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The 3 Minute Auction and Minute Auction Explained


Am I the only person who doesn't know what a 3 minute auction is? Looking for fresh content for my site, I discover that "minute auction," or even a 5, 10 and 30 minute auction is a popular item. Some auction sites may refer to a minute auction as a "Live Bid." The "minute auction" or "3 minute auction" actually comes the closest to duplicating the excitement (and anxiety) of a real auction. No, it is not the same as an eBay minute auction.

I will give the example of Bidz.com. Bidz.com uses Flash technology to constantly update in real-time auction bids right before your very eyes! The price goes up, up, up and the time clicks away ... down, down, down!. Add flashing green highlights for added new bids and red flashing for the ominous approaching 0 minute and to say the least, it is quite thrilling.

On the Bidz home page, there is a link that says 3-minute auctions. This is a separate category all by itself. If you click that link you are taken to the 3 minute auctions, usually consisting of jewelry. (Note: See end of article for "The 3 minute auction - too good to be true?")

A word of caution: It takes a little finesse to bid at these fast-paced auctions - and I mean FAST! You must be EXTREMELY CAREFUL when bidding. The highest bid I came across on my visit was for $1500. My advice would be to practice on the dollar starting bids. Bids quickly escalate to $15 and $30. In the words of BidZ:

"If you are bidding on items in the 3 Minute Auctions category, you will not be notified if you are outbid. These auctions move very quickly, so you have to monitor your winning bids very carefully."

Back on the 3 minute auction page of BidZ, what do you see? >From left to right: the product picture, the item number, title, price, bids, and time left. The "bids" and the "time left" are where the auction action is at. But just as its nearing 0 minutes left, it jumps up to more time left - what gives? According to Bidz.com:

"If the bid is placed during the last minute of an auction, the auction will be automatically extended for an additional 1 minute from the time of the latest bid. The auction will close once all bidding has stopped for a period of 1 minute."

OK - I decide I am going to get in on this action. Registering is free (username must be a combo of numbers and letters). I have to click on the picture to go to the listing to actually bid according to Bidz.com directions below:

1) Simply use the "plus" and "minus" graphic keys to select the amount you would like to bid. The amount of the next bid is automatically one dollar more than the current bid. If you only want to place a one dollar bid, you can just click the Bid button without any adjustments.

2) Click the bid graphic button to register your bid. PROBLEM: I click the Bid! button and then find out I have to register my credit card in order to bid - but they didn't tell me that when I was registering (even though I quite expected it).

Another problem I encounter is a sluggish modem. By the time I reach the listing page and the picture and bid button loads, the auction can be over (sigh...).

Its not hard to become giddy over the amazing deals of a 3 minute auction...too good to be true? 3 minute auctions "typically offer expensive items, such as Cartier watches, Beanie Babies, computers, and cars at prices that are low enough to dull the scam alarm in most people."

This was taken from an auction fraud article. The same article reports that the Federal Trade Commission has identified a scam email that includes "Live 3 minute auctions" in the subject line. See the details of the 3 minute auction scam at www.chiff.com/a/fSCAMauc.htm

For a list of minute-auction websites, refer to: The 3 minute auction list http://shmyl.com/dpzison

My final words: The 3 minute auction and minute auction are the epitome of auction entertainment. So pop some popcorn, invite some friends over, and have yourself some Friday night auction fun!

About The Author

Renee Matt maintains AuctionTongue.com, a review site of auction tool, free auction templates, auction software, auction sniper and image hosting services. AT focuses on auction websites outside of eBay. Sign up for their FREE Auction Freebies newsletter: http://www.auctiontongue.com/; [email protected]


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Thu. June / 30 / 2022

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The HSNY 2022 Online Charity Auction - HODINKEE
The HSNY 2022 Online Charity Auction  HODINKEE

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Own your own campground: Former Boy Scout camp goes up for auction in Indiana  FOX 59 Indianapolis

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PUBLIC AUCTION These vehicles will be sold at Public Auctions - Rockdale Newton Citizen
PUBLIC AUCTION These vehicles will be sold at Public Auctions  Rockdale Newton Citizen

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How GuysWithRides Founder Rudy Samsel Wants To Bring Online Auctions Back To Reality  HotCars

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Banking on the Monets: Christie's London to Paris relay auctions bring in a solid £203.9m  Art Newspaper

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Pokémon TCG: 1st Ed Dark Charizard Up For Auction At Heritage  Bleeding Cool News

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Auction Calendar: July 1, 2022  Wisconsin State Farmer

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Midyear Outlook And Treasury Auctions (Radio) - Bloomberg
Midyear Outlook And Treasury Auctions (Radio)  Bloomberg

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Tiffany lamp sells for $541,000 at Lancaster County auction  WGAL Susquehanna Valley Pa.

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HiBid.com Auctions Include Classic Cars, Collectible Sports Cards and Estate Items; Over $47M Sold in Last Week's Auctions  PR Newswire

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LeBron James Triple Logoman Card Auctions for Record $2.4M Price  Bleacher Report

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Society Notebook: Boys & Girls Clubs benefit from auctions at brewery  Press Herald

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Supreme Auctions Sells Rare North Dallas Modern Farmhouse in Pilot Point, Texas  EIN News

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GSA Auctions Another Series of Crypto, Valued at $268K  Nextgov

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RESULT OF RIKSBANK REVERSED AUCTIONS KOMMUNINVEST BONDS  GlobeNewswire

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Propstore auctions rare screen-used 'Red Leader' X-wing model from 'Star Wars: A New Hope' (exclusive)  Space.com

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Vedanta, 30 other companies submit bids in commercial coal mines auctions  Business Standard

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A rare 1930 Oscar statuette is up for auction  The Gold Knight

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Orange County auction of surplus equipment offers tons of useful items  WESH 2 Orlando

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Buying a Home at Auction? These Tips Will Help You Prepare Yourself.  Think Realty

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San Diego Comic-Con 2022 Badge Auctions to Benefit Museum  sdccblog.com

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Online surplus item auction now live, Alabama agency says  AL.com

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The District Attorney's Office auctions off jewelry, expensive luxury items seized as evidence during a criminal investigation.  County of San Luis Obispo

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eBay Live is the online auction site's new livestream sales platform  The Verge

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Heritage Hong Kong Platinum Auction Open for Bidding  CoinWeek

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Auction Calendar: June 3, 2022  Wisconsin State Farmer

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Penn State Extension expands resources for growers at produce auctions  Pennsylvania State University

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SEC Weighs Sending Retail Stock Orders to Auctions for Execution  Bloomberg

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Igneo drops out of Loscam ANZ auction  The Australian Financial Review

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Receiver asks for court approval to auction assets of Annie’s Campground  WSAW

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First live auction of wetland credits in South Dakota to be held Friday in Wentworth  Drgnews

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Denny's Storage Company Auction - Treasure ( Sort Of ) Awaits You  Hot 975

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Sammy Petrowsky Returns With 'Homecoming Auction' : CEG  Construction Equipment Guide

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Downtown Baltimore office tower sells back to lender in foreclosure auction for $4.1M  The Business Journals

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NC’s highest auction award returns to Boonville  Yadkin Ripple

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VHS tape of ‘Back to the Future’ fetches $75,000 at auction  The Dallas Morning News

Upstart platforms, peer-to-peer sites squeeze auctions - Automotive News
Upstart platforms, peer-to-peer sites squeeze auctions  Automotive News

Frank Macher's Charlevoix home sold at auction for $9.8 million - Crain's Detroit Business
Frank Macher's Charlevoix home sold at auction for $9.8 million  Crain's Detroit Business

Environmental Groups Sue to Block Biden Administration Oil and Gas Auctions - Latest Tweet by Reuters - LatestLY
Environmental Groups Sue to Block Biden Administration Oil and Gas Auctions - Latest Tweet by Reuters  LatestLY

Russian Journalist to Auction Nobel Medal to Benefit Ukraine - The New York Times
Russian Journalist to Auction Nobel Medal to Benefit Ukraine  The New York Times

Commonwealth's Online Heavy Equipment Auction to Feature More Than 280 Items for Sale to the Public Starting June 20 - Pennsylvania Pressroom
Commonwealth's Online Heavy Equipment Auction to Feature More Than 280 Items for Sale to the Public Starting June 20  Pennsylvania Pressroom

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New York Watch Auctions Summer 2022 Top Lots  HODINKEE

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Bond Market Defensiveness Justified by Weak Auction  Mortgage News Daily

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Nebraska Public Service Commission will conduct reverse auction to expand broadband  Hastings Tribune

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Captain Marvel Kills All the Villains in Whiz Comics #7, at Auction  Bleeding Cool News

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Central Oregon ranchers, livestock auctions, face headwinds even as price for meat rises  The Bulletin

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Affandi and Other Indonesian Masters at MASTERPIECE Online Auction  Ocula Magazine

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2004 Volkswagen R32 Is Our Bring a Trailer Auction Pick of the Day  Car and Driver

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Former Transamerica site sold in auction  Corridor Business

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Impressive 1995 Ford E-350 4X4 Motorhome Up For Auction  Ford Authority

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Concierge Auctions is now Sotheby's Concierge Auctions—Rebrand Announced Following Acquisition by Sotheby's and Realogy  EIN News

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Paul McCartney's 1988 Gibson Les Paul Custom is up for auction  Guitar.com

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Mansion Global Daily: Perks to Selling Through Auctions; a Grand English Country House and More  Mansion Global

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Saudi giga project NEOM to start renewable auctions next year  ZAWYA

STORAGE AUCTIONS - Columbia Star
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HK Keller Auctions Announce Your Chance to Bid on Rare Autograph Collection  PR Newswire

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Silver Dollar City auctions Celebration City items  KOLR - OzarksFirst.com

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Modern Times Auction Scheduled for June 17, Sale Hearing Set for June 20  Brewbound.com

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What does New York's abrupt winding back of auction house regulations mean for the art market?  Art Newspaper

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Two bidders seek discount price to buy Kohl's: report  New York Post

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Luxury vehicles seized by DA going up for auction in Orange  The Recorder

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