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 Buyer's Guide 
 

Auction Participation Guide and FAQ's
Welcome to KT Magic Auction!

We have a standard auction format with no proxy bidding which means the bid you enter is what will automatically show and be taken as what you are going to pay if you win the item. The system also allows for you to increase your bid amount if this is a bidding method you wish to use. This process is also helpful in reaching a reserve amount. Shipping/Insurance charges are in addition to winning bid amounts. What you will not have at the end of the auction is the addition of Buyer's Premiums that can range from 15% to 25% and more. Enjoy the Auction!

Register before you are able to bid on any items you must submit your information for Registration approval.  Upon approval you will be notified of your validation so please register early.  You will need to select a user name that you can remember and complete the rest of the form.  A password will be emailed to you.  You may change your password if so desired by choosing the Member Services option and then clicking the Change Your Password link.  If you elect, you may change your user information at Member Services, and then selecting Edit My Registration link.  Register or make any changes once you are registered access Member Services located on the toolbar on all auction pages or by clicking here for Member Services. Please be advised there are No Buyer's Premiums.

 

Bidding once your account has been activated you will be able to bid.  Simply navigate to the auction you want to bid on via the category listings or using the search features and then place your bid. Note the type of auction that you are bidding on.  Standard, Multiple Item and Blind auctions all work differently. Auctions operate on Eastern Standard Time (EST). 

 

How am I able to see all listings without going into each Category? once you are viewing any auction listing you will be able to navigate to the blue button Other Listings and click to view all listings under all categories or by clicking here for All Auction Listings.

 

How am I able to search for Auction Items with more detail, by Lot Number and Closed Auctions? You will find Search on the Member Service page below the heading of Your Account or by clicking here.

 

How the bidding process works for a Standard Auction: when placing a bid you are well advised to enter the most you are willing to pay. The auction is set up so that you have a chance to come back with another bid if you are outbid within the last few minutes before close as it extends an additional 10 minutes so that if you truly want an item beyond what you initially thought you would pay you will still have a chance. If reserve price is not met the auction is considered unsuccessful and there is no obligation to sell the item.

 

How the bidding process works for a Multiple Item Auction: also known as a Dutch auction, is where KT Magic Auction has two or more items that are exactly the same and is willing to break them up to sell to individual bidders. In a Multiple Item auction, there is also a difference as to how winning bids are determined and broken down. There can be multiple winning bidders in a Multiple Item auction. The winning bidders are determined by who has bid the highest, earliest and for what quantity of items. However, all winning bidders will pay the same winning bid amount, which is determined by the lowest successfully winning bid. Multiple Item auctions cannot have a Reserve price in effect and they do not permit Proxy bidding. Bidders placing bids on Multiple Item auctions can bid on as few as one item or as many as the total number of items in the auction.

For example, a Multiple Item auction has been placed with 10 items for sale. The opening price for the items is $1.00 each. After the auction opens, 20 people place equal bids for the items at $1.00 each. If the auction were to close at this point, only the first 10 people to bid would be declared winning bidders. Earlier bids take precedence over later bids of an equal amount (and in this case, quantity). However, before the auction closes, a new bidder places a bid of $3.00 for one of the items. Because this person has placed the highest bid, if the auction were to close now, he or she will win one of the 10 auction items. The first 9 bidders who bid at $1.00 win the remaining 9 items. However, because all bids will be accepted at the lowest winning bid, the person who bid $3.00 will only be required to pay $1.00 for the item. By bidding over opening price, new bidders can essentially knock the earlier low bidders out of the running which helps guarantee them a higher placing.

 

How the bidding process works for a Blind Auction: also known as a Silent auction. This works very similar to a Standard auction where the highest bidder wins the auction. However, in a Blind auction, the bidding process is not interactive and the bidders will only receive information on their bid ranking when the auction closes. A Blind auction also differs from a Standard auction in that it does not offer a Reserve price and does not utilize any Proxy bidding.

Current Price Bid Increment
$ .01 - $ 24.99 $ 1.00
$ 25.00 - $ 99.99 $ 2.50
$ 100.00 - $ 249.99 $ 5.00
$ 250.00 - $ 499.99 $ 10.00
$ 500.00 - $ 999.99 $ 25.00
$ 1000.00 - $ 2499.99 $ 50.00
$ 2500.00 - $ 4999.99 $ 100.00
$ 5000.00 - $ 9999.99 $150.00
$ 10000.00 and Up $250.00

 

After The Auction, upon auction close you will be sent an email notifying you of your success as a winning bidder. After all auctions have ended and once items have been packed and weighed for shipping/handling/insurance cost and added to your invoice you will be sent an email invoice with further details. Shipping is extra and in addition to winning bid amounts in all cases. KT Magic Auction reserves the right to ship by means best suited for item(s); charging adequately for proper handling/packing/shipping and insurance cost. All items are well packed and insured for winning bid amount. International shipments are not required to insure but our responsibility ends once item(s) has shipped. The minimum charge for any shipment is $5.00. Payment is due upon auction close unless other arrangements have been made prior to bidding.

 

Auction Watch is a function that enables you to put items on a "Watch List". This makes it easy to keep track of the items you are interested in. While auctions are running you will receive updates if item(s) are listed that you are looking for. Access from Member Services located on the toolbar on all auction pages or by clicking here for Auction Watch.

 

Memorized Auctions are listings that you mark so that you may keep track more easily of items that are currently being auctioned. This is done from each auction listing. You may access from Member Services located on the toolbar on all auction pages or by clicking here for Memorized Auctions.

 

My Auctions Bidding is a listing of auctions you are currently bidding on. Access from Member Services located on the toolbar on all auction pages or by clicking here for auctions you are bidding on.

 

My Auctions Won is a listing of auctions you have been successful in winning. Access from Member Services located on the toolbar on all auction pages or by clicking here for your winning bids.

 

View Your Invoice may be accessed at any time for a comprehensive accounting of your activity. Access from Member Services located on the toolbar on all auction pages or by clicking here to view your Invoice.

 

Contact Us if you have items you think we might be interested in please contact us for more information. From a drawer full to a museum full we handle it all. Access from Member Services located on the toolbar on all auction pages or info@ktmagic.com

User Agreement: All items are sold as is. Bidders must be at least 18 years of age to participate. If you have any questions please ask before making a bid and we will try our best to answer, we want you to be as informed as possible. Payment is due upon auction close unless other arrangements have been made prior to bidding. We reserve the right to withdraw an item or cancel a bid or relist item if there is a problem with servers, etc. In the event of an emergency or unforseen event auctions may be extended. Non-payment of winning bids will result in termination of bidding privileges. We accept payments via Visa, Mastercard, Discover, American Express, Paypal, Money Order and Check. Checks are accepted but will delay shipment of your item. KT Magic Auction reserves the right to ship by means best suited for item(s); charging adequately for proper handling/packing/shipping and insurance cost. All items are well packed and insured for winning bid amount. International shipments are not required to insure but our responsibility ends once item has shipped. Your bid is a contract - Only place a bid if you are serious and willing to purchase the item for the amount of your bid. If you are the winning bidder, your are entered into a legally binding contract to purchase the item. It is in our best interest for this to be an enjoyable pursuit for all involved and we will do everything in our means to accomplish this desired result. Happy Bidding!

 

Transmitted: 9/21/2017 4:28:34 AM
Brought to you by KT Magic, Inc.
 
KT Magic, Inc. - Kenna Thompson Magic
PO Box 55, Milford, OH. 45150 USA
Phone 859-689-7080
kt@ktmagic.com | Auction Questions auction@ktmagic.com

1990 - 2017 Kenna Thompson Magic/KT Magic, Inc. Images and descriptions of items are copyrighted and may not be used for any purpose without specific written consent of KT Magic, Inc.