Our recent move to LiveAuctioneers was essential for PAE to improve the efficiency and reliability of our auction, and we're so grateful that you've followed with us. As with any transition, there is a learning curve, with one complete auction under our belt we understand more clearly what to expect. For the most part, the software performs exceptionally well. It is intuitive and provides an enjoyable experience for bidders.
While we were excited about the move to LiveAuctioneers, we anticipated the growing pains that come with such a transition. Due to this, we wish to provide clarity on some of the nuances of the system in order to make it easier for everyone involved in the bidding process.
Bidding is open to all registered bidders as soon as we announce our auction, via our website or mailing list (sign up on our mailing list here). Bidders must register for each individual auction. However, once you are approved for one auction, you will automatically be approved for future auctions. We also recommend that our customers follow our auction in LiveAuctioneers via their user dashboard. All lots will be in "preview mode" until live bidding begins, but are open for bidding immediately after the auction is posted straight through to the closing date of the auction.
The auction now closes differently than it used to on our previous platform. Bidders may wish to review or modify their bidding strategy to fit with the new platform. The following is an explanation of how the lots close:
- Live bidding will officially begin at 9:00 pm Eastern Time on the date in which we have chosen for the auction to close. Any bid placed prior to this considered a max proxy bid. Bidders will be able to join the “live auction” from the sale’s main catalog page on LiveAuctioneers.com. Click to enter the live auction and the live auction console will launch in a new window.
- LiveAuctioneers timed auctions are designed to mimic a live, in-person auction. As each lot closes, “fair warning” is given to let bidders know that they have seconds to act. Each lot will come up individually for live bidding in lot sequence, beginning with lot #1. As the lot closes, bidders have ten seconds to enter the next incremental bid. If another bid is recorded, the lot will remain open for additional ten seconds.This bidding will continue until only one bidder remains.
- Once the lot has been closed, the screen will go to the next sequential lot. The process will repeat until each lot has been sold.
Another noticeable feature of LiveAuctioneers that is new to us is the Estimated Item Value. These estimates are required by LiveAuctioneers, and there's a great discourse about the effect of these estimates on the items' performance. While other auctioneers have gone the route of $1 low - $1 mil high, PAE has decided to put in the extra effort to provide a framework that can help educate collectors and provide context to the pieces presented. This will require thoughtful attention as we wish to provide reliable market data whenever possible. We encourage feedback and discourse regarding these values. Our intent to make the world a better place for posters (and collectors) remains the same as it always has been.
Finally, we wanted to address the magnification of our lot photos. In order to get the best view of each image, the image box in the lot description must be clicked. This will open it in a new window. In order to magnify the photo, click on the image again. This will allow you to zoom in and take a closer look. Higher resolution photos can be made available through email at your request.
We are intent on providing the best auction possible and we need your help. We are continually looking for ways to improve our customers' experience and will continue to make improvements to address the needs of our customers. We appreciate any valuable feedback. Please fill out this feedback form, or email email@example.com