Every auction goes live with an informational listing, photo gallery, and additional seller features that help ensure a great result.
Each auction has a comment thread where the LO
community discusses the offer and asks the seller questions.
Sellers are encouraged to be active participants in the
comments section—answering questions and engaging with
the community increases bidder confidence
Potential bidders can use the Message Seller button to ask
the seller questions or schedule a visit.
Each seller has the ability to lower their reserve while the
auction is live
All bids are verified by a credit card hold to ensure
commitment of potential buyers. When a bid is placed, we
place a hold on the credit card on file for 3% of the bid
amount. When the auction closes, the hold is released for all
bidders who didn’t win the Auction. The Buyer pays a 3% fee
on top of the final sale price to LO.
We do not cancel bids on the site. Please be very
careful when placing your bid.
Sniping protection extends the auction clock by two minutes
each time a bid is placed in the auction’s final moments. The
auction isn’t over until two full minutes have elapsed since
the highest bid was placed
We encourage all potential bidders to read the listing and
review the entirety of the comment section before placing a
bid. It is important that bidders do their due diligence to
understand all the details of the offer and insights offered by
members of the LO community. Also familiarize yourself with
The Post-Auction Process
If the auction reserve is met when the listing ends (or the
auction is no reserve), LO provides the seller and winning
bidder with each others’ contact information
The buyer and seller then work together to complete the
transaction. LO is happy to provide assistance or answer
questions during this part of the process.
If the auction reserve is not met when the listing ends, LO
will provide the high bidder’s contact information to the
seller in hopes that they can work out a deal.