How to change Bid Increment and Start & Reserve prices once the auction is running

Updating listings' prices is enabled only for selected Machinery auctions

Instructions

Navigate and log-in to AuctionsPlus
Locate and CONNECT to the appropriate running auction
Scroll to any lot that requires a price update
Select Edit Pricing
Select All, On Market or Below Reserve to filter your listings, accordingly
Scroll and select the listings to be updated

Updates to listings' prices may be made up until the auction’s timer is activated.

Updating Start Price

Scroll to the appropriate listing
Update the value in the corresponding Start Price cell
Action for multiple listings if required
Select SAVE
Once updated active bidders will be messaged,
- “Start price has been reduced”

Only those listings that have not yet received a bid are available to update
Start Price may only be updated once
The update must be a decrease
Updates to the Start Price must align to the increment value, e.g.
- Example
  - Increment is $10
  - Existing Start Price = $30
  - Potential new Start Price must be
    - $20
    - $10

Updating Reserve Price

Scroll to the appropriate listing
Update the value in the corresponding Reserve Price cell
Action for multiple listings if required
Select SAVE
Once updated active bidders will be messaged,
1. “The Reserve has been reduced”

Only those listings where bidding has not yet reached reserve
Reserve Price may only be updated once
The update must be a decrease
The update cannot place the lot ‘on the market’.
Updates to the Reserve Price must align to the increment value, e.g.
- Example
  - Increment is $10
  - Existing Reserve Price = $100
  - Potential new Start Price must be
    - $90
    - $80

Updating Bid Increment Value

Scroll to the appropriate listing
Update the value in the corresponding Bid Increment Value cell
Action for multiple listings if required
Select SAVE
Once updated active bidders will be messaged,

“Please note that the bidding increment has changed.”

Increment Value may only be updated once
The update may be either a decrease or increase in value
The update value may not be less then 1% of the Reserve Price
The update vale must be rounded to the dollar
Updates to the Reserve Price must align to the increment value, e.g.
- Example
  - Increment is $10
  - Existing Reserve Price = $100
  - Potential new Start Price must be
    - $90
    - $80

One Bid Away

This feature automatically sets the Reserve and Increment to values that will place the lost ‘on the market’ at the next bid. Especially useful when motivated to sell.

Select the options menu adjacent to the appropriate listing
Toggle the One Bid Away option
Action for multiple listings if required
Select SAVE

Only those listings where bidding has not yet reached reserve
May not be activated if it then places the lot ‘on the market’, i.e. it aligns with an existing under bid