Understanding Auction Types on Snoofa
At Snoofa, we offer three types of auctions: live, timed online, and sealed bid. Each format has been designed to accommodate different buying styles and preferences. Whether you love the buzz of live bidding or prefer to bid in your own time at home, here is how each format works so you can feel confident participating in our auctions.
No matter which format you choose, Snoofa’s platform is built to make the process smooth, fair, and enjoyable.
Happy Bidding!
Live Auctions
Live auctions are ‘show time!’ Auctions are conducted by an auctioneer with bidders physically present, on telephones or placing bids online in real-time via live streaming.
This format is great if you love the thrill of the moment and want to react as the bidding unfolds. With adrenaline and dopamine surges it can be a real thrill. We have witnessed people literally jumping for joy when they have won a Lot.
- Best for: fast-paced bidding and real-time competition.
- Tip: be ready when the auction starts – auctioneers like a fast pace.
Timed Online Auctions
Timed auctions run over several days, so there is no pressure to join at a set time. You can browse Lots, place your bids, and even increase them later if needed. If someone places a bid near the end, Snoofa’s auto-extend timer triggers so all bidders get a fair chance to win.
Timed online auctions are perfect if you prefer a bit more time to consider your bids from the comfort of your own home.
- Best for: flexibility and convenience.
- Tip: do not place bids in the last few seconds – you will probably lose.
Sealed Bid Auctions
In a sealed bid auction, you submit your highest bid without seeing what other bidders have offered. Once the deadline passes, the highest bid wins. Simple. You may have heard of the phrase – best and final offer.
This format is ideal if you prefer a more discreet, no-fuss approach.
- Best for: private and straightforward bidding.
- Tip: you only get shot – think carefully about your maximum bid.