

Will the closing of a lot be extended if a bid is placed at the closing deadline?
Fair Warning or Last Call in any live auction may be considered an extension and a warning that the lot will close imminently. Generally, once a lot is declared SOLD, no further bidding will be considered; however, the auctioneer has the right to re-open bidding on any lot at his/her sole discretion.

Is Fair Warning guaranteed?
Fair warning is not guaranteed. Auctioneers may choose to give a warning that the lot is about to sell. The Fair Warning period will vary between lots, but may not be given at all.