1. What is a Buyers Premium?
The Buyers Premium is a %10 fee applied to the purchase of an auction item which the buyer pays. This fee is common in auction industry which helps cover the overhead and fees associated with running the auction. Remember, we are not selling you the items. We are simply helping to connect buyers and seller. We accept cash
and credit cards, a 3% fee is assessed to credit cards.
2. What happens on Closing Day?
Each auction will have a set closing day and time which will be listed on the auctions main page. All auctions have a staggered (or soft) close which gives everyone a fair opportunity during closing to bid on their items and prevents last minute sniping. better opportunity to bid on items. The first few items will close at the set closing time and the rest of the item will close at various intervals after that.
3. Why was the closing time extended(soft close)?
To avoid "sniping" of an item at the last second before it closes we offer an extended close. When a bid is placed in the last few minutes of closing the closing time will be extended by 3 minutes. This will continue until no bids are placed for 3 minutes on an item giving everyone a fair opportunity to bid on an item.
Buying on Bid Kato is simple!
1. Register to Bid
2. Browse the current auctions
3. Bid on items you like
4. Watch your bids on the closing day
5. Pick up your item on Removal Day