GENERAL ON-LINE BIDDING TERMS &amp; CONDITIONS<br>
GILBERT KATZ ESTATE ON-LINE ONLY AUCTION<br>
AUGUST 26TH, 2014 ~ 7 P.M.<br>
123 CHURCH STREET, MARTIN, TN 38237<br>
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1. THE PROPERTY LISTED AND ESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHMENT, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND PLACE OF THE AUCTION FROM THE AUCTION BLOCK. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION BLOCK SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT OR REPRESENTED BY AN AGENT, ANY ABSENTEE BIDDER OR ON-LINE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.<br>
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2. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS” AND “WHERE-IS” AND NEITHER ALEXANDER AUCTIONS &amp; REAL ESTATE SALES, THE AUCTIONEER, NOR THE SELLER MAKES ANY EXPRESSED OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. <br>
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3. IN NO EVENT SHALL ALEXANDER AUCTIONS &amp; REAL ESTATE SALES, THE AUCTIONEER, NOR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. <br>
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4. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE AUCTION OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. <br>
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5. Neither ALEXANDER AUCTIONS NOR THE EXECUTORS OF THE ESTATE HAVE ANY KNOWLEDGE AS TO THE CONDITION OF ANY OF THE CAMERAS AND ACCESSORIES IN THE AUCTION.<br>
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6. Neither ALEXANDER AUCTIONS NOR THE EXECUTORS OF THE ESTATE HAVE ANY KNOWLEDGE AS TO THE BRANDS, MODELS AND CONDITION OF ANY OF THE FOUNTAIN PENS AND WATCHES IN THE AUCTION. <br>
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7. DR. KATZ LIKED TO WRITE WITH HIS PENS. ALEXANDER AUCTIONS NOR THE EXECUTORS OF THE ESTATE MAKE NO REPRESENTATION AS TO WHAT PENS HAVE OR HAVE NOT BEEN INKED.<br>
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8. ALL BIDS ARE SUBJECT TO ACCEPTANCE BY THE AUCTIONEER. NO BID SHALL BE DEEMED A VALID BID UNTIL ACCEPTED BY THE AUCTIONEER. ALL BIDS ARE ACCEPTED AT THE SOLE DISCRETION OF THE AUCTIONEER.<br>
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9. THERE IS A 5 MINUTE EXTENDED BIDDING PERIOD IF BIDS ARE PLACED ON A LOT WITHIN THE LAST 5 MINUTES OF THE AUCTION. BIDDING ON THAT LOT WILL EXTEND FOR ANOTHER 5 MINUTES.<br>
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10. ALL BIDS SHALL BE DEEMED PENDING UNTIL DULY ACCEPTED BY THE AUCTIONEER.<br>
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11. THE AUCTIONEER HAS THE SOLE DISCRETION TO ADVANCE THE BIDDING AND MAY REJECT ANY AND ALL BIDS WHICH, IN THE AUCTIONEER’S SOLE DISCRETION, DO NOT ADVANCE AND/OR ARE INJURIOUS TO THE AUCTION, INCLUDING BUT NOT LIMITED TO NOMINAL, SUSPICIOUS AND/OR SUSPECT ADVANCES.<br>
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12. IF YOU ARE THE SUCCESSFUL BIDDER, YOU AGREE TO PAY THE AMOUNT OF YOUR BID PLUS ALL TAXES AND PREMIUMS IN ACCORDANCE WITH ALL WRITTEN OR ORAL TERMS AND CONDITIONS OF THE AUCTION.<br>
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13. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASONS.<br>
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14. THE AUCTIONEER SHALL HAVE SOLD DISCRETION IN DECIDING THE SUCCESSFUL BIDDER IN THE EVENT OF A BIDDING DISPUTE. AUCTIONEER’S DETERMINATION OF THE SUCCESSFUL BIDDER SHALL BE THE FINAL DETERMINATION OF THE SUCCESSFUL BIDDER.<br>
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15. BY PLACING A BID, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS WHICH ARE SET FORTH BY ALEXANDER AUCTIONS &amp; REAL ESTATE SALES AND EXPRESSLY ACKNOWLEDGE AND AFFIRM THAT YOU HAVE READ AND ARE FAMILIAR WITH THESE TERMS AND CONDITIONS.<br>
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16. ALL SALES ARE FINAL UPON THE DETERMINATION OF THE SUCCESSFUL BIDDER BY THE AUCTIONEER. NO SALES CAN BE CANCELLED. NO ITEMS CAN BE RETURNED. <br>
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17. BY PLACING A BID, YOU ACKNOWLEDGE THAT YOUR BID IS A LEGALLY BINDING OFFER TO PURCHASE THE ITEM OR PROPERTY BEING AUCTIONED.<br>
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18. TIME SHALL BE OF THE ESSENCE.<br>
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19. THE SUCCESSFUL PURCHASER AGREES TO PAY ANY AND ALL REASONABLE ATTORNEY’S FEES AND COSTS INCURRED BY THE AUCTION COMPANY, THE SELLER AND/OR THEIR SERVANTS, AGENTS OR EMPLOYEES IN THE COMMENCEMENT OR DEFENSE OF ANY ACTIONS HEREUNDER AS WELL AS IN THE COLLECTION OF ANY OBLIGATIONS HEREUNDER.<br>
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20. ALL PROPERTY IS SOLD “AS IS”. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE THE NATURE, CONDITION AND STATE OF TITLE OF EACH ITEM PURCHASED. THERE SHALL BE NO RETURNS OR EXCHANGES. <br>
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21. UNITS MAY NOT BE COMPLETE AND ARE SOLD AS PARTS.<br>
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22. VENUE &amp; JURISDICTION OF ALL DISPUTES, ANY AND ALL DISPUTES WHICH MAY ARISE BY VIRTUE OF THIS AUCTION SALE OR STEMMING FROM THIS AUCTION SALE SHALL BE IN THE STATE COURT OF WEAKLEY COUNTY, TENNESSEE.<br>
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23. CHOICE OF LAW: THE LAW OF THE STATE OF TENNESSEE SHALL GOVERN THE INTERPRETATION OF ANY AND ALL DISPUTES OR OTHER MATTERS RELATING TO THE SUBJECT SALE AND/OR STEMMING FROM THIS AUCTION SALE.<br>
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24. BIDDER ACKNOWLEDGES THAT NO RELATIONSHIP OF ANY NATURE OR TYPE, AGENT, EMPLOYEE, INDEPENDENT CONTRACTOR OR OTHERWISE, IS CREATED BETWEEN BIDDER AND AUCTIONEER, AFFILIATED AUCTION COMPANIES, AFFILIATED SOFTWARE COMPANIES AND/OR ANY SERVANT, AGENT OR EMPLOYEE OF THE SAME BY BIDDER’S PARTICIPATION IN THIS AUCTION.<br>
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25. DISCLAIMER OR WARRANTIES: THERE ARE NO UNDERSTANDINGS, AGREEMENTS, REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED NOT SPECIFIED HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREUNDER, INCLUDING BUT NOT LIMITED TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.<br>
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26. PURCHASES MUST BE PICKED UP AT 123 CHURCH STREET, MARTIN, TN 38237 <br>
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27. PRE REGISTER ON-LINE AT WWW.ALEXANDERAUCTIONS.COM. WHEN YOU REGISTER YOU ARE AGREEING TO THESE TERMS.<br>
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28. BIDDING: EXECUTE YOUR BIDS AT WWW.ALEXANDERAUCTIONS.COM. ALL BIDS MUST BE RAISED IN INCREMENTS. BIDS CANNOT BE RETRACTED. WHEN YOU PLACE A BID, THE BIDDER IS LEGALLY OBLIGATED TO PURCHASE THE ITEM IF THEIR BID IS THE SUCCESSFUL HIGH AMOUNT. BIDDERS MAY PLACE A “MAX BID” ON ANY ITEM, MEANING YOUR BID WILL BE AUTOMATICALLY RAISED TO THE NEXT INCREMENT WHEN NEEDED. <br>
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29. BID INCREMENTS: UP TO $50.00 - $1.00<br>
$51.00 UP TO $100.00 - $2.50<br>
$101.00 UP TO $200 - $5.00<br>
$201.00 UP TO $500 - $10.00<br>
$501.00 AND UP - $25.00<br>
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30. BUYER’S PREMIUM <br>
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a. 10% BUYER’S PREMIUM ADDED TO FINAL BID OF EACH ITEM TO REACH THE TOTAL SALES PRICE FOR ALL ITEMS PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, OR WIRE TRANSFER. <br>
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b. 13% BUYER’S PREMIUM ADDED TO THE FINAL BID OF EACH ITEM PAID FOR BY VISA AND MASTERCARD ONLY. <br>
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31. SALES TAX WILL NOT BE COLLECTED IN THIS AUCTION. <br>
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32. ALEXANDER AUCTIONS RETAINS THE RIGHT TO WITHDRAW OR REGROUP ITEMS IN THE AUCTION.<br>
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33. ALL ITEMS IN USED CONDITION AND BEING SOLD “AS IS” “WHERE IS” AND WITHOUT RECOURSE AND WITH NO WARRANTY, GUARANTY AS TO OPERATING CONDITION, PHYSICAL CONDITION FOR A PARTICULAR PURPOSE OR FITNESS FOR USE. YOU SHOULD MAKE AN INSPECTION OF THESE ITEMS BEFOREHAND AND BE SATISFIED WITH THEIR CONDITION. ARTICLES ARE NOT WARRANTED AS MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE, AND NO CLAIM MAY BE MADE BY PURCHASER RELATING TO THE CONDITION OR USE OF ARTICLES PURCHASED OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING THERE FROM. <br>
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34. ITEMS SOLD IN BOX LOTS ARE NOT GUARANTEED TO BE PREFECT. MAKE ALL BIDS KNOWING THAT ITEMS MAY BE CHIPPED, DAMAGED AND NOT IN WORKING ORDER.<br>
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35. BIDDERS WHO BID OFF-SITE OR PREVIEW UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR AND PLACE THEIR BID ACCORDINGLY.<br>
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36. THE PURCHASER DOES HEREBY ACKNOWLEDGE THAT THE SUBJECT PROPERTY IS PURCHASED AT PUBLIC AUCTION AND THAT A PREREQUISITE TO BIDDING IS THAT ALL PROPERTY, WHETHER REAL OR PERSONAL, IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.<br>
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37. PAYMENT: ALL PURCHASES MUST BE PAID FOR ON SALE DAY. YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION UNLESS ALEXANDER HAS APPROVED YOU TO SEND A CHECK, INCLUDING CASHIERS CHECK OR WIRE TRANSFER. ALL BUYERS AGREE TO PAY FOR THEIR PURCHASES NO LATER THAN THE DAY OF THE AUCTION. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, CASHIER'S BANK CHECK, CERTIFIED BANK CHECK, OR PERSONAL CHECK WITH IRREVOCABLE BANK LETTER OF GUARANTEE TO ALEXANDER AUCTIONS &amp; REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY ALEXANDER AUCTIONS &amp; REAL ESTATE SALES IN ADVANCE. <br>
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38. INDEMNIFICATION: PURCHASER SHALL DEFEND AND INDEMNIFY AND HOLD AUCTIONEER AND SELLER HARMLESS FROM AND AGAINST ALL CLAIMS AND LIABILITIES RELATING TO THE CONDITION OF, REMOVAL OF, OR USE OF THE ARTICLES PURCHASED OR FAILURE OF USER TO FOLLOW INSTRUCTIONS, WARNINGS OR RECOMMENDATIONS OF THE MANUFACTURER, OR TO COMPLY WITH FEDERAL, STATE, AND LOCAL LAWS APPLICABLE TO SUCH ARTICLES, INCLUDING OSHA REQUIREMENTS, AND ENVIRONMENTAL PROTECTION AGENCY REQUIREMENTS, OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES, COSTS OR LEGAL EXPENSES ARISING THERE FROM.<br>
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39. INDEPENDENT CONTRACTOR: THE AUCTIONEER IS ACTING AS AN INDEPENDENT CONTRACTOR ONLY AND IS NOT RESPONSIBLE FOR THE ACTS OF ITS PRINCIPALS OR SELLERS.<br>
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40. RECORDS: THE RECORD OF SALE KEPT BY ALEXANDER AUCTIONS &amp; REAL ESTATE SALES, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.<br>
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41. NOMINAL BIDS: ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE NEGATIVELY.<br>
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42. ALEXANDER AUCTIONS &amp; REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. <br>
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AUCTION – REMOVAL &amp; PICK UP TERMS<br>
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REMOVAL:<br>
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1. SHIPPING OR PACKING CAN BE PROVIDED – ITEMS CAN BE PICKED UP BY PURCHASER 123 CHURCH STREET, MARTIN, TN 38237 BY APPOINTMENT DURING THE WEEK OF AUGUST 26TH, 2014 TO AUGUST 29TH, 2014. <br>
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2. REMOVAL OF ITEMS: ITEMS MUST BE REMOVED ON FRIDAY, AUGUST 29TH, 2014, 11 A.M. TO 6 P.M., NO VARIANCE.<br>
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3. ALL SHIPPING AND MAILING COST AND INSURANCE COST IS THE RESPONSIBILITY OF THE PURCHASER.<br>
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4. BUYER SHALL BE RESPONSIBLE FOR THE LOADING AND MOVING AND TRANSPORTATION OF THEIR ITEMS. ALEXANDER AUCTIONS &amp; REAL ESTATE SALES DOES NOT FURNISH HELP TO LOAD OR MOVE ITEMS. <br>
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4. THE BUYER SHALL REMAIN RESPONSIBLE FOR EXPENSE OF REMOVAL AND DAMAGES IF THEY EMPLOY SOMEONE TO REMOVE EQUIPMENT OR ITEMS.<br>
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5. BUYER(S) SHALL BE RESPONSIBLE AND LIABLE FOR ALL OF THEIR ACTIONS AND THEIR EMPLOYEES AUCTIONS FOR DISMANTLING AND REMOVING ALL PERSONAL PROPERTY FROM THE PROPERTY.<br>
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6. BUYER(S) SHALL BE RESPONSIBLE FOR THEIR OWN LIABILITY INSURANCE AND CASUALTY INSURANCE FOR THEMSELVES AND THEIR EMPLOYEES AND AGREE TO HOLD HARMLESS ALEXANDER AUCTIONS &amp; REAL ESTATE SALES, THE OWNER, AND THE SELLER.<br>
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7. THE AUCTION COMPANY WILL NOT BE RESPONSIBLE FOR ITEMS THAT ARE NOT REMOVED WITHIN THE TIME PERIOD ALLOWED. ANY ITEM NOT REMOVED ON TIME WILL BE DEEMED ABANDONED. PURCHASER ACCEPTS FULL RESPONSIBILITY FOR ALL COSTS INCURRED BY AUCTION COMPANY FOR REMOVAL AND/OR DISPOSAL OF ABANDONED MERCHANDISE.<br>
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Alexander <br>
AUCTIONS &amp; REAL ESTATE SALES<br>
MARVIN E. ALEXANDER CAI, Auctioneer TL9, FL 107<br>
239 University Street * P O Box 129, MARTIN, TN 38237 * (731) 587-4244<br>
See Our Website: www.alexanderauctions.com<br>
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Explanation of Ways to Bid:<br>
Maximum Bid: the maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically rises to your maximum bid as others bid up the lot over time.<br>
'Jumping the Bid' is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150 when the next accepted bid is $125). This practice is used by some bidders to discourage others from bidding in hopes of acquiring an item at a lower price. This prevents someone else from bidding your max bid first. There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The auction company will not lower the price of an item that has been won by a 'jumped' bid with no other competing bids.