Auction Bidding Formats and Bid Styles

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Bidding Formats

Each auction item has a designated bidding format of Combination, Dutch, or Instant Purchase. Most items are designated as Combination.


Combination Bids
Bids may be entered as an absolute bid or a limit bid (see Bid Styles below). Be sure you choose which type of bid by clicking the “radio” button each time you place a bid.

Dutch Bids – This style of bidding is used when two or more units of the item are auctioned, such as a group trip where there are multiple spots that can be bid on. You must designate how many units you want and specify an absolute bid. To stay in the lead position for the number of units you want, place a reasonably high absolute bid—otherwise you may end up winning only a portion of the items you wanted. Tip: Keep a close watch on dutch bids to be sure you win the number of units you wish. You will NOT get a notice if someone outbids you.

REMEMBER: Just because you make a bid, it does not mean you will win the item. You must be the top bidder (or bidders, with Dutch items) when the auction item closes.

Bid Styles: Absolute and Limit

gavel-568417_1280LIMIT BIDS

With limit bids, you set the maximum amount (or limit) you want to pay for an item. The Auction site will automatically keep you in the lead (upping your bid by the minimum increment) until hitting the maximum amount you specify.

Example: An item is currently at $300 and you set a limit bid of $500. Each time someone else adds a bid, your bid will automatically increase to the next increment that makes you the top bidder.

Tip: Always check your watch list to see if someone has bid beyond the limit you placed on an item.

ABSOLUTE BIDS

When you place an absolute bid (or traditional bid), that dollar amount is the immediate amount you wish to pay for the item. Be aware that if someone else has made a limit bid on the item, you may be quickly outbid. However, if you set your bid high enough, you may become the high bidder. This method is good for items you really want to win.

Example 1: An item is currently at $300 and you place an absolute bid of $500. You are now the top bidder. However, if there is someone with a limit bid of $600, their bid becomes the highest bid (at the next increment above your $500 absolute bid).

Tip: To keep bidding hassle-free, set an amount that is high enough to keep you in the top bid position.

BUY IT NOW (Instant Purchase Bids)

This option allows you to buy an item immediately at the designated, fixed price (“Buy Price”). This option is available until the current high bid meets or exceeds the Buy Price. To use this feature, go to the bid form of the respective item, select the BUY button, and confirm the purchase.

Bidder Beware! If the current high bid on an item is BELOW the Buy Price, the item may be sold to another user via the Buy It Now option.

identifies when an item has been sold (and closed) using this option.