How does Private Event™ work?

The listing broker is in control of managing the event on Biproxi.

The listing broker will select the opening bid, bid increment and duration of the event.
The listing broker will invite selected bidders via email and all bidders will be prompted to agree to the terms and conditions of the event.
The contingencies are agreed upon and set forth prior to the event starting.
The listing broker can adjust the bid increments at any time during the event.
Any bid that is submitted with less than 2 minutes will trigger the Overtime feature. This will continue until there are no more bids submitted. This prevents auction sniping.
The chat functionality allows the listing broker and bidders to communicate right from the event page.
The listing broker has the ability to retract bidders’ invitations.
Bidders will receive real-time updates throughout the duration of the event i.e if you’ve been outbid or if bid increments have changed during the event, you will receive an email
All bidders will receive a final email once the sale has been finalized with instructions on the next steps