Pre-bid

Pre-bids allow potential bidders to express their interest in a particular item and submit a bid before the auction starts. These bids are usually submitted in writing or electronically and are registered and managed by the auction house or auctioneer. A key aspect of pre-bids is that they can increase the price of a lot even before the auction begins. If several bidders submit pre-bids for the same lot, this can lead to competition and drive up the price. Pre-bids allow potential buyers to increase their chances of acquiring a desired item, even though they may not be able to be present during the actual auction.