Ladies and Gentlemen, place your bets! Reverse Auctions are very different to general auctions. Here are the guidelines on how to bid on these Unique auctions:
How to BidYou will need to be Signed In. Click on the Reverse Auction listing you have spotted, (look out for the Dice). Make sure you familiarize yourself with the rules of the game by clicking on the 'How To Play' link in the listing.
Read the item description thoroughly and ask any questions through the Q&A if required. If you decide you want to try and win the item, go right a head and start guessing. You can bid as many times as you wish until the auction closes.
There are no minimum bid increments; however you must bid in cents. To register your bid, type in the amount you’re guessing into the box under where it says 'Your Bid' then click on ‘Place Bid ' to enter your bid into the game. Your bid/bids will then be added to the others relating to that item.
Your bid/bids history will register on the Reverse Auction page you have bid on, these will only be visible to you while you’re signed in. Other members cannot see your bids at any point.
Your can also view your bidding history, in ‘My Account’ ‘My Bids’. There will be only one entry for the Reverse Auction game. When you click on the link it will display all your bids, so you can remember what you have guessed before. Remember you don’t enter the highest price you think the item will sell for but the lowest UNIQUE price!
At the conclusion of the auction (when the required number of bids has been met) the lowest ten bids might be as follows:
Bid 1 $0.01
Bid 2 $0.01 – Bids 1 and 2 are the lowest bids, but are not ‘unique’
Bid 3 $0.02
Bid 4 $0.02
Bid 5 $0.03 – WINNER – this is the lowest ‘unique’ bid
Bid 6 $0.04
Bid 7 $0.04
Bid 8 $0.05 – ‘Unique’ bid, but not the lowest
Bid 9 $0.06
Bid 10 $0.06
Removing a bid? Unfortunately you cannot, in your My Bid's it will offer the cancel button but it won't actually cancel your bid; we are working on this function.
Bid Increments
There are no actual bid increments. Place your bids in cents. $4.09 - $5.65 - $34.89 - $00.30 etc
Remember you're trying to guess the Lowest Unique Bid amount.
Rules
A person must be an Address Verified Member of Trade Away. Have a minimum of $10.00 credit in their trading account. Understand a 'Reverse Auction' is a game where the lowest unique bid wins the item being auctioned.
By placing a bid in a Reverse Auction you agree to pay the relevant fees charged for this service. Reverse Auction fees are fully explained in the website Help pages and on this page. When you play Reverse Auctions members must adhere to these rules.
Trade Away reserves without notice the right in its absolute discretion to cancel, withdraw, reject, suspend or ban a bidder and their bid at any stage during the game.
