How does Premier Auction and Weekly Auction bidding work?
Approved bidders can start to bid as soon as the auction is live and the bidding tool is activated. All bids are entered using the maximum bid model. Bids will be submitted in fixed increments only.
Bids will be accepted until 7:00 p.m. PT on the closing night of the auction. Then, at 7:00 p.m. PT, extended bidding will start (see details below). If you are the only bidder on an item when the auction closes, you will be declared the winner.
How do maximum bids work?
All bids are placed using the "maximum bid" model, which typically represents the highest price the bidder is willing to pay for an item. When a bidder places a maximum bid, the bid will automatically increase competitively, up to but never over, the maximum bid amount. You will be notified if you are the highest bidder, if you've been outbid, and if you've won the item.
Maximum bids are private and are only viewable by the client that submitted the bid. Fanatics Collect does not have access to this information and cannot view bidders’ maximum bids. Maximum bid information is managed on dedicated IT infrastructure and is contractually monitored by an external IT firm. Third-party management of maximum bids ensures the privacy and confidentiality of maximum bid amounts. The IT firm audits access to the data to confirm that no Fanatics Collect personnel ever have access to this information.
Do I need to refresh the page to see the most recent bid in an Auction?
No. The website will automatically refresh when a new bid is placed. You will also be able to follow the header image on the site to see the five most recent bids in the auction.
What are the bid increments?
All items will be sold to the highest bidder when the auction timer expires. All maximum bids will be placed in the following increments:
- $5 - $50 is a $1 bid increment
- $50 - $100 is a $2 bid increment
- $100 - $200 is a $5 bid increment
- $200 - $500 is a $10 bid increment
- $500 - $2,000 is a $25 bid increment
- $2,000 - $5,000 is a $100 bid increment
- $5,000 - $10,000 is a $250 bid increment
- $10,000 - $30,000 is a $500 bid increment
- $30,000 - $50,000 is a $2,000 bid increment
- $50,000 - $100,000 is a $5,000 bid increment
- $100,000 - $200,000 is a $10,000 bid increment
- $200,000 - $500,000 is a $20,000 bid increment
- $500,000 - $1,500,000 is a $50,000 bid increment
- $1,500,000 - $50,000,000 is a $100,000 bid increment
What happens if the insured value is higher than the final bid of the item?
If a card does not receive a bid as high as the insured value - the final bid is still reflective of the true market value at sale. All items listed in our Auctions are subject to the bidding process and depending on the market the values may be higher or lower than you may have anticipated. All items sold in our Auctions will reflect a true Market Value as we do not include any reserves. Additionally our Marketplace trust team reviews our Auctions to ensure that no buyer/seller is attempting to manipulate the value of an item through fake accounts or false bids on items. At the end of the day we let the Market determine the final value of items and will have to stand by the final results.