Bid Extension For Bidders
BID EXTENSION
The phrase Bid Extension (aka Anti-Sniping or Soft Close) is meant to describe the measures used to address bidding practices where a bidder tries to win an item at the last second by placing a bid as late as possible before the online bidding ends. This is often just before the bidding end time with the idea of not giving other bidders time to place a higher bid.
Organizer Key Points
| Online Bidding Options | What Does It Mean? |
|---|---|
| Bid extension trigger window | This is the amount of time, in minutes, before online bidding ends for the item. |
| Bid extension duration | This is how much extra time, in minutes, that will be added to the online bidding end time. |
| Maximum bid extension | This is the maximum amount of time, in minutes, that will be added to the online bidding end time. |
DANGER
Bid Extension Rules ONLY apply to Online type items.
Bid Extension Rules
The Bid Extension Rules are an optional group of settings that allow for the event organizers to ensure all bidders have the opportunity to make their final bid before online bidding ends for the item.
Some bidders will try to use a strategy of placing a bid exceeding the current highest bid as late as possible before the item end time. This is usually seconds before the end of the auction with the idea of not giving other bidders time to outbid them.
The Bid Extension Rules, when enabled in Auctria, are meant to help prevent this kind of strategy from potentially minimizing the highest bid your participants may actually be willing to make.
Auctria Pro-Tip from Launch Services!
ORGANIZERS, it is generally considered a good idea to post on the Auction Website if Bid Extension Rules are being used (see above).
BIDDERS, check with your event Organizer to see if they are using the Bid Extension Rules as well as for any additional explanations you may need.
Bid Extension Rules Example
| Online Bidding Options | Amount of Time (in minutes) |
|---|---|
| Bid extension trigger window | 5 |
| Bid extension duration | 10 |
| Maximum bid extension | 30 |
| Bid Time | Bid Amount | Online Bidding End Time * |
|---|---|---|
| 9:45 PM | $100 | 10:00 PM |
| 9:54 PM | $120 | 10:00 PM |
| 9:57 PM | $130 | 10:10 PM 1 |
| 10:03 PM | $140 | 10:10 PM 2 |
| 10:09 PM | $150 | 10:20 PM 1 |
| 10:17 PM | $160 | 10:30 PM 3 |
| 10:29 PM | $175 | 10:30 PM 4 |
Online Bidding End Time Explanation
- The bid was placed before the Online Bidding End Time and within the
5minute Bid extension trigger window. The Online Bidding End Time is changed to the current Online Bidding End Time + Bid extension duration time. - The bid was placed before the new Online Bidding End Time (10:10 PM) but was not within the
5minute "trigger window". - The bid was placed before the Online Bidding End Time (10:20 PM) and within the
5minute "trigger window". The Online Bidding End Time has now been extended to its "maximum" of the original Online Bidding End Time + Maximum bid extension (10:30 PM). - The bid was placed before the Online Bidding End Time (10:30 PM) and was within the
5minute "trigger window" but the "maximum" extension has already been set.
Proxy Bidding And Bid Extension
By default, the option for Proxy Bidding is enabled for auctions. If a Proxy Bid is made during the Bid Extension window it will be honored as the Bid Extension rules are purely an extension of time.
INFORMATION
If a Proxy Bid exists for an item and another bidder places a bid within the "trigger window", the Proxy Bid will be used for that amount (following the Proxy Rules and using the same bid time) and the Bid Extension Rules will be triggered as above.
Recommended Reading
Reviewed: February 2023