The auction begins at the date and time specified. All auctions open with the first property, which is displayed at the top of the page. A two-minute auction clock will begin counting down. This will provide a bidding period during which the high proxy bid is calculated and displayed. When the auction clock reaches zero, the highest bidder will be awarded the item, pending final payment.
Any bids placed with less than 30 seconds remaining on the auction clock will automatically extend the bidding period by one full minute (overtime period) assuming that bid exceeds the current high bid. This process will continue until there are no additional bids placed in the last 30 seconds remaining on the auction clock.