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There are (2) things every bidder should know before bidding on any item(s) with Platinum Bid Auction Service.
- We have a Soft Closing System. This means our system was made to be similar to a live auction. If 2 or more people are bidding on one item within 5 minutes of closing time, that lot will extend its live auction time by 5 minutes. This will continue to occur until there are not additional bids made during the 5 minutes.
- We also have a Computer Generated High Bid option. This means that you have the ability to place a one-time bid of the highest dollar amount you are willing to spend. Now, this does not mean you will for certain pay that full amount. The next bid entered once you hit confirm will be only increased by the bid increment. For instance; if there is an item with a $5 bid increment, a current bid of $50, and you the bidder place a $100 high bid, the next bid that would show on the system would be $55, as it only increases by $5. Each item may have a different bid increment on it which you will always be able to see on the site. If you have been outbid, you will get a notification email making you aware if you have chosen this option upon registering.
Why do I need my Credit Card on File?
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Platinum Bid Auction Service requires that a credit card be registered to every user account for each registrant. The credit card verifies you as a real individual, as well as a paying customer. It is not mandatory that you make payment on this credit card. In fact, you have several payment options.
At auction completion you will have two (2) business days to pay your balance in full. All payments must be completed online, or by calling the office. If you have the winning bid on a lot you will receive an email with instructions on how to complete your payment and schedule your pickup.
Currently, we accept the following payment options:
- Wire transfer
- Cash (Only accepted at our Coopersville offices)
If you have not paid your balance in full within two (2) business days, we reserve the right to charge the remaining balance along with a ten (10) dollar processing fee to the authorized credit card.
Platinum Bid Auction Service
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708 O'Malley Dr
Coopersville, MI 49404