Types of Bidders

Registrants are classified into three groups, Good Bidders, Standard Bidders & Bad Bidders. Bidder classification is based off the bidder’s previous bid and payment history with the auctioneer. This classification is at the auctioneer’s entire discretion.

• Good Bidders. Will be approved for all registrations and have no set spending limit.
• Standard Bidders. Will be approved for all registrations and have a spending limit set based on each individual auction registration, details of which can be found in the auction information. Should registrants wish to increase their spending limit they may pay a surety deposit of more than ten percent (10%) of the specific auction’s spending limit. Any amount of surety deposit paid to the auctioneers above ten percent (10%) of the set spending limit per auction will increase the spending limit per auction at a ratio of 1.00 deposit : 10.00 spending limit increase.
• Bad Bidders. Will be rejected for all registrations unless they make payment of a surety deposit to the auctioneer in which case they will then be approved and have a spending limit set at a ratio of 1.00 deposit : 2.00 spending limit.