Timed Auctions

Timed Auctions - Auction House

Gonnelli Timebid, a new way for buying at auction


Timed auctions are sales that only take place in the online environment, without the presence of the auctioneer. In a timed auction the user can bid at any time and from any device, during the predetermined period of time. Gonnelli Timebid gives the possibility to send bids automatically by entering a maximum amount for the lots of interest.

The main difference between a live auction and a timed auction is that the latter takes place exclusively online, therefore the negotiations take place virtually, on the website as well as in the Gonnelli Auction House mobile app. Telecommunication technology and our integrated business systems allow you to access the auction anytime and anywhere, without any limitation of place and within a preset time period. The participation at auction and sending of bids are not synchronised with other users as happens in live auctions, users can send bids at any time, until the auction ends.

The bidding monitoring systems are active 24/7 and, if the user has entered a maximum bid, the system will automatically send bids, until the preset maximum bid is reached. Gonnelli Timebid provide two types of screen display, depending on the status of the user: 1. Free access sections, that are usually informative and do not provide access to participating at auctions 2. Controlled access, after registering to Gonnelli, which gives access to receive a userID and a password with which to access the auction system

CREATING A “MY GONNELLI” ACCOUNT


Make the most of Gonnelli auctions by registering to our website.
Creating an account gives the possibility to access a private area of ​​the website where you can make offers, save lots of interest, keep track of sent offers and of the lots you bought in past auctions. Creating an account is simple: the user must fill in all the information requested in the registration form, send a valid ID as well as billing information, and accept our general conditions.

After the account is created, the user will be able to access the MY GONNELLI area. The identity document must be validated by one of our operators within the following 24 hours and, once validated, you can start sending offers on the lots of your interest and make the most of your account to save lots and keep track of the offers sent. For more information, please visit the How to Buy page.

 





PARTICIPATION AT GONNELLI TIMEBID AUCTIONS

Gonnelli Timebid auctions have a duration that varies between 5 and 20 days, time in which it is possible to send offers on the lots in auction. Gonnelli Timebid auction catalogues are published on our website and Gonnelli iOS app. Our timed auctions are promoted in our official channels: newsletters and social platforms. AS soon as the catalogue is published on our website and app, it is immediately possible to send offers, view the catalogue with images and detailed descriptions of the lots, estimates and the status of the single lot as well as the latest offer received.

Also, registered users can check whether they are the highest bidder for a lot of interest by visiting the corresponding lot page. At the end of the negotiation, therefore, at the expiry of the timed auction, the user that sent the highest and winning bid will receive all the information necessary to complete the purchase and receive items they bought at auction.

 


Sending bids in a timed auction

Next Bid

The user can send individual offers from the page corresponding to the lot you are interested in. The system suggests the necessary amount to be entered in order to exceed an existing bid of another user on the lot of interest.

Maximum Bid

In addition to the next-bid mode that allows you to send a single offer on a lot of interest, the user can set a maximum bid and let the system send automatic offers. The maximum bid represents a maximum spending limit that mustn't be exceeded, for the single lot.

A user’s maximum bid is unknown to other users. If the maximum bid has been entered, the system automatically generates automatic bids each time a higher bid is made by another user, until the maximum amount indicated in advance is reached.
The offer is gradually increased by the amount necessary to remain the highest bidder for a lot or to reach the reserve price. If another user makes an offer equal to the one you have selected or sets a higher maximum bid, the system notifies you that your offer has been exceeded, in order to give you the opportunity to re-launch your offer and remain an active bidder in the auction. If, at the end of the timed auction, no other user has sent a higher bid, the lot will be sold at the value of the last bid entered on the lot.

It is essential to follow the auction until the time expires because the system is programmed to accept bids until the auction ends. It is known that, in timed auctions, numerous bids are made at the very end of the sale. For this reason, we invite you to take advantage of the possibility of assigning a maximum bid to the lot or lots of your interest and let the system handle the bidding for you.

From your “My Gonnelli” private area, you may consult, at any time, the status of the offers you sent. In addition, the system provides email notifications in case of status changes for lots for which you sent a bid.

 


Note on postponing the closing timing of lots in Gonnelli Timebid

There is the possibility of postponing the closing of a lot when the system accepts last-minute offers. In these cases the system postpones the closing of the lot to give the possibility to other users to raise bids and send their own offers. However, postponing the closing of a lot does not affect the closing times of subsequent lots.