Here is an explanation of the types of bidding and bidding settings that you will encounter on this website.
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Proxy Bids
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This web site uses proxy bidding as the default for all bids placed.
By placing a proxy bid you are specifying the maximum amount you are
prepared to pay for an item. The auction software automatically bids
on your behalf at $1 increments until your maximum proxy amount is
reached. When another bidder's bid exceeds your bid, we will advise
you with an e-mail so that you may submit a new bid.
Example:
The current auction bid is $5 (and the website bid increment default is $1). You place a
proxy bid of $10.
a) If nobody else bids on the auction, you would be the successful
winning bidder at $6 when the auction ends.
b) If someone bids $7, your bid would be automatically increased to $8.
c) If someone bids $11, you will have been outbid and an email notice would
be sent to you so that you may re-bid.
How to cancel a proxy bid
As long as you are the current high bidder, bids can be removed
from active auctions by following the steps below. Bids placed on Slide SuperStore listings and auctions
that have closed cannot be cancelled.
1) log into My Account
2) Click on the "View your bidding history" link
3) Limit results to "active auctions" on the bidding results page
4) Click the "Cancel this bid" button beside desired auction(s)
How to increase a proxy bid without bidding against yourself
As long you are the current high bidder, simply cancel your existing proxy bid by following the steps
above, and then you can place a new (higher) proxy bid on the same auction.
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Regular Bids
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The amount that you place into
this field will be the amount of the bid that you are making. If you place a regular bid of
$10 on a normal auction and the next lowest bid under your bid is $5, you would end up
paying the seller $10. Whereas under proxy bidding, you would pay $6 to the seller (provided the bid
increment was $1 as per the example above.)
The nescessity of having to continually update your bid is a drawback to this
type of a bid in a normal auction. In Dutch Auctions, all bids placed are regular bids.
How to cancel a regular bid
As long as you are the current high bidder, bids can be removed
from active auctions by following the steps below. Bids placed on Slide SuperStore listings and auctions
that have closed cannot be cancelled.
1) log into My Account
2) Click on the "View your bidding history" link
3) Limit results to "active auctions" on the bidding results page
4) Click the "Cancel this bid" button beside desired auction(s)
How to increase a regular bid without bidding against yourself
As long you are the current high bidder, simply cancel your existing bid by following the steps
above, and then you can place a new (higher) regular bid on the same auction.
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Dynamic Bid Times
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Dynamic Bid Time can be set by the seller when posting his or her auction.
Dynamic Bidding allows for bidding to continue beyond the normal end of the
auction if certain events occur.
When you set a value for Dynamic Bid Time this sets a watch for bids on the
auction from that many minutes before the end of the auction. If anyone places
a bid during the Dynamic Bid window, which is measured in minutes, then the end
of the auction will be extended by the length of time of the Dymnamic Bid setting.
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Reserve Bid
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When a seller sets a Reserve Bid amount, they are stating that this value, which is
not disclosed to the bidders, is the minimum they will sell the slide for.
This allows sellers to set a minimum amount that they will sell their slides for.
Sellers should be aware that setting a Reserve Bid too high comes with the risk that the slide may not
sell, as bidder interest can be extinguished with high reserves.
For example, an opening bid amount of $10 with a reserve bid amount of $100 may only attract one bid at $15.
In this scenario the reserve amount will not be met, and the auction will not have closed successfully. Thus,
the buyer is under no obligation to sell the slide to the bidder, and no commission fees will be charged.
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BuyNow
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The BuyNow Price is set by the seller at the amount he/she is willing to sell
their slide outright.
Simply enter the BuyNow amount in the "Your Bid" amount field, and then hit the BuyNow button on the far
right side of the page.
When a slide is purchased outright using BuyNow, the bidding process is bypassed.
If there is only one slide being auctioned, the auction will be closed immediately.
The BuyNow feature can also be used when placing multiple slides for sale in
a Dutch auction. BuyNow bids will reduce the quantity available
until there is only one slide remaining, at which point the auction reverts to being
a regular format auction.
WARNING!! For the remaining item, the auction system does not allow
for proxy bidding.
This means all bids are placed at their full amount!!!
As long as there are multipe slides available, bidders are still welcome to place Dutch bids.
However, BuyNow bids always take priority over Dutch bids. For example, if 2 minutes
before an auction closes someone places a BuyNow bid for all three
remaining slides (that all have Dutch bids), the Dutch bidders will
loose the slides to the BuyNow bidder.
The number of BuyNow bids placed is shown next to the number of Dutch
bids on the auction details page. By clicking on the BuyNow history link
or bid history link, you can see the nicknames of everyone who placed bids.
Click here for more information on the BuyNow feature.
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Use of this Web site constitutes acceptance of the User Agreement
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