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Bidding

Once you are approved to bid and bidding opens to the public, you can place bids on one or multiple assets up to your approved bid limit.  Please note that your bid limit applies at the sales event level – if you are bidding on multiple assets and happen to win a sale, your bid limit will be decreased by the high bid on that property.

Placing a Bid

To place a bid during a sale, simply click the Place Bid button.  You will be prompted to confirm your bid amount.  Note:  as with your registration, placing a bid confirms again that you have agreed to abide by the Terms and Conditions of the sale.

The default bid amount is the next minimum bid increment.  Users are allowed to bid above the minimum bid increment by typing in a specific bid amount, clicking Place Bid, and confirming the bid.

Time

A countdown is included on each asset webpage.  This countdown indicates when the sale will end.  Note that if a bid is placed by any bidder with under 2:00 minutes left in a sale, the countdown automatically resets the sale end time to 3:00 minutes.  This cycle will continue until bidding activity ceases.

Sale Results

A sale can result in an asset either expiring, being sold, or being sold subject to seller approval.  High bidders will be contacted by RealINSIGHT Marketplace with further instructions should the asset be sold or sold subject to seller approval.

Platform Fee

A 5% Platform Fee is due to the auctioneer on all assets sold on the platform unless an alternative Platform Fee is specifically posted on the asset webpage. Such Platform Fee is in addition to the purchase price and due at closing, along with the amount of the purchase price for the asset (as provided in the Purchase Agreement).  This fee is not negotiable.


If you have any questions or need assistance on the bidding process, please Contact Us.

 

Updated: March 7, 2017