Timed Online Auctions
Timed online auctions run for 7 days. They usually start at 9 a.m. PT (12 p.m. ET) and end the following week at 6 p.m. PT (9 p.m. ET). Government land for sale in timed auctions on our site has a reserve price set for each parcel of land up for auction. A reserve price is the minimum dollar amount for which a parcel of land can be sold. If the reserve price is met, the highest bidder will be declared the winner.
Timed online land auctions work the same way as eBay® auctions. You can place your bid online and set a maximum price you are willing to pay for a parcel of government land at the close of auction on our site. For example, you preview a lot in Colorado Springs, Colorado. You place a bid of $100, but the maximum price you set was $750 for this lot. Someone bids against you and places a bid for $500. Your bid automatically increases to $550 (bid increments are set at $50). When the auction closes, you were the highest bidder, and you win the lot for $550. This is great for you because you set your own budget and price, and you didn’t even have to pay the maximum amount you were willing to spend. You will receive an email notification that you were the winning bidder.
The advantage of online timed auctions is that you can participate in the auction any time during the week-long event. Unlike a live auction, you do not have to “show up” online at a specified time to attend a timed auction or submit an absentee bid.