- Item Watch
- What is Reserve Price?
- Will I be notified of my bid status?
- How do I place a Bid?
- How Much Should I Bid?
- What is Proxy Bidding?
Item watch notifies you when someone bids on the auctions that you have added to your Item Watch.
What is Reserve Price?
Sellers have the option of setting a hidden Reserve Price that is above the minimum starting bid. If a reserve price is in effect, then the seller does not have sell the item unless the high bid meets or exceeds his reserve. Auctions with a reserve price will be noted in their listing, describing whether the reserve has been met or not. The actual amount of the reserve price is not revealed to bidders, until it has been met.
When you submit a bid on a reserve price auction, one of three things might happen:
(1) If the reserve has already been met, then your bid will be submitted at one increment above the next highest competitor, in the same manner as an auction without a reserve price.
(2) If the reserve has not been met, and your maximum bid is also less than the reserve, then your bid will be entered at one increment above the next highest competitor.
(3) If the reserve has not been met, but your maximum bid is enough to meet the reserve, then your bid will be entered at exactly the seller\\\'s reserve price. If your maximum was above the seller\\\'s reserve, then your proxy will defend your bid, up to your maximum. If you are the highest bidder at auction close but the reserve was not met, then neither you nor the seller are obligated to the transaction.
Will I be notified of my bid status?
If you are outbid by another bidder, you will receive an email informing you of this. If you are the high bidder at the end of the auction, you will receive an email with the good news. The email is sent immediately after either of the above events, but it is hard to predict how long it will take to traverse cyberspace and hit your in-box. So, if you are keen on acquiring a particular item, sign in to the Salabue Auctions near the end of the auction and watch the bidding. Good Luck!
How do I place a Bid?
Placing a bid at Salabue Auctions on an item is actually pretty quick and easy. At the bottom of every auction listing will be a "bidding" section. There will be three boxes to fill out, the amount you want to bid, your Username, and your password. You must bid at least the minimum bid price, which will be shown next to the bid field. With the Salabue Proxy Bidding system, you can actually bid your maximum price, and let the Proxy do the bidding for you.
How Much Should I Bid?
Deciding on your bid amount is an important part of the buying process at auctions. One benefit of the auction format is that you can see what other people are willing to pay for an item. The best strategy at Salabue Auctions is to bid the maximum price you are willing to pay, and let your Proxy enter bids as necessary.
What is Proxy Bidding?
The Proxy Bidding System is designed to save you the time of having to watch every bid at the auction, and is used by all reputable internet auction systems. Essentially, you bid the Maximum price you are willing to pay, right off the bat. But your bid is actually kept confidential, and not posted. The system is now bidding for you, as a \"Proxy\".
When you enter your maximum bid, one of three things might happen:
1. If there is no reserve, or the reserve has been met, then your Proxy will try to bid as little as possible to get you the high bid. Then it will wait to see if anyone tries to outbid you. Your Proxy will only bid one increment more than your competition, and will never bid more than your maximum. If someone bids more than your top price, you will be notified.
2. If the seller has a reserve price on his auction, then your Proxy will see if it can meet the reserve. If your maximum is more than the seller\'s reserve, it will submit your bid at the reserve price exactly, and then see if anyone tries to outbid you.
3. If the previous bidder had a Proxy in place (hidden maximum bid), then your proxy will try to beat the previous bidder\'s if possible.
4. Your proxy (the computer), will never bid more than your maximum, and will always try to help you win for as little as possible. By bidding your maximum right away, you are sure not to pay too much at the end of an exciting auction. If the bidding goes higher than your maximum, then you probably would not have paid that much anyway.