Our Extended Bidding Model for Liquid Auctions is aimed at optimizing the buyer experience and increasing realized value for our sellers. With our recent updates to this model, all cards within an auction will enter into extended bidding at 9PM ET on the night of auction close. The entire auction's end time will extend if any card receives a bid during the extended bidding window. The duration of the extended bidding window will gradually decrease over time to ensure a fun, quick closing experience for our collectors.
Frequently Asked Questions
What is Alt’s Extended Bidding Model?
A: At 9PM ET on the night of Liquid Auction close, all cards within the auction catalog will enter into Extended Bidding. If any card receives a bid during the Extended Bidding window, the entire auction's end time will extend by a fixed amount. The duration of the extended bidding window will gradually decrease over time, in an effort to help prevent the auction from extending late into the night.
How will the Extended Bidding window decrease over time?
A: The Extended Bidding window will gradually decrease as time passes on the night of auction close. If any card receives a bid during Extended Bidding, the entire auction will extend by the predetermined amount, depending on the time. The time increments are as follows (note all times listed in Eastern Time):
- 9:00 - 9:30 PM: 5 minute extension
- 9:30 - 10:00 PM: 2 minute extension
- 10:00 - 10:30 PM: 1 minute extension
- 10:30 - 11:00 PM onwards: 30 second extension
- 11:00 PM onwards: 10 second extension
When does the Liquid Auction officially end?
A: During the Extended Bidding session, if an extension period passes without any card receiving a bid, the auction is then considered over.
How does the Extended Bidding model affect the buyer experience?
A: Our Extended Bidding Model aims to address challenges that buyers have previously faced with an individual lot closing structure. With this model, buyers can now be more organized by eliminating the need to track individual closing times for cards that they are interested in. Buyers will have sufficient time to participate in a more engaging auction experience by having the opportunity to bid on alternate cards if they’ve been priced out on one that they were targeting, allowing them to fully optimize their budgets.
Is the Extended Bidding session exclusive to certain users or auctions?
A: No, Extended Bidding is open to everyone and you do not need to place a qualifying bid in order to participate!
If you have any additional questions, please feel free to reach out to our Support team at email@example.com for assistance.