Bidding times & procedures

Last Saturday the bidding on our lots have been started and we are happy to see the bids are have started to roll in! As the auction concludes on Saturday, November 30, we would like to take this opportunity to once again clarify the timings and process of our auction. With the first lot closing within the next 48 hours, it’s important to ensure that everyone fully understands how the system works to ensure a smooth and enjoyable participation in our auction.

Times

Bidding on our first lot will end on Saturday November 30, 2024:

• Amsterdam, The Netherlands: 18.00 (CET)

• London, United Kingdom: 17.00 PM (GMT)

• New York, United States of America: 12:00 AM (EST)

• San Fransisco, United States of America: 09:00 AM (PT)

• Dubai, United Arabic Emirates: 21:00 (GST)

• Sydney, Australia: 04:00 AM (1st of December (AEDT))

Bidding procedures

Tracks & Trade operates using a Timed Auction with Staggered Ending format. This allows bidders to place their bids over a set period, with each lot closing at different intervals, ensuring a smooth and focused bidding experience. We will provide further clarification on this principle, as it is essential for everyone to fully understand how the system works:

• Lots will be closed in the order in which they appear on our Auction site. There is always a minimum of 5 minutes between the expiration of consecutive lots. A short video will introduce the next lot.

• Whenever a bid is placed within the last minute of the lot's expiration, 60 seconds is automatically added to the expiration time. This process repeats until no bid is placed before the expiration time.

• When 60 seconds are added to the expiration time of a lot, the expiration times of the following lots all shift by the same amount. This auction principle can cause the expiration time of later-placed lots to significantly increase over time. Make sure to take this into account when planning your own schedule.

• In case you cannot attend the expiration time of your favorite lot until the end, you can still place a bid using a proxy bid up to a self-set maximum, or fill in the bidding form, so that we can bid for you. The deadline for submitting the bidding form is 2 hours before the expiration of the first lot.

• The winning bidder automatically receives a confirmation email within 1 minute indicating that they have won the bidding for that specific lot.

• Almost all lots in this fall auction will be sold as margin items, meaning VAT will not apply to the hammer price. The only exceptions are Lots 507 (Ordnance QF 17-Pounder), 508 (M48A5 Patton), 513 (M2A1 105 mm howitzer), and 527 (T14E1 ARV), where VAT applies. However, for these specific lots, VAT on the hammer price will not apply if you are a VAT-registered company in the EU or an overseas bidder.

Isn't the bidding process clear yet? Then please watch the how to bid & register - video.

Reserve price applicable at Fall Auction 2024

A reserve price is a minimum amount agreed upon by the seller and Tracks & Trade. This means the lot will not be sold below this predetermined value. For all our lots in this auction a reserve price is applicable.

How does it work?

During the auction, if you place a bid below the reserve price, this will be clearly indicated in red: “reserve price has not been met.” If no further bids are placed and the auction ends, the lot will not be sold. However, you will still have the opportunity to place follow-up bids until the reserve price is met.

Once your bid exceeds the reserve price, the status will change to green, showing “reserve price has been met.” At that point, you are the highest bidder. If no further bids are placed and the auction ends, the lot will be yours.

Important

Not registering unfortunately means not bidding. Make sure you are registered as a bidder and able to place a bid. Remember it can take up to 24 hours to get your registration approved. This could be your last chance as the first lot expires with 48 hours. Don’t miss out, register & check!