Auction glossaryTimed Auction: How Online Timed Bidding Works
A timed auction is an online auction where each lot has a set closing time and bidders place bids on a website or app, often over several days, with no auctioneer calling. The highest bid when a lot's clock runs out wins. Many timed auctions extend a lot's clock when late bids arrive.
How does a timed auction work?
Auktia runs timed online auctions with a live clock that ticks every second. A typical auction runs like this:
- Bidding opens, often days before the close, with every lot listed with photos and a description.
- You bid directly, or set a max bid and let the system bid for you.
- Lots close one after another, and a soft close extends any lot that gets a late bid.
- Winners get an invoice, pay, and pick up or wait for shipping.
How is a timed auction different from a live auction?
A live auction sells each lot at the auctioneer's pace, and you have to be there, in person or online, as it happens. A timed auction lets you bid on your own schedule and decide calmly. Our timed vs live auctions guide compares them in depth.
Questions people ask
How long does a timed auction last?
The auction house sets it, commonly several days to a week of bidding, with the closing schedule on the sale page.
Do I need to be online when a timed auction ends?
No. A max bid keeps bidding for you up to your limit, and outbid alerts tell you if you've been passed.