Following the huge success of our first-ever auction back in the spring, we wanted to share some helpful tips in maximizing your bidding success in anticipation of our upcoming event this fall!
Register ahead of the Event!
First and foremost, if you plan on getting in on the action and don’t already have an account with us, you’ll want to make sure to register on our website before the auction is underway.
Before the bidding begins, it’s best to take some time to review, familiarize yourself, and ask questions about the items that are going to be available for auction. While you may have a piece of equipment or specific products on your radar already, you could also discover items that you hadn’t originally considered but could have the potential to score with major savings. Some opportunities are just too good to not try your luck at!
Please note, in order to participate in our auctions your must have a user account with Loud Lion Supply, as well as a saved payment method attached to your account. Loud Lion Supply does not store your payment methods; these are encrypted in transit (and at rest) with our online payment processor: Stripe.
You could WIN just by registering to bid on Loud Lion Supply!
Register to bid and you’ll be entered into our draw for…
Prize #1 – 2 Tickets to Grow Up Conference in Edmonton.
Prize #2 – 2 Cases of Size 1 Boveda – 1,500 Bulk packs per case
Prize #3 – 2 Cases of Size 1 Boveda – 1,500 Bulk packs per case
The window to WIN ends on September 24th at auction close, 9:00am MST
Research and Review
As we like to give our customers a chance to ponder which products they’re interested in pursuing, we’ll release our auction catalogue ahead of time and it will indicate whether the item has a reserve or not, what the opening price will be, and if it’s a new or used product. We recommend doing a bit of research on the item and reviewing the product specs to make sure it’s going to adequately suit your needs. After all, it’s important to us that you’re satisfied with your purchase, whether it be through one of our live auction events or in our online store.
Getting in Early or Sneakin’ in at the End?
If you’re planning on placing a bid early in the auction to secure your item and (hopefully) scare off the competition, it’s important to monitor your bid throughout, even if it seems like there will be little action or ongoing interest. Things can change quickly in this type of scenario, and although you may feel confident in your bid, you could miss out if you don’t keep watch for other potential buyers. In the case of competing bids, you might need to do a quick cost-benefit analysis to determine if you want to make a last-minute bid, or if it’s better to let the item go. When it comes to winning bids, there’s a balance between being patient and still being proactive. Sometimes “sniping” or making a bid in the final minutes of an event will pay off in a competitive auction, but keep in mind that others may be planning to take the same approach, so you’ll want to keep an eye on the time to ensure you can slide in your strategic bid in before the auction expires.
And the Winner is…
Once the auction has ended and if you’re the lucky bidder: congrats! You will receive an e-mail from Loud Lion Supply upon auction close letting you know you’ve won. Upon winning, you will be auto-debited 20% the total bid amount. From here, you will have 5 days to arrange an alternate form of payment with Loud Lion Supply for the remaining winning bid amount. Easy peasy.
Anything Else You’re Wondering About?
We hope that this overview has been informative and got you amped up to participate in our upcoming auction event, but if you’ve got any questions, or would like to list any items for sale yourself, reach out and we’ll be happy to help!