To expand our Exclusive High-End Jewelry line and decrease auction times, Bidz now offers Reserve Price auctions.
Reserve price auctions are similar to our live auctions with the exception that they have a minimum reserve price.
Reserve Price Auctions Starting at the Minimum
1. The auction will begin at the minimum reserve price and will display "Great Buy" under the Current Winner Status. Once the price is exceeded, the Current Winner status will change and will reflect the username of the highest bidder. When the auction closes it will be awarded to the highest bidder. If the price is not met, there will be no declared winner.
Reserve Price Auctions with a Hidden Minimum
Until the reserve price is met, the auction will show an indicator stating "Reserve Price is not Met". The Reserve Price will remain unknown to bidders. Once the price is met, the Reserve Price status will be removed from the auction page and the auction will be awarded to the highest bidder at closing time. If the price is not met, there will be no declared winner and the auction will close and display:
This Auction is NOT Sold!
If a reserved price is not met, the item will then be offered to all auction participants, at the reserve price. The item will be placed in each users account under "Special Offer". The offer will be on a first come first serve basis and while supply lasts. The first customer to purchase it will secure the offer. The offer will remain valid for 3 days from auction closing date and if offer is accepted the item will remain in your shopping cart for 30 minutes.In the event that an auction reaches an acceptable amount, we reserve the right to remove the minimum reserve price on the auction.
Please note, if you are placing an AutoBid on a Reserve Price Auction, your maximum bid amount may be accepted as the next bid amount.