The rules, start to finish
How bidding works
Proxy bidding, increments, reserves and the soft close, in plain words. These rules are the same for every lot and every bidder.
1. Your maximum bid
When you bid, you enter the most you are willing to pay. The site keeps that maximum private and bids for you, one increment at a time, only as far as it has to in order to keep you in the lead. If nobody else bids, you win at the starting bid, not at your maximum.
- If someone else’s maximum is higher than yours, the price rises to one increment above your maximum (or to their maximum, if that is lower) and they stay in the lead.
- If two bidders enter the same maximum, the one who entered it first leads.
- If you are already leading, you can raise your own maximum at any time. That does not raise the price.
- Every bid goes through a confirm step, so a typo does not become a bid.
2. Increments
The next bid must beat the current price by at least the increment for that price. Each lot shows its own table; most use this one:
| Current price from | Next bid at least this much higher |
|---|---|
| $0 | $1 |
| $50 | $2 |
| $100 | $5 |
| $500 | $10 |
| $1,000 | $25 |
| $5,000 | $50 |
| $10,000 | $100 |
3. Reserve prices
Some lots have a reserve: the lowest price Weldon will sell for. The amount is not shown, but the lot page always says Reserve not met or Reserve met. As soon as the leading maximum reaches the reserve, the price moves up to the reserve. If bidding ends below the reserve, the lot does not sell.
4. The soft close
Each lot has an end time, shown in Eastern time. Any bid placed in the last two minutes (some lots use a different window, shown on the lot) pushes the end to two minutes after that bid. Bidding ends only when two quiet minutes pass, so there is no point in waiting for the last second.
5. Bid history
Everyone sees each lot’s bid history with anonymous names (“Bidder 1”, “Bidder 2”, in the order they first bid). Your own bids show as “You”. Your maximum stays private while you lead. If someone outbids it, the history shows the amount it reached (marked “max bid”), which is then the amount of your maximum.
If Weldon finds something new about a lot after bidding has started, he posts a dated update on the lot page and every bidder gets a notice; the listing itself no longer changes. If the update is a material change, anyone who bid before it may withdraw their bid while the lot is still open.
6. Winning, paying, collecting
When a lot closes, the leader wins if the reserve (if any) is met. The winner gets an on-site notice and a winner page with the instructions below. Bids are binding: placing one is an offer to buy at that price.
| Payment | Set by Weldon before the lot is listed (shown on each lot page). Online payment (PayPal): in preview, not taking payments yet. |
|---|---|
| Pickup | Local pickup in the Cleveland area. The exact place and times are on the winner page. |
| Shipping | Local pickup only. No shipping. |
| Time to pay and collect | Set by Weldon before the lot is listed (shown on each lot page). |
These are the terms for new listings. Each lot keeps the terms it was listed with, shown on its page, so a later change here never changes a sale already under way.
7. Notices
The site sends no email or text messages. When you are outbid, win, or a lot you bid on closes or is cancelled, you get a notice on the site: the My bids link in the menu shows a count. Lot pages update the price and the clock on their own while you watch.