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RULES OF AUCTION AND AGREEMENT OF SALE PLACE OF AUCTION: DATE OF AUCTION: TIME OF AUCTION: Apartment 601, Peninsula 16 Beach Road 24 March 2015 11:00 am Industry Lovebird S. A (Pty) Ltd Registration
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How to fill out time of auction

How to fill out time of auction:
01
Determine the duration: Decide on the length of time the auction will run. This could be a few hours, a day, or even several days. Consider factors such as the popularity of the item and the target audience when deciding the duration.
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Set a start and end time: Clearly specify the start and end times of the auction. Ensure that these times are communicated accurately to potential bidders to avoid confusion.
03
Choose a time zone: If the auction is being conducted online or has participants from different regions, it is essential to specify the time zone in which the auction will be based. This helps participants to adjust their schedules accordingly.
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Prepare a countdown: If the auction is being conducted online, create a countdown timer that highlights the remaining time until the auction ends. This creates a sense of urgency and encourages bidders to act promptly.
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Adjust time increments: For live auctions, consider setting specific time increments for bidding. This helps to manage the pace of the auction and allows participants to make informed decisions within the allocated time frame.
Who needs time of auction?
01
Auction organizers: The organizers need to establish a clear and efficient timeline to ensure the smooth running of the auction. They need to allocate sufficient time for item previews, bidder registration, and the auction itself.
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Bidders: Bidders require the time of the auction to plan and allocate time for participating. They need to know when the auction starts and ends so that they can organize their schedules accordingly.
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Item owners: Those who are putting items up for auction need the time of the auction to know when the bidding will end. They need to be available during this time to manage bids and finalize the transaction with the highest bidder.
In summary, filling out the time of auction involves determining the duration, setting start and end times, choosing a time zone, preparing a countdown, and adjusting time increments. The time of auction is needed by auction organizers, bidders, and item owners to effectively plan and participate in the auction.
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