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BidatSoldNow Help |
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BidatSoldNow Help |
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Buyer's Fee
An additional amount which will be added to the price of all items sold. This will
be indicated in the auction description, asset detail page, or other
clearly- marked area.
Current Bid
The present high offer placed by a registered bidder. To become
the current high bidder, you must advance the bidding by the next
Bid Increment. Current Bid + Bid Increment = Next Allowable Bid.
Duration
Also called "Auction Duration." The length of time, in days or
hours, the asset will be offered for sale. The Duration is
determined by the Seller. All auctions close automatically at the
designated closing time or a predetermined amount of time following
the last bid.
Increment (bid)
Also called "Next Bid Increment" or "Bid Increment." The dollar
amount by which the bidding is advanced. This amount may be
different from one auction to the next based on the value of the
items being sold. You can view the posted increments of each auction
by clicking on the link at the bottom center of each page.
Example:
|
Current Dollar
Amount Bid |
Bid Increment (
Increases At ) |
|
$ 00.01 - $ 49.00 |
$ 1.00 |
|
$ 50.00 - $ 99.00 |
$ 5.00 |
|
$ 100.00 - $
249.00 |
$20.00 |
|
$ 250.00 - $
999.00 |
$ 50.00 |
|
$ 1000.00 - $
2499.00 |
$ 100.00 |
|
$ 2500.00 - $
4999.00 |
$ 250.00 |
|
$ 5000.00 - $
24,999.00 |
$ 500.00 |
|
$ 25,000.00 - $
99,999.00 |
$ 1,000.00 |
|
$ 100,000.00 + |
$ 2,500.00 |
Lot
For online (non-auctioneer) auctions, it is best described as a
single asset or a group of assets sold as a single unit for one
price.
Lot Number
The inventory number assigned to describe a single asset or a
group of assets sold as a single unit.
Maximum Bid
Our system will place bids on your behalf
so that you are the current high bidder and will continue to place bids on your behalf
up to the amount you have designated in the "Maximum Bid" column.
Example; If
another bidder places a bid and you are no longer the high bidder,
Our system will automatically bid for you, and will continue to bid
on your behalf as necessary up to the maximum bid you have
designated.
Minimum Bid
The Minimum Bid is a price established by the Seller below which
the asset may not be sold. The Minimum Bid can be the Opening Price
or Reserve Price.
On-Line Auction
These are traditional auction where bidding takes place by using
a personal computer and the internet to place bids on items. The bidding takes place entirely online.
Opening Bid
Also called "Starting Bid." A required price entered by the
Seller that must be met or exceeded before there can be a high
bidder.
Quantity
For Multiple-Quantities, the High Bidders are given the option
at auction close to purchase one or all of the items in the lot
Reserve Price
The price at which the Seller is obligated to sell the asset.
Reserve prices are set by the seller, and are optional; and act to
protect the seller's financial interest in an asset. If the highest
bid is below the Reserve Price, the Seller may, at his discretion,
sell the asset at that price, but is not obligated to do so.
Unit
An Individual item or Lot. |
