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Category  Estimate 
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Brand new items

New bidding function

 

 

Our customers have always appreciated a good bidding war and the excitement of the being part of the final minutes of an auction for an item. Lauritz.com is therefore introducing a new bidding function that will ensure a vital and dynamic bidding progress for all items, also for items with a reserve. The new funcion is not unknown in the auction business but is new a feature on Lauritz.com's platforms.

In all its simplicity the new function works as follows:
In Lauritz.com auctions all lots start with a starting bid of DKK 300. By arrangement with the auction house, a seller can have their item put on auction with a reserve (minimum price). When the bidding starts, bids are placed against this reserve, which is invisible for the bidders. Bids that have not reached the reserve appear in red. As soon as a bid hits the reserve, and above, the bid will appear in black in the bidding history. So red digits then mean that the bid is not high enough.

 



Bidders are always informed if their bid has not reached the seller's reserve. If they sign on www.lauritz.com, in the bidding process the bidder will get the message 'Your bid does not reach the seller's reserve'. If they sign in using the app or the mobile site they will get the message ’Not leading’.

We wish both sellers and buyers a good auction!
 
Read more about bidding at Lauritz.com here.
 
Read more about selling at Lauritz.com here.