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Auction Information Guide
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| Below you will find an overview of the various aspects of conducting
an online auction. For additional information, be sure to review your
User
Agreement. |
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At the seller's option, auctions last any number of days from the day of
listing the item. Bidding automatically terminates at the end of the auction.
When the auction ends, the seller and winning bidder(s) are notified via e-mail.
These e-mails will contain all the information needed for the buyer and seller to
complete the transaction. Auction results will also be available for everyone to
review. These results indicate the final bid price and the seller's and winning
bidder's User Names. A complete bidding history is also available as a link from
the item's description page.
The winning bidder(s) and seller should contact each other within 5 business
days after the end of the auction. A seller may contact the next-highest
bidder if the seller is unable to contact and make arrangements for the
transaction with the winning bidder(s) within 5 business days. The winning
bidder(s) may lose their place as winning bidder if they do not contact the
seller within 5 business days of the end of the auction.
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IMPORTANT: By placing a bid, you are placing a legally binding
and irrevocable offer to purchase the item at any price up through your maximum
bid amount. If the seller accepts your bid, then you are legally obligated to
complete the transaction. Your failure to complete the transaction is a breach
of the User Agreement and may be legally actionable by the seller. In most cases,
this will result in a "unfavorable" feedback rating and possible termination in
the use of this service. You must provide a valid email address or User ID with
your bid.
Before you place a bid, you should verify the item(s) you're bidding on and the
seller's reputability as best you can. If you have any questions about the item,
e-mail your questions to the seller before you bid. Make sure you clearly
understand the shipping terms and amounts (who pays?), payment terms (can you pay
by personal check, credit card, etc.) and other details. Look at the seller's
feedback grade and see how others have interacted with this seller in the past by
clicking on this grade. Always check the feedback of the seller first before
bidding on an item and read the descriptions of the feedback in addition to simply
looking at the seller's feedback score.
You can place a bid when you are viewing the item you would like to bid on. Please
enter the maximum bid amount you are willing to pay for the item. This amount is
kept secret! The "auto-bidding" feature, if necessary, will automatically make
bids on your behalf as other bidders increase the bid price, up to your maximum
amount or the necessary preset bid increment to outbid other bidders. (All bidding
is done with bid increments, which vary from item to item based on system settings.)
This process is different for Dutch Auctions as explained later. In the case of a
tie for the highest bid, the earlier bid takes precedence.
Once you make and confirm a bid, you cannot retract it except in exceptional
circumstances. Exceptional circumstances include the seller materially changing
the description of the item after your bid and clear typographical errors.
Exceptional circumstances do not include bidding or winning a bid on another
(perhaps similar) item, not having the budget to pay for an item, changing your
mind, etc. Bid carefully! This is a legally binding transaction.
Our system will automatically e-mail you, subject to the reliability of Internet
e-mail, if another bidder outbids your maximum bid. However, you might be outbid
minutes or seconds before the close of an auction. Due to the amount of time it
may take for e-mails to make their way across the Internet you may not receive
notification of your bidding status before the bidding is closed for that item.
Please check the item status regularly as the auction closing time nears to ensure
you have the opportunity to place a new bid if necessary. To take advantage of
the "auto-bid" feature, you should bid the maximum amount you would be willing to
pay for the item when you make your first bid.
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You may e-mail the seller to clarify the terms of
shipping and insurance if you have not done so before the bid. Negotiate with
the seller for escrow, sales tax, shipping fees, and payment per the terms on
their item description page, if any. Pay promptly -- and leave feedback about
your experience!
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Selling an Item/Account Status
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IMPORTANT: By auctioning an item, you
are irrevocably (except as described below) and legally committing to accept
the high bid for the item (or the highest-bidder who does not renege). If you
receive one or more bids above the minimum price you stated you would be
willing to accept and a reserve price is not specified, then you are legally
obligated to complete the transaction. Your failure to complete the transaction
is a breach of the User Agreement and may be legally actionable by one or more
of the bidders.
Starting your own auction is very easy! Just click on the “list item” button found
throughout our site and you will be transported to our List Item Form. You must be
a registered user to list an item on this auction site.
Fill in all the applicable information about your item(s), providing a short,
descriptive title and a complete description of the item. You cannot use HTML
tags in the title, but you may use HTML in your item's description. This means
that you can link to pictures if you choose. All content linked to the item
description must comply with the User Agreement.
You may want to consider setting the minimum bid for your item a little lower
than you think the item will eventually be sold for, just to get the auction
going. If your minimum bid is too high, people may not bid. However, keep in
mind that when the minimum bid is reached, and you have not specified a reserve
price, you will have to complete that transaction for that minimum bid price.
Our software automatically specifies the bidding increment based on system
settings.
You may place any merchandise up for auction that you have the right to sell, so
long as it complies with the User Agreement and does not violate any other posted
rules of this site. Please list your item in an appropriate category.
In the description of your item, you should clarify any additional terms or
expenses associated with the item, such as who will pay shipping and insurance
expenses. These items are never assumed and should be clearly stated in the
description.
The Auction Staff and your bidders expect truthfulness in your listings.
Disappointed buyers are likely to leave you negative feedback and pursue legal
action if necessary.
Staying in communication with inquiring bidders/buyers is essential for a
successful auction. It's good business to respond to all inquiries promptly.
Selling an item may incur debits to your online account with us. These fees will
be disclosed when you list an item, and again, in the form of monthly e-mail
statements or can be viewed by going to your Personal Page. Keeping your account
current is essential to allow uninterrupted access to our site and it's features.
You can ensure this by either placing a Credit Card on file with our service, or
paying your monthly bills in a timely manner. If you do not place a Credit Card
on file with us, your account may be limited to a specified amount.
If your account is past due, you may incur late fees or find your account on hold;
please keep your account balance current.
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Once the auction is over, you and other interested parties,
will be notified via email. However, if you are bidding on an item, you are
responsible for checking to see if you have won. If you do not receive notice
and think you are a winning bidder, you need to check the auction status by
returning to this auction site for the auction results. After the auction has
ended the winning bidder(s) need to contact the seller within three days. The
seller should also do the same.
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Some notes regarding pricing:
First, we encourage sellers to set the minimum bid for their auction at the lowest
fair price at which they feel comfortable selling their item.
Second, a seller may employ a reserve price auction. This allows the seller to set
an undisclosed (to the bidders) price below which he or she does not agree to sell
the item.
Third, a seller may not bid on his or her own auction. If the seller starts an
auction and decides they no longer wish to sell his or her item, the seller should
end the auction early. Again, you are reminded that ending an auction early may
have some adverse effects on your User account.
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Auctions may be run with reserve prices. The reserve price is
the lowest price at which a seller is willing to sell an item. The reserve
price is not disclosed to bidders. During an auction, an icon will be
displayed in the item information screen if the seller has specified a reserve
price. However, some bidders do not prefer to bid on reserve price auctions.
Using a reserve price may limit your bidding activity. Therefore, use a
reserve price only when necessary.
The seller specifies the reserve price when he or she lists an item. This price
should be above the minimum bid price. The auction begins at the minimum bid
price. When a bidder's maximum bid is equal to or greater than the reserve price,
the item's current price is raised to the reserve price. At this time, the item
information will indicate the reserve price has been met. The bidder is also
notified that his or her bid met the reserve.
Please note that reserve price auctions are not available for Dutch
auctions.
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Dutch auctions are a special auction format where a seller
has multiple, identical items they want to sell. The seller specifies the
minimum price (the starting bid) and the number of items available. Bidders
bid at or above that minimum for the quantity they are interested in
purchasing. At the close of the auction, the highest bidders purchase the
items at the lowest successful bid.
For example, there are 10 lampwork beads being sold at $7.50 each. 25 people bid $7.50 for
one lampwork bead each. In this case, only the first 10 people will be the successful
bidders, since the bid amounts are the same, and earlier bids take
precedence.
Now, say that one of those people bid $7.75 for one lampwork bead. Since her bid is higher
than all the others are, she will certainly be one of the successful bidders. The
earliest bidders who bid $7.50 will claim the other 9 lampwork beads, and the final price
for each lampwork bead will be $7.50.
If enough people bid above the minimum bid, the final price of the item will
increase as well. On the other hand, if less than 10 people bid in our example,
then only that number of lampwork beads will be sold at the opening price of $7.50. For
the selling price to increase past the opening price specified by the seller,
there must be an equal or higher level of demand than the supply indicated. In
our example, the selling price would only increase if 11 or more lampwork beads were bid
upon, no matter what the amount of each bid.
In the case of multiple quantities bid for by a bidder, the lowest bidder may not
earn the right to purchase the complete quantity, since there may only be one left
by the time the higher bidders have been processed. In other words, if the lowest
bidder requested a quantity of 3 lampwork beads, she might only be entitled to one lampwork bead,
since 9 other lampwork beads could be allocated to higher bidders. The only way around
this problem is to ensure that you are not the lowest bidder. If it is agreeable
to the seller, the bidder may not be obligated to partial quantities if the
bidder cannot purchase the full quantity bid on. In that case, the seller may skip
that bidder and move on to the next one, if any.
In Dutch auctions, the current standings are always displayed with the Item
Description Page, and the complete bidding history (including unsuccessful bids)
are also available.
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During your transactions, take the time to record the member
information you obtain permission to use. That way, you can contact that
member should you have questions regarding your transaction. This site does
not give out contact information to registered users for the safety of our
members. Therefore, you should keep careful record of information given to you
from that user should you need to contact that member again.
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We encourage all users to leave feedback about your trading
partners. Only individuals directly involved in the transaction will be able
to submit feedback about that transaction. Feedback is submitted as Positive,
Neutral or Negative with a brief narrative of the transaction. Do not abuse
the privilege of posting feedback about others. Abuse of this system may
result in the permanent revocation of user privileges.
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You must enter correct contact information to be a member of
this auction site. This is the information that will be available only to our
staff, so they may contact you regarding transactions and your account.
After entering your correct data, you will be sent an e-mail with a registration
code. You must then return to the web address specified in the e-mail and enter
the registration code in the space provided. Only then will your registration be
complete. This method is preferred because this verifies your correct e-mail and
maintains your anonymity.
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Please contact members before you begin your transaction.
Most fraud complaints tend to be misunderstandings about the product, shipping
terms, or shipping addresses. You should clarify all of these elements before
you bid, and definitely before you send money. However, fraud is a reality of
business, both on and off the Web, and you should report it to the authorities
if it happens in our community.
Some items are not legal to sell on this auction site. Please do not list an item
that is fraudulent or unnacceptable, legal action will be taken. JustBeads.com
reserves the right to refuse any item for auction. We also reserve the right to
delete or alter text submitted by a seller that is deemed inappropriate.
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Members of this auction site do not tolerate spam. Do not
add a member's email address to your address book or mailing list unless you
have explicit permission from that member. Spam is unsolicited, commercial
email. Violation of our user's privacy in this matter will result in member
removal.
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