The Surprising Power of a ‘Plus One’ in Absentee Bidding—And Why It’s a Game Changer
Auctions are a thrilling way to buy unique, one-of-a-kind items, but if you’re new to bidding, they can also feel a bit mysterious. One of the best ways to participate if you can't attend in person is called absentee bidding. And here’s where a powerful option comes into play: a “Plus One” feature that can make all the difference when there’s stiff competition for an item. Let’s break down what absentee bidding and “Plus One” are, why they’re helpful, and how they work in a real-life example.
What is Absentee Bidding?
Absentee bidding allows you to participate in an auction without needing to be physically or virtually present. When you place an absentee bid, you set your maximum bid in advance, and then the auction house (in this case, Thomaston Place) bids on your behalf during the live auction. This means that, even though you aren’t there, your bid is still in the mix!
For example, if you submit an absentee bid with a maximum of $1,000, the auctioneer will start at the opening bid amount, and the agent executing your absentee bid will increase your bid to beat other competing bids—stopping at your set maximum. You’ll never pay more than you planned, but if someone else goes beyond your maximum, they’ll outbid you.
What is ‘Plus One’ in Absentee Bidding?
“Plus One” is a small but strategic option that lets you extend your absentee bid by just one increment (a set dollar amount the auctioneer uses to raise bids). If there’s a tie between you and another bidder, “Plus One” allows you to automatically add that one extra increment, potentially breaking the tie and making you the winner.
How Can a Tie Happen in Absentee Bidding?
When two bidders submit the same maximum bid, a tie occurs. At Thomaston Place, if there’s a tie, the first bid received and acknowledged usually wins. But here’s where “Plus One” can be a game changer. With “Plus One,” if your bid ties with someone else’s, you’ll automatically be able to add one more increment to take the lead.
Example: How ‘Plus One’ Can Make You the Winner
Imagine you place an absentee bid with a starting bid of $500 and a max bid of $750. Here’s how the bidding could unfold:
Your Bid: $500
Floor Bidder: $550
Auction House on Your Behalf: $600
Floor Bidder: $650
Your Next Bid: $700
Floor Bidder: $750
At this point, the auction house would check if you’ve authorized a “Plus One” (a one-time option to increase your bid by a single increment; in this example, the increments are $50). If you haven’t selected “Plus One,” no additional bid will be made on your behalf, and the floor bidder wins the item with their $750 bid. If you had selected a “Plus One”, the auction house would bid $800, potentially securing the win and the item for you.
This example highlights how a “Plus One” can give you an edge in competitive bidding situations. While it doesn’t guarantee a win, it offers one extra chance to secure an item. And for even greater control, we also recommend phone bidding, where you can respond directly in real time.
Why ‘Plus One’ is a Game Changer
For newcomers to auctions, “Plus One” might seem like a small detail, but it can have a significant impact. Here’s why it’s a smart choice:
Better Odds of Winning: It adds a boost to your chances of winning if there’s a tie.
Minimizes Risk: The extra bid is only one increment, so you won’t end up drastically exceeding your budget.
Convenient Peace of Mind: You can place your absentee bid knowing that you won’t lose an item simply because someone submitted the same bid a bit earlier.
Frequently Asked Questions (FAQs)
What is absentee bidding?
Absentee bidding lets you set a maximum bid amount in advance, allowing the auction house to handle the bidding for you up to your limit.
What does “Plus One” mean in absentee bidding?
“Plus One” allows you to increase your absentee bid by just one increment, only if it’s needed to win against a tied bid.
How does a tie happen in absentee bidding?
A tie happens when two bidders submit the same maximum bid. Without “Plus One,” the first bid submitted wins by default.
Why use “Plus One” in absentee bidding?
“Plus One” gives you a slight edge without drastically increasing your budget, making it ideal for competitive bidding situations.
Ready to Try Absentee Bidding with “Plus One”?
Now that you know how “Plus One” can give you that winning advantage, you’re set to bid with confidence at Thomaston Place. With this option, a single increment can make all the difference between winning and losing. Happy bidding, and may you find the perfect piece to take home! Contact us to request a phone/absentee bid form.