24/7 All Online Auctions
Rabin 24/7™ is our timed auction bidding system. All bidding is conducted online. Lots will begin closing at a set time that is designated in the auction announcement. Items will generally close every 2 minutes unless there is active bidding. You will need to register on our site beforehand to get a bidder number.
Tips for Bidding with Rabin 24/7™ All Online Auctions
Pay attention to the amount in the Next Available Bid column, if you see “ea” next to the numbers, you will be paying the amount stated for each item. Quantities will show next to the item description.
If you wish to place a pre-bid before the auction opens, do so in the Maximum Bid Column. This bid must be equal to or greater than the Next Available Bid amount. Once the auction opens, your bid will stay active until someone outbids you or you win the item. You may also place bids in this column when the auction is open; the console will bid for you up until the amount you specified.
As the auction progresses, you will be given cues on how to proceed with items you have bid on. “You Lead” will display below the bid amount if you have placed the highest bid. “Keep Going” will show if you have been beaten out by someone else’s bid.
Each item will display its closing time and date. When an item get nears its closing time, it will enter the “Hot Zone”. When an item is in the hot zone, placing a bid on it will extend the closing time, allowing for bidding to continue as long as bidders are interested in the item.
Items can be sold as groups. There are two different types of groups we use; group versus piece by piece and group bid.
With a group bid, lots are grouped together and sold for one bid amount. The highest bid for the group wins at closing.
In a group versus piece by piece scenario, bidding takes place between the group of items as a whole and each individual piece of equipment within the group. The console adds up all the bids for each individual item and compares it to any bids made on the entire group. If the sum of the bids for the individual items beats the bid amount for the group, the individual items will win. If a group bid is higher than the sum of the individual bids, the group bid will win.