TELEPHONE/INTERNET BIDDING PROCEDURE FOR THE AUCTION
TWENTY MINUTE RULE GOES INTO EFFECT AT 9:00 PM EASTERN
WEDNESDAY, AUGUST 21, 2019 FOR THE RICHARD MERKIN ONLINE ONLY AUCTION
All items are on INDIVIDUAL timers. Each item will close once its 20 minute countdown clock expires.
Each item will close when it has not received a new bid for a period of 20 minutes after 9:00 PM Eastern on the published closing date of the auction.The soonest any item will close is at 9:20 PM Eastern on the published closing date of the auction.
Items that have not received any bids by 9:20 PM Eastern will close.
If the current high bidder raises their maximum bid once the 20 minute rule is in effect, the clock on that individual item will NOT reset. The 20 minute countdown clock will only reset when competing bids are placed after 9:00 PM Eastern on the published closing date of the auction.
The entire auction will close automatically when 20 minutes pass after the last bid is placed and no new bid is placed on any auction item. At that point, no new bids will be accepted after the auction closes and each lot will be awarded to the highest bidder.
Clicking the "Time Left" column on any page of our website will organize items by time remaining. This is the best way to monitor when items could close. Using a modern web browser such as Chrome, Firefox or Safari will result in the best experience while bidding on our website. If you experience difficulties in bidding, please refresh the page. If the problem persists, please call us toll free at 866-404-9800.
TELEPHONE CALL BACKS
Call backs will be accepted on any item beginning at 9:30 AM Eastern on the published closing date of the auciton. You must be the high bidder on the item to rerquest a call back. You must be available to receive a call the entire closing day at the phone number provided, as we could call at any time. If you do not answer we will leave a voice mail (if possible) and the call back request will be removed from our system.
Bidders have the final responsibility for monitoring the status of their bids.