Bidding in a Dutch auction

• This auction has fixed price period, followed by a falling price period, which continues until both batteries are either sold or withdrawn by vendor. 

• The battery is offered to bidders on a first-come, first-served basis. 

• Bidders should place their bid at the time when the price is at their willingness to pay.

• As there are two batteries available, the two first bidders will 'win' the auction. The price at the time of the second (lower) bid will be offered to both the first and second bidder.

• Bidders can also 'pre-bid' i.e. make an offer at a future price. Should the price fall to the nominated offer price, the offer is automatically converted into a valid bid, at the offer price. 

The 'price drop': 

• Prices are fixed at $335k for the initial 2 weeks of the campaign.  

• Commencing 9am, 14th July, the price will drop $625/hour ($5000 per workday) until both batteries receive bids. 

• The 'price drop' is only active during business hours (9am to 5pm, Monday to Friday), however bids may be made at any time during whilst the auction is Live. ​

Other important details

• A bidder can place two bids should they wish to reserve both batteries.

• A bid is deemed to be a firm and binding reservation. A bid is subject to final confirmation by buyer and vendor upon the signing of purchase contract.

• Upon receiving the second bid, the auction will be placed on hold until contracts are settled. The auction may be restarted should the buyer not commit to signing purchase contract within a sufficiently reasonable time period. 

• The vendor (our client), reserves the right to accept or reject any bid, or negotiate directly with bidders on final price.

Auction Terms & conditions

• Battery Auction T&C's - last updated July 13