What is the difference between final and temporary adjudication?

In final adjudication, the highest bid at the end of the auction automatically wins, meaning once you place the winning bid, the lot is yours without any further delays or approvals. This gives you certainty and avoids additional waiting time.

In temporary adjudication, the seller reviews the highest bid after the auction ends to decide whether to accept it. While this adds an extra step, it can sometimes allow for negotiation or the possibility that the seller might accept lower bids if other offers aren’t higher.

Q: Why isn't the minimum price (often referred to as Reserve Price) of the seller mentioned on the lot?

A: This usually not disclosed because even Auctim often doesn't know the exact amount. This also allows Auctim to negotiate with the seller at the end of the auction if the highest bid is close to the reserve price. Auctim's goal is to facilitate as many sales as possible, so we always strive to reach an agreement that works for both the seller and the buyer.

In some cases, the adjudication of a lot will automatically switch from temporary to final, if the reserve price is known and has been reached. This will automatically update on the lot page.

Q: When will I be notified if I'm the highest bidder on a temporary adjudication lot when the auction closes?
A: If you're the highest bidder on a temporary adjudication lot, you'll be notified after the seller reviews the bid and makes a decision. Auctim and its partners will always try to negotiate on your behalve to finalise the sale. This process may take some time, but you'll receive an update as soon as the seller either accepts or rejects your offer. Keep an eye on your email or your Auctim account for the final decision. This process can take up to 48 hours.