Pre-Auction Viewings: Prior to the auction, there is usually a designated period for bidders to view the auction lots on offer. This enables the bidder to examine the Auction items, assess their quality, and make informed decisions.
Registration: To participate in The Frequent Auction by AV Globale, bidders are typically encouraged to register beforehand. This involves providing personal information, such as identification documents, contact details, and financial references, to establish credibility and facilitate the bidding process.
Buyers Guide: It is mandatory for a bidder to read the buyers guide before initiating biddings on any auction lot. Buyers guide explains the standard and legal procedures to participate in live auction lot.
Estimates: All auction lots have an estimated range. If the bidding does not reach or exceed the estimated range of price, the auction lot may be withdrawn from the auction.
Bidding Process: The bidding process is based on an Online English Auction format, where a lot's seller sets a starting price, and potential buyers place bids until the price reaches a point where no one is willing to bid any higher or the auction time closes for the specific lot.
Make an Offer: We’ve introduced a feature that allows bidders to submit their highest offer for a lot. If the offer meets the seller’s reserve price, the lot will be secured by the bidder during live auction.
Buyer's Premium: AV Globale does not charge a premium to buyers, allowing them to bid confidently at their maximum price without concern for additional auction house fees
Payment Terms: Successful bidders are typically required to make the payment within a specified timeframe, often within 14 business days from the closing of the auction. Payment methods may vary, so it is essential to confirm the payment options with AV Globale. The accepted currency is in USD and AED.
Ownership and Delivery: Once payment has been made, the buyer assumes ownership of the purchased lot. AV Globale will provide instructions for collection or arrange for shipping and insurance, if applicable. All associated costs and logistics for the transfer of the lot or lots is the responsibility of the buyer.
During the auction all lots are treated independently, increasing the price significantly from the initial starting price. It is important to note that once the price surpasses a certain point, the auction is closed, and no further bids are accepted.
Please note that transparency and ensuring equal opportunities for all bidders are our top priorities. To support this, we have implemented a system where, if a bid is placed within the last 3 minutes before a lot closes, the bidding period for that lot will be extended by an additional 3 minutes to allow others the chance to review and adjust their bids.
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