A sports lover?s dream come true! You are privy to a 1 on 1 private breakfast with Palace Sports and Entertainment Vice Chairman Arn Tellem.
As one of the most accomplished and respected sports executives in the world, Arn Tellem is a super star among sports agents. Referred to as ?a sports king maker?, since 2008 he has negotiated more than $3.5 billion in deals for his clients. A major force behind moving the Pistons from the Palace of Auburn Hills to Detroit?s new Little Caesars Arena, Arn has stamped his legacy by bringing the last of Detroit?s sports teams downtown.
Item Special Note
Special Notes: Breakfast to be scheduled on a mutually determined date, in Birmingham, Michigan, at a restaurant to be determined by Mr. Tellem.
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Proxy Bid
Proxy bidding places bids on your behalf at the lowest possible increments. Simply enter your maximum bid (the highest amount you are willing to pay).
The goal of proxy bidding is for you to win the auction at the lowest possible price. Your maximum bid is only placed when another bidder also bids up to that amount or when the reserve price is equal to or greater than your maximum bid.
Bids will increase based on the bid increment set for the auction. Therefore, the current bid will equal the former bid plus the bid increment.
Example
An item’s current bid is $3.00, and the bid increment is $0.10. Jane chooses automatic bidding and enters a maximum bid of $6.00, so Jane becomes the high bidder and the current bid reads $3.10.
Straight Bid
Enter an amount higher than the current winning bid (displayed on the auction page as "Leading Bid"), and click on the "Bid this exact amount" radio button below the bid you just entered. Then click the "Place Bid" button. The system will immediately place your bid at the exact amount you entered.
Example
If the current high bid is $1.00, and you entered a straight bid of $15.00, you’re now the current high bidder at $15.00.
Reserve Price
The Reserve is the minimum amount the organization is willing to sell the item. If the reserve isn't met by the end of the auction, then this item will not be sold.
Bid Extension
The auction closing time on an item will be extended by 5 minutes each time a new bid is placed during the last 5 minutes of an auction. The item's closing time will continue to extend in 5 minute increments as long as there is continued bidding. The item will automatically close when there is a 5 minute extension period with no new bids.
Live Event Items
Further bidding will take place for this item during a live auction after online bidding is closed.
Absentee Bids
You can win items at the live event even if you can’t attend! When you are the leader at the close of online bidding and your Maximum Bid has not been met, your Maximum Bid will be used as an Absentee Bid in the live event. The organization running the auction will bid on your behalf up to your Absentee Bid (Maximum Bid).
