Opening value (valor de abertura)
Updated on
The valor de abertura is the lowest amount the e-Leilões platform accepts as a bid, and it equals 50% of the property’s base value.
On e-Leilões, each auction shows three figures: the , the (85% of the base value) and the valor de abertura (50% of the base value). The platform rules define it as the value set for opening the auction.
The platform blocks bids below the opening value. Between the opening value and the minimum value, the system accepts the bid but treats it as a 'conditional bid': it is recorded and does not lead straight to the .
According to the e-Leilões FAQ, the asset can only be awarded if the bid is equal to or higher than 85% of the base value.
Example
Illustrative example: a warehouse has a base value of €80,000. The opening value is €40,000 and the minimum value is €68,000. A bid of €45,000 is conditional. A bid of €68,000 can already lead to a purchase if nobody offers more.
In practice, at an auction
A low opening value on a listing does not mean the property will sell at that price. A conditional bid may be used later, in the proceedings, as an offer in a , but that decision belongs to the proceedings, not to the platform.
Each new bid must exceed the highest one by at least 1%, or by €10 if 1% is less than that. Bids cannot be withdrawn. The term is specific to e-Leilões: Tax Authority sales have no opening value.