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                                                   AUCTION TERMINOLOGY:


  • Lot:   A single item—or group of items—being sold in an auction.


  • Flat Bid:  You bid the exact amount you want. If someone bids higher, you're out.


  • Max Bid:  You enter your highest bid. HiBid automatically bids the lowest amount needed to keep you in the lead, up to your max.


  • Soft Close:  If a bid comes in during the final minutes, the lot's closing time extends—so everyone has a chance to respond.


  • Times the Money:   Your bid applies to each unit in a lot. For example, bidding $10 on a lot of 5 items = $50 total.

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