How Does BIN work?
Effective 6/15/2016 LazyBids is introducing the NEW BIN (Buy It Now) Feature
MUST READ - THERE IS NO BIN (Buy It Now) ON ANY GIFT CARD OR BID PACK AUCTIONS.
All bidders on a specific Item can receive credit back for All bids used in an Auction Up to a Maximum of 25% credit/discount off the value of the Items (Compare To: / Buy Price).
Example: 1.Auctioned Item has a (Compare To: / Buy Price) of $20.00 Bidder used 15 bids in the auction, if they click Buy It Now tab you would see a discount of $3.75 (15 bids x 0.25 = $3.75)
2.Auctioned Item has a (Compare To: / Buy Price) of $20.00 Bidder used 30 Bids in the auction, if they click Buy It Now tab you would see a discount of $5.00 (30 bids x0.25 = $7.50) BUT the Maximum of 25% off the value of the Item is $5.00.
NOTE: Remember the BIN discount will be whichever is less in credit/discount value, either the value of the bids used x 0.25 per bid or 25% of the (Compare To: / Buy Price)
All credits/discounts for Bids used in the auction have a credit or discount value of 0.25 per bid.
KRAZY BIN: refers to if a member bids on a TR (Timed Reserve) auction and the reserve is NOT met, remember LazyBids has the Bid Back Guarantee so all bidders get all their bids back in their account to use on future auctions BUT all the bids used in the auction still go towards the credit/discount to purchase the Item thru BIN.
The BIN on an Item can be purchased even before the auction has ended, it will just give you credit for the bids you have placed on the auctioned Item.
Please: thoroughly review your purchase breakdown to assure the proper discount has been applied before you Pay.
What is the BIN purchase limit?
The BIN (Buy It Now) purchase limit currently is the same as our Win limit, a member is allowed a Maximum of 3 purchases a day using the BIN feature.
Watch the BIN Video