Question 1

How do I bid on an auction?

Accepted Answer

To bid on an auction, you must be logged in to your Garage account. Once you are logged in, you can place a bid by clicking the 'Place a bid' button on the auction listing.

Question 2

How does max bid work?

Accepted Answer

A max bid lets you set your highest bid amount upfront. The system will automatically place bids on your behalf, only bidding the minimum amount needed to maintain your position.

Question 3

What's a reserve price?

Accepted Answer

A reserve price is the minimum price that the seller will accept for an auction. If the reserve price is not met, the auction will not sell, unless the seller chooses to accept the highest bid.

Question 4

Is there an overtime period?

Accepted Answer

The overtime period for extended bidding is set at 10 minutes. For example, if bids are placed in the last 10 minutes of an auction, the time remaining will reset to 10 minutes.

Question 5

How do I pay after I've won an auction?

Accepted Answer

After you've won an auction, a checkout button will appear on the auction listing. Payments can be made via credit card, ACH, or wire transfer.

Question 6

What is the buyer's premium or fee?

Accepted Answer

All auctions are subject to a 10% buyer's premium at the time of sale. The buyer's premium is calculated as a percentage of the winning bid. For instance, if a bidder's winning bid is $100, an additional $10 will be added to the total at checkout.

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