Sealed bidding runs as anonymous sessions in the LuxPik app. No one sees anyone else's bid, which prevents runaway bidding. When the session closes the highest bid wins, but the price paid is the second-highest bid plus one minimum increment — or, where there is only one bid, the reserve plus one increment. Bidding is free for buyers.
You cannot see anyone else's bid at any point.
When the session closes, the system identifies the highest bidder automatically.
With a second-highest bid, the price is that bid plus one minimum increment; with only one bid, it is the reserve plus one increment. The reserve is the seller's lowest acceptable price, and the minimum increment is set by the platform.
| Session | Viewing | Bidding |
|---|---|---|
| First | 11:00 – 11:30 | 11:30 – 17:00 |
| Second | 18:00 – 18:30 | 18:30 – 10:30 next day |
Bids are typed in and can be revised, but only the latest one stands. Bids placed after 17:00 do not count towards the ranking.
A winning bidder has four hours to place and pay for the order. After that the system closes the order and the deposit is forfeited.
If a fault does not match the record, a won lot can be returned within 24 hours.
| Reserve band (CNY) | Increment (CNY) |
|---|---|
| X < 1,000 | 50 |
| 1,000 ≤ X < 5,000 | 100 |
| 5,000 ≤ X < 20,000 | 150 |
| 20,000 ≤ X < 50,000 | 200 |
| 50,000 ≤ X < 100,000 | 500 |
| 100,000 ≤ X < 500,000 | 1,000 |
| X ≥ 500,000 | 2,000 |
| Case | Bids | Price paid | Winner |
|---|---|---|---|
| Both above reserve | A 1,500 / B 1,300 | 1,350 (1,300 + 50) | A |
| Only one bid | A 1,200 | 1,050 (1,000 + 50) | A |
| Both below reserve | A 900 / B 850 | Unsold | — |
| Identical bids | A 1,300 / B 1,300 | 1,300 | Whoever bid first |
Complete identity and shop verification in the LuxPik app and you can bid.