Topics:

BEFORE THE SALE
BIDDING
POST SALE

SELLERS HELP

BEFORE THE SALE

Do I have to accept the Terms & Conditions when signing up for a sale?
Like in traditional auctions, you will be asked to accept the seller's Terms And Conditions of sale for that particular event.

Your bid is a contract so place a bid only if you're serious about buying the item. If you are the winning bidder, you will enter into a legally binding contract to purchase the item from the seller.

Once signed up for the auction with Universal, do I then have to sign up directly with the Seller?
No, as long as you are permitted or registered by Universal to bid, you can bid on any one of Universal's live auctions.

What is the Registration Process?
Once you have registered with Universal you are then permitted to bid on Universal's auctions.
If you have not signed up you must do that first by registering now.

Then you must click on the "Sign Up" button for the auction catalog in which the item you wish to bid on appears.

What are the System Requirements?
These requirements are for Live Bidding only. You are able to browse catalogs, search for lots and place absentee bids from most computers

BIDDING

Can the applet be resized?
No, the applet window will automatically size.

Do I need to download or install any special software?
No, the applet will download when you view the sale, event, or auction referring to the actual live event where the lots are auctioned off to the public. Sometimes, a sale can take place over multiple days. This should take less than a minute.

Even though I am a registered Universal user, I can't log in to bid live
Have you signed up to participate in that specific Live Auction? You will need to. Only registered Universal users who have signed up to participate can bid real-time. To sign up for a particular Live Auction, just go to the Home Page for that auction and click on the "Sign Up for this Auction" button.

How does live bidding work?
This is the moment you've been waiting for: Live bidding.

This is what happens:
The auction starts. You will see on your computer screen a picture of the lot and its opening price. When Internet and floor bidders begin placing bids, your computer screen will show the price as it changes. You will see the current bid amount and who the highest bidder is. If the highest bidder is an Internet bidder, you will see the the words "Internet Bidder"; if it is an offline bidder, you will see the words "Auction House Floor" or "Auction Floor Bid".

Place bids by clicking on the "Bid" button on your screen. The bid button is always updated to reflect the current ask price - the amount that the auctioneer wants for the lot . You can also bid by pressing the enter key or the space bar. (If you have a screen saver on your pc DO NOT cancel it by hitting the space bar, you may find yourself bidding on an item you didn't want.)

The auctioneer can choose to take bids from the Internet or floor bidders at any point. Like a referee, the auctioneer has full authority to decide when to acknowledge bids and what the current price is.

Before closing a lot, the auctioneer will send a "Fair Warning ", which means that the lot is about to close. If you are still interested in buying that lot , hurry up and bid!

All Internet bids placed during a live auction are binding, so think carefully before submitting your bids. Like in all online dealings, failure to complete the transaction is a violation of the all User Agreements and can result in negative consequences.

Since live auctions can be conducted in different currencies, make sure to check the auction currency for each live auction event. All bids and payments must be made in the specified auction currency.

I placed a bid at the current ask price and I am not the highest bidder. Why?
There are usually many Internet and off-line floor bidders participating in an auction. The auctioneer will acknowledge the bid that they receive first. Even if you submit a bid for the current ask price. The auctioneer might get another bidder's offer before yours. When that happens, consider trying again at the next ask price.

What are the different messages that I see on the bottom of my screen?
Most of those are pre-programmed messages generated by the system to help you understand what is happening during the auction. Sometimes, the auction house can also broadcast text messages to all Internet bidders to communicate the progress of the event.

Can I cancel an absentee bid?
Every bid you make on any Universal site is binding. Therefore, we strongly encourage you to read the item description carefully before bidding on any items. If you have any questions regarding the listing, email the seller directly. Please do not contact the seller to retract your bid. Under exceptional circumstances after contact, Universal allows you to retract bids.

It's OK to retract a bid if...

. You accidentally enter a wrong bid amount. For instance, you bid $10,000 instead of $1,000. (If this occurs you will need to  quickly re-enter the correct bid amount).  
. The description of an item you have bid on has changed significantly.
. You cannot reach the seller. This means that you have tried calling the seller and his or her phone number doesn't work, or you have tried emailing a message to the seller and it comes back undeliverable.

It's NOT OK to retract a bid if...

. You change your mind about the item.
. You decide you can't really afford it.
. You bid a little higher than you promised yourself you would go.

You can retract your absentee bid up to two hours before the live event begins. When you retract a bid, you will eliminate all bids you have placed in that auction. So if you are correcting a bid error, you will have to bid again.  If you would like to cancel your absentee bid, please contact or call Universal Live.

Can I check if I am a high bidder before the auction?
Our auction system will collect absentee bids up to the moment of the auction. When the auction starts, we will then "clear" all the absentee bids and calculate what the winning absentee bid is. Therefore, Live Auctions is unable to announce who high absentee bidder is before the auction starts.

How does absentee bidding work?
You found a lot (item) that you really like but you may not be able to come back to bid real-time during the Live auction. You don't have to! Just place an "absentee" bid prior to the end of the live auction on any lot that has not sold.

This is how it works:
Once you find a lot on which you want to bid, register to participate in that auction. After you're approved, go back to the lot page and input the maximum amount you are willing to pay for that lot - that is your absentee bid.

Only approved bidders can place absentee bids. When the auction starts, we then "process" all the absentee bids and calculate what the winning absentee bid is. The winning absentee bid equals the second highest bid plus one bid increment . This value will be communicated to the auctioneer.

Here is an example:

. Rob places an absentee bid of $1,000 for Lot #123.  
. Dan places an absentee bid of $1,500 for Lot #123.
. Ben places an absentee bid of $2,000 for Lot #123.
. When we clear all absentee bids, Ben is the winning bidder with a winning absentee bid amount of $1,600
  ($1,500 plus one bid increment of $100).

When the live auction starts, we will let the auctioneer know that there is an Internet absentee bid for $1,600. If there are no higher bids during the auction, Ben is the winner. However, if floor or real-time Internet bidders place a bid above $1,600, the Live Auctions system will bid on Ben's behalf up to his maximum of $2,000. We will never bid above your maximum amount.

There is also a matter called footing. Since the auction is conducted with fixed increments, it is possible that another bidder will win instead of the absentee bid.

Here is an example:

. Bob places an absentee bid of $1,300.
. Dennis is on the floor bidding live.
. The auctioneer opens the bidding at $1,000, which goes to Bob.
. The next increment is $1,100, which Dennis raises his paddle for and wins.
. The computer proxy bids to $1,200 for Bob.
. Dennis places the next bid and wins the auction at $1,300.

If you look at the progress of the auction, you can foresee that the computer will be unable to bid up to Bob's last absentee bid because he would have to effectively bid against himself to do so. Make sure the absentee bid you place is the maximum amount you're willing to pay because we cannot bid above that amount - even in Bob's case.

The auctioneer is always in full control of which bids are accepted. The auctioneer will call the first bid they see or hear. For example, if a floor bidder catches the attention of the auctioneer before the internet bid is called by the clerk, the floor bidder will win. This is part of the excitement of a real live auction event

How Much Does This Cost?

As a buyer on Live Auctions, you don't pay anything to browse and bid.

You will pay the seller directly in the specified auction currency when you win an auction.

The total amount that you need to send to the seller will be composed of:

• The amount of your winning bid;
• The applicable buyer's premium;
• Any shipping and handling fees described in the catalog or lot pages;
• Sales taxes, if any.

A buyer's premium is an amount traditionally paid by the buyer to the auction house for every purchase in a live auction.

This premium is a percentage of the final price of a lot. For example, if an auction house charges a buyer's premium of 12.5% and you purchase a lot for $500, you will pay an additional $62.50 buyer's premium.

To find out about buyer's premiums and other charges, please read the terms and conditions of sale outlined in the catalog overview page of each individual Live auction catalog carefully.

Your bid is a contract.

Place a bid only if you're serious about buying the item. If you are the successful and winning bidder, you have entered into a legally binding contract to purchase the property bid on from the seller.

You should contact the seller to resolve any questions before bidding.

I can't place an absentee bid?
Have you signed up to participate in the Live Auction in which you are interested? Only users who have signed up to participate in an event can place absentee bids. To sign up, just go to the Home page for that auction and click on the "Sign Up for this Auction" button.

If I leave a bid and then bid live will I bid against myself?
No the system will not allow a bidder to bid against themselves (as long as they are using the same registered username)

In case of ties, who wins?
If two or more Internet bidders place absentee bids for exactly the same amount, the earlier Internet absentee bid will be communicated to the auctioneer. It is the discretion of the auctioneer that determines if the Internet absentee bid is accepted. If there is a tie between a floor bid and Internet bid, absentee or live, the auctioneer decides the winner.

When can I leave a bid?
An auction can be listed on the Live Auctions site several months before the live auction date. During this time you can place an absentee bid.

Will anyone know what my maximum bid is?
No. Your maximum absentee bid is kept secret in the Live Auctions system. Other bidders never see your absentee bid. We will only inform the auctioneer of the amount of the winning absentee bid (one bid increment above the second highest bidder), which can be below your maximum bid.

POST SALE - AFTER I'VE WON AN AUCTION

How Do I Pay?
You will pay the seller directly when you win one of their lots.

The total amount that you need to send to the seller will be composed of:

(1.)  The amount of your winning bid.  You can find this amount (along with your buyer's premium) in the email confirmation sent to you after the auction. The seller can also help you verify the winning bid amount, if needed.

(2.)  The applicable buyer's premium .  Remember that buyers in live auctions are required to pay an additional fee to the auction house based on the final price of the bid. The buyer's premium percentages related to each live auction are described on the corresponding Live auction catalog overview page.

(3.)  Any shipping and handling fees.  Shipping options and associated costs for each auction are outlined on the corresponding catalog overview page.

(4.)  Sales taxes.  The seller will let you know if any sales taxes are due on your purchase.

An auction room is a busy place before and after an auction dealing with hundreds (sometimes thousands) of items. Winning bidders may not get contacted regarding purchases for several days after the auction.

After 3 days of winning the item, if you have not been contacted, you can help speed things along by sending an email to the seller with:

·         The item(s) purchased (lot number/title/user id)

·         Your address

When will the seller ship my purchase?
Shortly after your payment is received by the seller.  Please check the lot description.

How are Live Auctions different from Timed Auctions?

Universal Live Auctions is a unique trading system for live auctions, which is a bit different than the trading system on eBay. The table below explains the differences between Live Auction and Timed Auctions.

Each lot is comprised of one or more pieces that are sold as a group during the live event. Potential buyers bid on the lot as a whole. Lots are grouped into catalogs. Generally, a catalog follows a theme, such as ": Fine Art Prints" or "Coins, Currency and Jewelry".

Viewing a live auction
If you have not signed up to participate in the auction, you can still do so or you can just view the auction without bidding.

When viewing the auction you will be able to follow the live bidding while it happens. However, you won't be able to place bids.

If you want to bid during the auction, register with and sign up for the event by clicking on the "Sign Up" button wherever you see the catalog for that auction. As long as you are a permitted by Universal to bid, you can bid on any one of Universal's live auctions.