The timer displayed on each auction page shows the time remaining to bid on the item. Once the timer counts down to zero, bidding for that auction is closed. However, if a bid is placed during the last 5 minutes of the auction, the closing time will be automatically extended for an additional 5 minutes from the time the last bid was placed. This feature, called popcorn bidding, is recommended for high-value and popular items to prevent bidders from waiting until the last minute to bid without giving other bidders who were outbid an opportunity to rebid.
Once all bidding activity has stopped, the auction will close, and the highest bidder is declared the winner, as long as the reserve price has been met. If the reserve price for an auction is not met by auction close, no winner will be declared, even if bids have been received.
Direct Liquidation's auction system is designed to ensure fairness and transparency in the bidding process. By providing bidders with the opportunity to bid and rebid, Direct Liquidation helps to ensure that the auction process is open and competitive. We are committed to providing a user-friendly experience that allows customers to participate in auctions with confidence and ease.