The simple answer -- an Absentee Bid is the highest price you are willing to pay for a specific item as a Registered Bidder By Phone or In Person. It is placed directly with the Auction Company ahead of the sale. It does not include the Buyer’s Premium and/or sales tax; please consider these additional costs before placing an Absentee Bid. Call the Bright Star home office ahead of the sale at 574-825-0704. Our Office Hours are: M – F, 8 am – 4 pm eastern time
Bright Star offers 2 types of Absentee Bids: Absentee Firm Bid or Absentee Bid Plus 1. See descriptions and examples below:
Absentee Firm Bid: Buyer places an absentee bid of $5,000 on a Forklift. In the event of a tie with another bidder, the other bidder will get the Forklift because your bid of $5,000 is “firm” and cannot be increased to break the tie.
Absentee Bid Plus 1: Buyer places an Absentee Bid of “$5,000 plus 1” on a Forklift. In the event of a tie, the Auctioneer will bid one more time on your behalf. If someone does not counter-bid, then the item will be yours.
Again, Absentee Bids do not include Buyers’ Premiums or Sales Tax.
Examples of Absentee Bidding:
“Buyer A” places an Absentee Firm Bid of $2000 on log deck. The bidding action goes up to $1800 and stops. Buyer A is the high bidder at $1800 because the bidding stopped below their Absentee Bid of $2000. With the Buyer’s Premium and tax added in, Buyer A’s total is around $2034.
Here is the breakdown: Highest Bid = $1800; Buyer’s Premium (13%) = $234.
“Buyer B” places an Absentee Bid Plus 1 of $1300 for a pallet of wood. The bidding reaches $1300. The Auctioneer bids one more time on Buyer B’s behalf -- $1350. The other buyer chooses not to counter – so Buyer B is the High Bidder with $1350.
His total: Highest Bid = $1350, Buyers’ Premium (13%) = $175.50. Total due = $1525.50
“Buyer C” places an Absentee Bid Plus 1 of $750 on a log splitter. The auction goes up to $750, the Auctioneer bids one more time for him at $800, but someone counters with $850. Buyer C is out because his absentee bid plus one has been exceeded by another bidder.