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ABOUT US - The Bidding Process
Welcome to ozebid.com.au
Thank you for coming to one of the newest but HOTTEST, fast-paced Daily eCommerce companies on the World Wide Web.
We have a wide range of products that you can bid for daily and win at ridiculously low prices.
Check out our Live Auctions now to see which one you would like to bid on or you can Spin the Wheel for FREE bids or you can buy credits bids and place bids, its as simple as that.
Each bid raises the sales price .01 (or other nominated amount as each promotion displays) when the last bidder ABOVE the Reserve price wins item.
Buy It Now:
OZEBID.com.au offers a "Buy It Now" option on every item:
If you don't win the auction you can still save big with the "Buy It Now" option, where prices are always less than retail and nearer wholesale.
TR= Timed Reserve Auctions:
Most auctions at OZEBID have a reserve price. The reserve price varies on each auction and is put in place to secure the longevity and health of the OZEBID Penny Auction.
The reserve price ranges between .01 to 7% of Retail and cannot be predicted upfront.
Timers and Bidding:
Auctions are always live with a timer that counts down to Zero applying Bids approximately every 10 seconds from OZEBID proprietary Auto-bidding software or any Manual Bids.
1. TIMERS RUN OUT:
a. This occurs when the Top Bidder exceeds the Reserve Price and becomes the highest bidder remaining for that item.
b. A final warning will flash on screen messaging
c. "GOING ONCE" "GOING TWICE" "SOLD" where the item is then knocked down to the final Top Bidder, winning the Auction
If bids are placed during the "GOING ONCE, GOING TWICE" warnings, another 10seconds will be added to the timer, starting the countdown again from 10, 9, 8, etc . . . .
2. TIMER RUNS OUT and The Reserve Price on Auctions is NOT met:
a. the timer will count down to Zero and a warning will flash RESERVE NOT MET, GOING ONCE, GOING TWICE giving all bidders a chance to apply bids to try and hit the reserve level.
b. Each bid applied during the warnings will add 10 seconds to the timer, if no bids are applied then a final RESERVE NOT MET will flash ending the auction (No one wins the Auction) and all bids placed on the auction and auto bidders will be put back in the users accounts immediately. (BID BACK GUARANTEE)
VERY IMPORTANT: in the last second of any auction, until the warning "RESERVE NOT MET" goes away there is no winner of that auction even if you are the highest bidder.
***BID BACK GUARANTEE***
If an auction does not meet the Reserve level (No one wins the Auction) the timer will count down to Zero and a button will appear saying "RESERVE NOT MET", all BIDS placed on the auction will be returned to the Users account to be used immediately on other auctions.
The Spinner Wheel is a fun and exciting way to win free bids to participate in our auctions.
You may spin the wheel once every 24 hours!
11 Nov 2017
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