The closing of the Buy-or-Bid Sale

You can see winning and losing bids in My Buy-or-Bid Watch List and you can add as many items to the list as possible.
Items are automatically added to the list after making a bid.
Different labels show if your bid is below the BidAsk Spread, outbid or accepted.

Item have a minimum starting bid price which can be below the BidAsk spread!

If you bid below the BidAsk spread, a label will show. Below Spread

• Bids below the BidAsk spread are usually not accepted by the seller and you have to increase your bid to be successful.
• However, the seller can lower his reserve to come closer to your offer, but the item only sells when the seller accepts your offer. When the seller accepts such a bid, an email is sent to the bidder.

You can monitor the buying and bidding status in one convenient place: My buy-or-bid Watch List.

Different labels are used to show the Buy or Bid status :
These are samples for an item listed at a Buy price of $ 500 and a BidAsk spread of $400-500

• Your Bid: $500 Sold to you
  When you pay the Buy price of $ 500, the item is immediately sold to you, and the sale for this item is closed.
• Your Bid: $400 Accepted
  The BidAsk spread ($400-$500) shows the range between the minimal accepted price and the Buy price. When you place a bid within the spread, your bid is automatically accepted by the seller, but the items only sell to you if no higher bid is received or the Buy price is paid before the closing.
• Your Bid: $50 Below Spread
  When your bid is below the BidAsk spread, sellers usually do not accept bids below the BidAsk spread. The item will only sell to you if the seller decides to accept your bid during or within 2 hours after the closing. Increase your bid to be successful.
• Your Bid: $450 Outbid
  When another user has outbid your bid, increase your bid to be successful.

In short, your label has to stay green to be successful.

The 'BidAsk Spread' shows the gap between the minimum accepted price of the item and the seller's asking price; this is called the Buy price.

• The lowest amount in the BidAsk Spread is the minimum accepted price of the item. The item will sell at the end of the sale to the highest received bid.
• The highest amount is equal to the Buy price. The Buy price can be paid any time during the sale, and the sale is immediately closed.

For bids entered within the BidAsk spread, we use the proxy-bidding process. Our system will act as your bidding agent by entering your bid competitively against other bidders.
You don’t have to worry about sitting at your computer to track the bidding process until the closing. Proxy bidding takes the stress out of the bidding process, and you get the item at the lowest possible price.

How it works
- You can bid the maximum price you would be willing to pay for an item.
- If there are no other bidders on a lot, the winning bid is always reduced to the lowest amount as shown in the BidAsk spread.
- If another bid comes in, the software will place a new bid following the bid increment until the sale ends and you win or the price exceeds your set maximum.
-Your maximum bid is always confidential.

For example:
- if the BidAsk spread is $50 - 100 and you place a bid of $ 80, and no other bids exist, the high bid will be reduced to $50.
- If another person places a bid of $55, our proxy system will increase your bid to $60 since that is one increment above the other bid.

Beginning at 3:55 PM, the computer will check each item at 5-minute intervals. If there has been a bid in the past 5 minutes, that individual item will remain open until there have been no bids received for 5 minutes.

After the closing of the sale

• The My Bid-or-Buy Watch List does show all purchased items and accepted bids.
• Bids below the bottom of the BidAsk spread can be accepted by the seller within 2 hours after the sale's closing.
• The buyer has 24 hours to delete an accepted below the BidAsk spread bid, or the item is considered sold.
• The online invoice will be available 2 hours after the sale's closing and emailed the next day. [Invoice section]
• Items that did not receive bids within the BidAsk spread and bids declined by the seller are no longer available after the sale's closing.