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 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.
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.
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.