Question about auction procedures

I bid on my first auction (gulp). I have a high enough Linden balance to cover the cost. But I don't have the tier, at present. If I win the auction, am I given an opportunity to pull tier from elsewhere, rent it, etc, before completing the transaction (and being bumped up to LL's next tier?) If I can buy the land for group, I am fine with tier. But if they expect me to buy it as an individual, that is where I run short.

How does the process work, after you have won? (wishful thinking, here). And I have a verified credit card on file, so if I want to bid higher than my current Linden balance, can I? Or do I have to have the money first?

Any and all advice is welcome, since I've never done this before. Bought and sold land as an individual and as a group before, but never had any auction transactions.

Thanks,
Princess Ivory

From what I have heard reported here, when/if you win, they will automatically bump your tier to whatever it needs to be to hold the new land; there is no opportunity any more to move things around or buy for group or whatever.

And I am pretty sure the system will not let you bid unless you already have the L$ in your account.

Sorry, probably not the news you were looking for. Unless they've changed things again recently though, I am pretty sure this is how it works.

-Atashi

Well, that's pretty crappy about the tier. I don't want to own it alone; I want my group to own it. With the 10% bonus group land gets, I'm fine. But if I have to pull out enough tier to cover it all for an individual to buy, I would short my group.

So I would get bumped up in tier to buy the land, turn around and deed it to my group, but still have to pay the higher tier amount for the month, even though I only held it about 10 minutes as an individual.

Anyone able to confirm if this is the case now?

Your tier does not bump when you win. It bumps up when you go inworld and buy the land (it will be set to you for $L0). You have seven days to make the purchase. If you want to wait longer, consider renting tier from the Land Ninjas.

And you don't need to have the full amount in your balance. They will charge your credit card for the difference.

Thanks, Raymond. I suppose I can't buy for group, though. They just set it for sale to me as an individual, right?

Ninjas are paying me right now. The tables may turn, and I'll have to pay them!

Another question: when I initially bid, I put the highest amount I wanted to bid. I know that time of bid can take priority in some situations. So, if I go in now, and raise the ceiling on my bid, do I still have the advantage of the early bid, or does it reset my bid time to the time of the increase on my bid? Does that make sense? And under what circumstances does time of bid actually matter?

Thanks,
Princess Ivory

That may be true for full sim and/or $US auctions. But for smaller plots in the $L auctions the plot is automatically transfered to the auction winner a short while after the auction closes. At least that is the way the process worked when i purchased auction plots a couple of months ago.

Yikes. Sorry, Princess. I never bid on anything smaller than a full sim at auction. I assumed the rules would be the same.

As far as I know, you can raise the ceiling of your bid anytime. The priority is by higher price as long as the auction is still open. But now I'm afraid to give any answers since I blew my first one.

It still works that way. I purchased a parcel on auction yesterday and about 15 minutes after the auction ended the lindens were removed from my account and the pacel was changed to my name.

I'm not sure if you can raise your bid after it is placed until you are outcid or not. I have not tried it, but the timestamp is only important if someone else bids exactly the same amount you did. Tie bids are awarded based on the age of the bid, with the oldedt bid being the winner. I suspect that ties are pretty rare since if someone sees that they tied with you they just need to add 10L to break that tie.

So you did not have to buy it inworld and it counted against your tier right away?

Correct.

If you are bidding on a L$ priced auction, you do need to have enough L$ in your account to cover your bid. Not sure about US$ auctions.