This is a traditional English auction, which starts low and allows bidders to place progressively higher bids. Each lot of embryos closes at a specific date and time, and the highest bidder then wins the lot. This is essentially the same format used by eBay.
The bid price is the per embryo price. If a lot has four embryos and the price is $500.00 that means the lot price is $2,000.00. The bids are made in U.S. dollars. When you place a bid, you agree to pay for the item if you're the winning bidder.
Also like eBay, Holstein Plaza uses a "proxy bidding" system, which makes bidding convenient because you don't have to keep coming back to re-bid every time someone places another higher bid.
- When you place a bid, you enter the maximum amount you're willing to pay for the item. The other bidders and the sale organization will not be able to see your maximum bid.
- The Holstein Plaza auction system places bids on your behalf using the automatic bid increment amount, which is based on the current high bid. The system will increase your bid to the next lowest price when another user bids on the same item. This proxy bidding process takes effect once the reserve price has been reached, and continues until your maximum bid amount is reached or the auction ends.
- Again, the Holstein Plaza auction system will use only as much of your maximum bid as is necessary to maintain your position as high bidder.
- Every bidder is bound to his bid.
- If another bidder places the same maximum bid or higher, we'll notify you so you can place another bid. Your maximum bid is kept confidential until another bidder exceeds it.
- Only you know your maximum bid. It is not visible to other bidders or to the sale organization.
Popcorn Clock Extension
For some items, if a bid is received during the final "x" minutes, the clock may automatically be extended by that many minutes. The lot will be closed only once the clock has run out, without any more bids being placed. This is called "popcorn bidding." It is done to prevent last-second sniping and allow all users a chance to place a fair bid.
For More Information
For more information, please see our Frequently Asked Questions page.