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User Agreement |
Please read our User Agreement which outlines the site policies and terms of use.
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Reverse Auction Types |
See our new Reverse Auction features: Reverse Auctions
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English Auctions |
English auctions are probably the most common type. Users bid the highest
price they are willing to pay for an item and bidding activity stops when
the auction duration is complete. The item is sold to the highest bidder at their bid price.
English auctions also allow the seller to specify a reserve price below
which the item will not be sold.
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Dynamic Auction Closing |
Machinesused.com's Auction Site utilizes Dynamic Closing. Dynamic Bid Time is set by the Auctioneer when posting the auction item. Dynamic Bidding allows for bidding to continue beyond the posted end time of the auction. Bidding will be allowed to continue after the posted closing time, as long as there is successful bid activity within three minutes of the posted close. Bidding will then continue as long as there is a successful bid placed within three minutes of the last successful bid. After the posted auction closing time, if there has not been a successful bid for three minutes, the auction will automatically end. The high bidder will be notified as the winning bidder.
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Regular Auction Bidding |
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A Regular Bid is a standard in auction bidding. The amount that you place into this field will be the amount of the bid that you are making. The necessity of having to continually update your bid is a drawback to this type of a bid.
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Auto Bidding |
The Auto Bid takes advantage of the computer in the On-Line auction environment. Using the Auto Bid feature you can place a bid at the maximum amount that you are willing to pay for an item, and let the software bid for you. You will then be free to go about your daily business. The Visual Auction© software that runs this auction site will automatically advance the bidding if someone bids more than the current bid and less than your Auto Bid. Example:You are willing to bid $5,000.00 for a certain item. The bidding is currently at $1,500.00. The minimum bidding increment is set at $100.00You place an AUTO BID of $5,000.00. A bid will automatically be placed for you at $1,600.00. When another bidder enters a bid of $1,700.00, the software will automatically enter your next bid at $1,800.00. This auto bidding will continue until competitive bids stop, or exceed your maximum Auto Bid. You will be notified by email if your maximum Auto Bid has been exceeded by another bidder.
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