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$1 Dazzlers - The auction category of $1 Dazzlers is where you will find auctions for an Admin Fee of $1 (1 BidBuck) or less.
Admin Fee - The administration and handling fee that is paid by a member for each Bid.
Agreement - The terms and conditions which are to be read and accepted by each member before taking part in this online auction system.
Auction Credits - Auction Credits are given to members when an auction has blinking blue text stating something like: Spend 10 BidBucks, Get 3 BidBucks Free Credit! This means that every time your bids total 10 BidBucks in Admin Fees you will receive 3 BidBucks back into your member's money box account.
Auction No. - This is the unique identifying number given to each item posted for auction.
Auction Results - The list of bids received that are published on the website following the close of an auction.
Auction Variables - means the Bid Increment, Maximum Bid Amount, Maximum Number of Bids, Admin Fee, Start Date, Closing Date, Closing Time
Bid - An offer by a specific Bidder to pay a specific Bid Amount for a product or service in a BidMadness Online Auction that is accepted by BidMadness.
Bid Amount - The value in BidBucks which is bid for a particular item on a BidMadness Auction. BidBucks - The unit of currency used on BidMadness to place bids and pay for Admin Fees. 1 BidBuck = $1 AUD. Bid Clues - Clues given after each bid to show the bidder how far (or close) their bid is from the Highest Unique Bid (HUB).
Bidder - A Member who has submitted a specific Bid Amount for a product or service in an online Auction.
Bid Increment - The amount that is determinded and allowed by BidMadness to separate possible Bid Amounts. For example, $0.10 means that you can enter amounts in increments of 10 cents, like $2.50, $3.60, $13.20.
Bid Limits - Some selected auctions have a Bid Limit applied which sets the maximum number of bids any member can place on the auction. Example: If the Bid Limit is 10, then the member is only allowed to submit a maximum of 10 bids on the auction item.
BidManiac - A member of BidMadness.
BidManiac ID - BidManiacs are identified by their own unique ID number.
BM Credits - BM Credits are free credits given by BidMadness to its members who participate in promotions. BM Credits include Deposit Credits, Auction Credits and Coupon Credits. Unused BM Credits expire after 3 months.
Bonus Auctions - Auctions similar to Standard Auctions but bids are made with Bonus Points instead of money.
Bonus Points - Free points earned in a number of different ways which can be used to bid on Bonus Auctions. Bonus Points earned are valid for 3 months from the date the points were earned. Unused Bonus Points within the 3 month period will expire and be deducted from the member's Bonus Points account balance.
Closing Date - The date at which an auction ends.
Closing Time - The time at which an auction ends.
Coupon Code - A promotional code given by BidMadness to members and non-members which can be redeemed for Bonus Points and/or Bonus Credits. Coupon Credits - A
free credit given by BidMadness to members and non-members which
can be redeemed when a coupon code is used as part of a promotion.
Deposit Credit - Deposit Credits are free credits given to members as a promotional incentive. Deposit Credits are applied only when a member transfers funds into their BidMadness Money Box via PayPal, and only during the time period of the advertised promotion. A Deposit Credit is an additional percentage applied to the transferred amount. Example: If the promotion states that the Deposit Credit is 20%, the member will receive an extra $20 on a funds transfer of $100. Deposit Credits are valid for 3 months. Unused credits will expire and be deducted from the members BM Credit balance. Hidden Auctions - Auctions which are only revelead to an exclusive number of members via an email. Only members who receive the email will see the auction.
Highest Unique Bid - A bid that is the highest amount and different from any other bid amount for that specific auction. HUB - Acronym for Highest Unique Bid
Item - One unit/package of a particular product/service on offer for a specific Auction.
Mania Auction - An auction that has no maximum number of bids, no restriction on how many times you can bid and no auction extensions regardless of how many bids are received.
Maximum Bid Amount - The maximum value of a bid, as determined by BidMadness that can be made in a specific Auction.
Maximum Number of Bids - The maximum number of Bids that will be accepted in any one specific BidMadness auction.
Member - A person who has accepted the terms and conditions and is registered with BidMadness.
My Single Bid - This method is the original and traditional way of bidding - one bid at a time.
My Bid Range - My Bid Range allows you to place a range of bids of up to 10 increments in numerical order. For example you could place a bid range of $1.20 to $1.29 in 1 cent increments.
My Random Bids - My Random Bids allows you to place up to 10 random bids at once. You first select the number of bids you wish to make from a drop down selection box (2 to 10 bids) then enter your bids in the bid boxes. Your bids DO NOT have to be in numerical order.
For example, you may choose to make 5 bids as follows: $1.00, $1.20, $.76, $2.34 and $2.00.
Not Unique - A bid that is the same as another bid for that specific auction.
Payment Gateway - A payment gateway is a service provided by a billing processor, which allows credit card information to be collected and passed over the Internet. A payment gateway can be thought of as a digital equivalent to a credit card processing terminal.
PayPal - An account-based system that lets anyone with an email address securely send and receive online payments using their credit card or bank account.
Quantity Available - The number of items that are available in a specific Auction.
Required Bids - The number of Bids that are required for a specific Auction to close.
Retail Price - Considered to be the wholesalers suggested or recommended retail selling price.
Rookie Auction - Rookie Auctions are available to BidManiacs 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 Bonus Auction, Mania Auction or a Standard Auction and have not been fortunate enough to win anything then the Rookie Auction is designed especially for you! Snapshot Auction - An auction where we reveal to all members the bids on a live auction. You are shown a "snapshot in time" of a range of bids made on an auction and the snapshot is updated at random times throughout the life of the auction.
SSL - A security protocol that provides communication privacy. SSL enables client and server applications to communicate in a way that is designed to prevent eavesdropping, tampering, and message forgery.
Start Date - The date on which BidMadness will commence to accept bids in respect of a nominated Auction.
Supplier - Any organisation or person who has been approved by BidMadness to supply goods or services for auction.
Unique Bid - A bid that is different from any other bid amount for that specific auction.
Winning Bid - A bid that is different from any other bid amount for that specific auction.
Winning Bidder - The Bidder that is determined by BidMadness to have won an Auction and has the right to purchase the specific product or service won on an Auction.
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