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When you take a look at the auctions on offer on BidMadness you will notice that we have many different types of auctions to choose from. They all pretty much work in the same way but some have a slight twist to them. This page looks at each auction type and provides you with a brief explanation on how to get bargain shopping and how to take advantage of online sale at bidmadness.com.au.
Standard Auctions
As the name suggests, these auctions are the most common ones on BidMadness and follow the basic rules:
- You bid using your "BidBucks" ($1 = 1 BidBuck)
- For every bid you make you will earn Bonus Points (e.g. $2 = 2 Bonus Points)
- A maximum number of bids is set (e.g. 300 bids - means only 300 bids will be taken)
- A maximum bid amount is set (e.g. $2.50 - means you cannot bid higher than this amount)
- An Admin Fee is charged for each bid you place (e.g. $1.50)
- Multiple bids on the same item attracts a discounts up to 50% off the original Admin Fee
- The auction will close at a specified time and date (eg. 20 Dec @ 10:00pm)
- The auction may be extended if at least 60% of the maximum number of bids has not been reached
- The Highest Unique Bid Wins!
- The winning bid amount is deducted from the winners Money Box
Rookie Auctions
are available to those members who HAVE NOT yet won any auctions of any type on BidMadness.If
you are new to BidMadness and not made any bids yet, or if you have
already placed bids on a , or a and have not been fortunate enough to win anything, then the
Rookie Auction is designed especially for you!
However, once you win a Rookie Auction you cannot bid on any future Rookie Auctions because you will no longer be a Rookie! The auction rules are the same as a Standard auction and the Highest Unique Bid Wins!
Mania Auctions
are similar to Standard Auctions but have a few small differences.
- No Maximum No. of Bids- The sky's the limit! We will take as many bids as our members are willing to make.
- Discounts do not apply-The full Admin Fee is charged for each bid.
- No auction extensions-The Mania Auction will end without fail on the date specified,
regardless of how many bids are received. That means no extensions to
the auction date regardless of whether we have received one bid or 500
bids!
Allother rules of Standard Auctions applyand the Highest Unique Bid still wins!
Bonus Auctions
Once you start accumulating your from bidding on other auctions, you can use them to bid with on our - Bargain! A Bonus Auction is
similar to a Standard Auction except you use your earned Bonus Points
instead of the BidBucks in your Money Box. That's right, you can bid and win without using money - DOUBLE BARGAIN! The winner is the member who bids the Highest Unique Amount of points for the item.
So you can see that the
more Bonus Points you earn, the more often you can bid on a Bonus
Auction and the greater your chances of winning! Note thatBonus
Points are valid for a period of 3 months from the date the points were
earned. Any unused Bonus Points will expire and be deducted from the
member's Bonus Points account balance and will be unable to use for the online sales available at bidmadness. General Rules - Bids are placed using your Bonus Points
- The Admin Fee is based on points and not money! (e.g. 10 Points)
- The Admin Fee remains the same for each bid, i.e. No Discounts.
- Place as many bids as you like (unless a Bid Limit is applied to the auction).
- All Bonus Point auctions have a Bid Increment of 1 point
- All Bonus Point auctions will have a Maximum Bid Amount and a Maximum Number of Bids assigned
- Bonus Points cannot be earned when bidding on a Bonus Auction
- The winning bid amount is deducted from the winners Bonus Points account
- You must have enough points in your account to pay for the winning bid amount.
Free Auctions
Yes it's true! BidMadness do have Free Auctions. This type of auction is exactly the same as a Standard Auction but there is NO ADMIN FEE!!. Basically bidding is absolutely Free!
The winner is the member who has bid the Highest Unique Bid at auction close, and like Standard Auctions, the winning bid amount is deducted from the winners Money Box, if that is not taking advantage of our site with our online sales we don't know what is - Bargain Shopping!
Snapshot Auctions
A Snapshot Auction is when we reveal to all members the bids on selected auctions. Yep, that's right.BidMadness is showing
you a "snapshot in time" of a range of bids made on an auction and
updating the snapshot at random times throughout the life of the auction or for a certain period of time.
So, now you have
the opportunity to see where the Highest Unique Bid is and where the other Unique
and Not Unique Bids sit within the range.
Why
have we done this?
We have had many requests from members that we show the bidding. Once again we
have listened to our members and will now choose selected auctions where we
will provide a snapshot look at the bidding. You can now be
more strategic with your bidding. By seeing where the Highest Unique Bid is
lying within the bidding range, you can have a better idea of where to place your
next bids and where you need to bid to knockout the current leader.
Is this fair for all bidders?
Yes!!
If everyone can see all the bids then everyone knows exactly where their bids
lie within the range and where everyone else's bids have been placed. The trick
is to be quicker and smarter than anyone else in placing your next lot of bids.
What do we show you?
You will only be allowed to see the BID AMOUNT, DATE & TIME and LEVEL OF
UNIQUENESS. We will never show you the Member ID or Member Name.
Mystery Auctions
Think of a Mystery Auction as something like a lucky dip. It's fun and costs you very little to play. The overall rules are the same as a Standard Auction but:
- We don't tell you what the auction item is
- You are given a small clue about the product
- A bid limit is applied (e.g. Only 10 bids allowed per person)
- The Admin Fee is generally extremely low (e.g. $0.20 cents - Bargain!)
- Once the auction closes the product is revealed
Just because we hide the identity of the product does not mean its a crappy $2 shop product. No way! BidMadness only auctions the best products from the best brands! And as always, the Highest Unique Bid Wins.
Hidden Auctions
A Hidden Auction is one where only members who receive a special email
will have access to the auction and to bid on it exclusively for a defined time
period.The Hidden Auction can only be found by clicking on the URL link
found within special email. You will never be able to access or see the
auction any other way. The only BidMadness members who can find a Hidden Auction are the ones
who get the email. No other members will be able to find the auction and won't even know it is active.
It is not visible by going directly to the website and does not appear in any
of the auction category pages. So, if you are lucky enough to receive the special email be smart and don't tell
your friends that you are part of the hidden auction...keep it a secret otherwise you ruin your own chances of
winning! AUCTION VARIABLES
Sometimes we throw in a few changes to the bidding system to make it a bit more exciting and to offer some variety. No one likes a boring auction, especially us!
Bid Limits
Some selected auctions have a Bid Limit applied which
sets the maximum number of bids any member can place on the auction.
For example, if the Bid Limit is 10, then the member is only allowed to
submit a maximum of 10 bids on the auction item.
Bid Limits can be applied to any Auction Type but you will typically find them on Bonus Auctions, Free Auctions and some Standard Auctions.
Bids Only
From time to time you will see an auction that will close only when ALL BIDS have been received. This means than there is no specified close time and date. A maximum number of bids will be set and once all the bids have been made and the bid count reaches zero, then the auction is closed.
The other difference is that the auction will show you the No. of Bids Remaining. In other words, you will see a countdown of bids until the number reaches zero. This helps you to know how many more bids are required before the auction will close.
These type of auctions could last days or months. The length of the auction totally depends on you! The quicker the bids are placed on the auction, the sooner it will close. Bargain Shopping
Talk about bargain shopping, BidMadness has the biggest bargains around in the online world. With products selling for less than $5 that are retailed at $800 is an online shoppers dream. If that is not a bargain, what is?
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