Open bidding puts every bid on display — current price, bid count, and time remaining. Social proof and the fear of missing out push buyers to their true maximum. The result: higher hammer prices on every lot.
In a sealed-bid auction, buyers guess. They bid conservatively because they don't know what the competition is doing. In an open bid auction, buyers know exactly where they stand — and the psychology of competition takes over.
When a bidder can see that someone else just outbid them, they respond. When they can see that 14 people are watching a lot, they pay attention. When they can see there are 3 minutes left and they're losing, they act. This is social proof combined with FOMO (Fear of Missing Out) — and it drives hammer prices significantly higher than sealed or private bidding formats.
Selling Lane's open bid format includes anti-sniping technology — when a bid is placed in the final seconds, the timer extends automatically. No one wins by gaming the clock. The best price wins.
Open competition consistently produces higher final bids than sealed formats. Buyers respond to competition by bidding closer to their true maximum.
Visible bid counts and competing bidder activity signal value to hesitant buyers. If others are bidding, the item must be worth it.
Bids placed in the final seconds automatically extend the timer. No one wins by waiting until the last second — the best price always wins.
Bid updates flow to all participants in real time on mobile, tablet, or desktop. Online and in-person bidders compete on equal footing.
Run open bid alongside proxy bidding and buy-it-now on the same auction. Offer the right format for each lot type.
Online bidders participate in open bidding alongside your in-room floor audience — via video simulcast or live-data simulcast.
Select Open Bid as the auction format for a lot or entire auction. Set your opening bid, bid increments, and end time.
Registered bidders view lot details, condition reports, and photos — then monitor the active bid on each item.
As buyers place bids, the current price, bidder count, and time remaining are visible to all participants. Competition escalates naturally.
Anti-sniping kicks in for bids placed in the final window. The auction extends until no new bids arrive — ensuring the true winner prevails.
Buyers set a max — system bids up to it automatically during open competition.
Online bidders compete in your open auction in real time.
The sealed-bid alternative for different event types.
Run open bidding with in-person and online participants together.
See the complete list of everything in Selling Lane.