How is the Ending of a DPW Auction Different?
Important: All auction ending times are in central time (CDT).
There is no more last second bidding!
Online auctions, which end at a fixed time, can cause anxiety and end in dissapointment when you lose the auction to someone who
was simply able to outbid in the last seconds.
DPW Auctions auto-extend themselves to one minute remaining when
any bid is placed within the last minute of the auction's end.
This means the auction ends only when there is no more bidding in the last minute.
This approach allows the bidder who wants the painting the most to buy it without out any sense of panic.
No need to frantically click the refresh button!
A DPW Auction page will automatically update itself to show the latest bidding during the last 10 minutes of an auction.
There is no need to click the refresh button, simply sit back and watch the timer count down the seconds remaining and
be automatically alerted if anyone outbids you.
How does the DPW Auction Buy It Now Option Work?
An artist can choose to offer a Buy It Now option for a DPW Auction. This option will remain
available until the first bid is placed, after which the Buy It Now option disappears.
When you click the Buy It Now button, you will be taken to a PayPal page where you can pay.
How does DPW Auction Bidding Work?
DPW Auctions uses the familiar
Max Bid proxy approach.
When you place a bid, you are specifying
the maximum you are willing to bid and you are agreeing to allow DPW to place
bids automatically for you up to that maximum when others place bids higher than your high bid.
DPW will automatically place bids on your behalf,
up to this maximum, as others bid.
If someone else places a bid
equal to your maximum, then an auto-bid equal to your maximum is place for you and
you remain the highest bidder.
No one else, not even the artist, knows what your maximum bid is. This keeps another bidder from entering a new bid, just under your maximum,
simply to push the high bid up.
If someone else places a bid
greater than your maximum, then they become the new highest bidder and the new high
bid is equal to your last max bid plus the minimum increment in the following table:
Minimum Bid Increment
You can increase, but not decrease, your max bid at any time.
The DPW Help Center Article Link
How does DPW Auction Following work?
When you follow a DPW Auctions you are agreeing to receive email notifications whenever
a new high bid is placed on the painting you are following.
You will also receive a notification email when the auction ends.
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