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LOCK OUT AUCTIONS

Watch Lock Out Auctions Video

Watch LOCK OUT Auction Video




    


How do Lock Out Auctions Work?

LOCK OUT Auctions will have less competition than the regular auctions members are used to, this will minimize user collusion and keep a handful of bidders from locking up all the auctions.
The basic format is as follows:

NOTE: All auctions, TR or No Reserve the bidder has to have a Minimum of one bid placed on the auction either by manual bids or a bid placed in the auto-bidder/LazyLoader prior to the                LOCK OUT level being reached.

      TR (Timed Reserve) auctions, once the Reserve level is met the Auction will lock out any New Bidders. In the top right corner of the auction will have in RED print Timed Reserve price is already met, so stop any additional bidding at that time because the auction is locked from any NEW bidders. The bid button will still say Bid because you are a qualified bidder but to any users that do not have at least 1 bid on that auction it will say Locked. Exception TR Bid Packs do NOT have the Lock Out Feature Applied

 

             No Reserve auctions , will be on a scale and if there is a highest bidder before the scale is met they Win, the scale is ONLY used when bidders may hit those levels.
                      Items Retail price:  $0 - $10  (.50 Lock Out)                                        
                                                           $11 - $20  (1.00 Lock Out)
                                                           $21 - $30  (1.50 Lock Out)
                                                           $31 - $50  (2.00 Lock Out)
                                                          $51 - $100 (2.50 Lock Out)
                                              $101 and Above (3.00 Lock Out)          Revised and effective 9/1/2015

  

               This is a Regular Penny Auction with NO RESERVE and NO LOCK OUT feature attached, when the timer runs out and there are no additional bidders the highest bidder WINS.

 

THE ABOVE INFORMATION IS SUBJECT TO CHANGE AT LAZYBIDS SOLE DISCRETION  

 

VERY IMPORTANT: ONCE THE RESERVE LEVEL IS MET ON A TR AUCTION IN THE TOP RIGHT CORNER OF THE AUCTION WILL APPEAR IN RED INK "TIMED RESERVE PRICE IS ALREADY MET, SO STOP ANY ADDITIONAL BIDS BECAUSE THE AUCTION IS LOCKED FROM ANY NEW BIDDERS. THE BID BUTTON WILL STILL SAY BID BECAUSE YOU ARE A QUALIFIED BIDDER BUT TO ANY USER THAT DOES NOT HAVE AT LEAST 1 BID ON THAT AUCTION IT WILL SAY LOCKED.  NO RESERVE AUCTIONS WILL GO STRICTLY OFF THE SCALE ABOVE.