The Auction Process

As technology & web-based solutions continue to change the way business is done in today’s world, the auction industry has also evolved and continues to move with the times, utilizing on-line platforms to expose auctions to a global audience every day.

We at WHAM strive to stay on top of technology advancements in the industry, and realized several years ago the benefits and convenience of utilizing on-line platforms to bring greater value to our sellers and bidders.

WHAM partners with a web-based auction company catering to licensed auctions houses/auctioneers, called Proxibid, to bring on-line auctions to our bidders.

Bidding online is simple and convenient, but for those of you new to online bidding or to Proxibid, here are a few common steps to help you get started.

If I want to bid on an online auction at WHAM, how do I get started?

The 1st thing you will need to do is go to www.proxibid.com and create a bidder account. You will be asked to complete some basic information, and after agreeing to Proxibid’s terms & conditions, you can create a bidder account. Once you create an account, you will be prompted for payment information. Most auction companies on Proxibid require a credit or debit card to participate in their auctions, as we do at WHAM, so please be sure you completely fill out your method of payment information.

Is creating a user account on proxibid FREE?

Yes, creating a user account on Proxibid is free.

Will I have to create a user account every time I want to bid on WHAM?

No. Once you have signed up & created a bidder account once with Proxibid, you will just need to keep that login information with you every time you want to participate in an online auction. You can visit our website www.whamauctions.com to view the latest upcoming auctions and if you see any auctions you want to participate in, just click on the link from our website, and it will take you directly to the auction page on Proxibid, where you can view the entire catalog. The moment you see any items you want to bid on, all you have to do is login using your Proxibid user information, and you are ready to start bidding.

Is my online bid a binding bid?

Yes, once you have placed a bid, just as if you were a bidder in a live auction, and you are the high bidder on an item, you will be charged for the item. It is important to read the terms and conditions for every auction prior to bidding.

How will I be charged

Except for real estate, all lots where you are the high bidder, you will be charged based on the method of payment (credit or debit card on file with Proxibid) selected in your bidder profile in accordance with the terms and conditions of WHAM. It is very important to read the terms & conditions for each auction prior to bidding, as they may change from time to time or depending on the auction. Please note that if you choose to pay by cash or check, you will need to contact the WHAM office at 864.801.9468 for approval prior to bidding. Also, if you need to change the credit or debit card you wish to use for payment, you will have to change that in your bidder profile on Proxibid prior to bidding at the auction.

For real estate bidding on-line, please refer to the terms and condition of payment for each sale. As a general note, since real estate typically involves higher dollar amounts than other lots we sell, a cash deposit at our office will usually be required immediately following the close of auction if you are the high bidder.

Please note it is the responsibility of each individual bidder to determine the availability of funds is adequate to cover the winning purchases, whether paying by credit card, debit card or check.

What is "Lot Times the Money"? Explanation of "Times the Money" and "One Money" Collapse?

During a live auction a lot may be made up of multiple items. The auctioneer can choose to sell the lot as a whole (see Basic Lot – All One Money) or to sell the lot as “Times the Quantity”. If the auctioneer decides to sell the lot as “Times the Quantity” your bid will multiply by the number of items in the lot and you will own all items in the lot.

“Times the Money”, which means the final sale price will be multiplied by the number of items in the lot. For example; if the lot consisted of ten items and the hammer price was five dollars, the buyer would pay fifty dollars.

“One Money” or “All for One,” means the lot is sold for the actual hammer price without multiplying by the number of items included in the lot. For example, if the lot consists of ten items and the hammer price was five dollars, the buyer would pay only five dollars.

How do I create a bidder account?

From Proxibid’s home page, click on “Create Account”, located in the navigation bar at the top of the screen. A credit card is not required to create an account, but to participate in bidding you may have to provide one before you are able to bid.

Can I watch an auction without bidding?

YES! We encourage all new bidders to Proxibid to watch a few auctions prior to placing your first bid. You may watch any live auction by clicking on the button. If you are not logged in, you will launch the application in “View Only” mode. If you are logged in, simply click on the “Sign-Out” link in the bidder app to ensure that you are in “View Only” mode.

After I create a bidder account am I ready to bid?

Make sure you have completed the following steps to be able to bid on Proxibid:

  1. You must have a valid Bidder account – click “Create Bidder Account” from Proxibid.com
  2. Go find an item or auction that you wish to bid on.
  3. Complete your MyProxibid profile when prompted.
  4. You must have the minimum technical requirements to use the Bid Live! Application
Do I have to provide my credit card information when I create a bidder account?

No, creating a new account does not require a credit card. However, to complete your bidder account and gain the ability to bid you will have to provide credit card information for verification purposes.

How do I preview the items of an auction?

All auctions will have a catalog of goods shown before auction day. Click on the auction catalog that you are interested in to view all of the available items in that auction. Images, video and descriptions can be found inside the catalog.

Why didn't I win?

As with any live auction situation, bids may be disregarded by the auctioneer due to human error, technical difficulties, on-site conditions, or any combination of these conditions. Proxibid recommends that bidders bid early and often to ensure the auctioneer is aware of your interest and that your bids are received on site early enough to be represented.

Recommended connections are broadband cable or DSL hardwired to your computer. Wireless, satellite, and 56k modem connections are NOT recommended and the speeds may not permit you to enter the auction. Any delay in signal or noticeable lag during an auction results from these parameters not being met. As always, the purpose of Proxibid is to represent online bidders to the fullest extent.

If you wish to obtain more information contact the auctioneer directly by clicking the or buttons located on either the homepage or catalog.

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