How Proxy Bidding Works / Max Bid
Similar to eBay’s auctions, you can put in a bid in the koi auctions, and the website will, bid on your behalf and automatically put the lowest bid possible (following the auction’s increment settings which can be £5 or £10.00 increments)while ensuring you’re the highest bidder up to your original max bid
This is called proxy bidding, and it happens automatically on all bids, at anytime you can increase your bid and the website will adjust to bid up to your new higher bid.
If two bidders put in the same highest bids the earliest bidder will be awarded the auction.
If your bid is higher than the next bid increment but not the full bid increment the price will increase to your bid if someone else bids to one increment below your max bid. (ex. you bid for example £145, someone else bids £140, the increment is £10 so it would go to your max bid of £145)
Other bidders cannot see your maximum bid.
Proxy bidding is an easy way to bid and win koi without having to constantly watch an auction.
How To Win – Bidding Best Practices & Methods
Now that you know how the bidding works, let’s dive into a few bidding strategies to learn the best practices. This will explain some of the bidding strategies you may encounter to try and enhance your own bidding to be more efficient.
Proxy Bidding – (mentioned earlier) is the best way to bid on a koi with minimum hassle, and it’s what we recommend. You can put in your maximum bid that fits your budget best, and let the website take care of the rest.
Bid Nibbling – Another strategy called “bid nibbling” is when a person increases their bids by small amounts on a single koi ,this can have the benefit of discouraging non-serious bidders from placing a bid which may save the winner money when the auction ends, the downside to this strategy is that it requires more time and attention to closely watch an auction.
Bid Sniping – is placing a bid in the last minute or few seconds before the auction ends, this is not recommended because a last-minute bid may not be processed in time if one’s internet connection is slow and there is no time to increase one’s bid later, so please don’t wait until the last minute and one of the reasons why the 2 min extension was introduced.
“Buy It Now” Function – A Buy It Now Function will be available from time to time we may use on selected Koi, this gives you the ability to forgo the bidding process altogether and buy the Koi immediately.
The Buy It Now button will disappear after bids meet or exceed a koi’s Buy It Now price.
This strategy quickly removes a koi from other potential bidders with the added benefit that you can receive the koi sooner.
Bid on Multiple Koi – If you want to increase your odds of winning a great koi, you can bid on multiple koi at the same time, by bidding on several koi at once and using the previous strategies, you’re more likely to win one or more of the auctions; and if you lose the auction for your first-choice koi, you may win your second- or third-choice.
Always be very careful though how many Koi you bid on at once as you never know you could win them all so maybe create a bid budget first.
General Schedule of our Auctions
Now that you have a solid foundation, you’re ready to bid! we won’t be running these action all year round only through the season.
Please pay for your koi within 1 day of winning it. You can pay for it online (or over the phone) and we can then schedule your koi shipment after your payment is completed.
If you have multiple koi, you can add each one to your online shopping cart and then pay for them all at once with a credit card or Paypal account.
Be warned: if you make no payments within 30 business days or have any unpaid auction koi, your user account will be suspended on a case-by-case basis.
Shipping Costs
Shipping are charged at a standard rate of £25.00 per box and remember depending on the size of the Koi sometimes multiple Koi can be shipped together in 1single box and would be delivered via A.P.C Couriers.
Important Our Auctions Are For The United Kingdom Main Land Only
We cannot ship Koi to Northern or southern Ireland,off shore or any where in Europe, or some remote areas of the Scottish highlands, so please don’t bid, if you are unsure please contact us first.
IMPORTANT:
Koi shipments can only be on a Wednesday or Friday, so these would be despatched from here on a Tuesday to Arrive on a Wednesday, or Despatched from here on a Thursday to Arrive on a Friday,Once delivery has been arranged please ensure someone will be at the given address to receive the Koi, we cannot be held responsible if there is nobody there to take delivery.
Finally Let The Bidding Begin
Now that you have a solid foundation in how bidding works, it is time to start bidding in the auction good luck and we hope you enjoy this new action site.
Any questions Please do feel free to email us at coastalkoi@gmail.com