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| Straight
Auction |
| This is the traditional
auction for a single item, where the seller sets an opening bid and a duration
of the auction. If there are any bids at or above the opening bid, then
the high bidder at the close of auction wins the item. The seller is
obligated to sell the item to the high bidder for the winning bid price, and the
high bidder is obligated to purchase the item. Please note that shipping
costs are usually payable by the bidder, in addition to the bid price.
Sellers are asked to specify who will pay shipping costs when listing an
auction.
Sellers: list
an auction here.
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| Dutch
Auction |
| Multiple items selling
within one auction listing, with multiple winning bids. Seller declares an
opening bid, and how many items are available. All items must be
identical, including finish, age, and condition. Thus, Dutch Auctions are
best suited for special promotions of new products.
All winning bidders pay the same price,
which is the lowest winning bid. If there are more items than interested
bidders, then each bidder wins one item at the starting price. If there
are more bidders than items, then the price starts to rise. Winners are
selected by highest bid first, then by the earliest entries in case of equal
bids. Below are some examples.
Examples:
Seller lists 5 tubes in a Dutch auction, with the opening bid set at $10.
If 3 people submit bids, then all three win one tube each, for $10.
If 1 bidder entered $25, and 4 others entered $10, then all 5 bidders pay only
$10, even though one bidder had entered $25, because all bidders pay the same
price. However, if the first bidder entered $25 early, and 5 others bid
$25 later, then the early bidder and only 4 of the later bidders would
win. In case of equal bids, the earliest bids win. Thus, if there
are 5 items for auction, then the 5 highest and earliest bidders win, but they
all pay the lowest winning bid price. Thus, the best
strategy is to bid your maximum price right away. Remember, you may
actually pay less than your bid, and only as much as demand allows.
Some auction venues allow bidders to
specify a bid as well as a quantity they want to buy. However, Videogon's
Dutch auctions limit bidders to one item each, so that more people have a chance
to get good deals.
Currently we are testing Dutch auctions
through the Videogon Dealers only, but all members may bid on Dutch
auctions.
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| Reserve
price Auction |
| Sellers may declare a
reserve price that is higher than the opening bid of their auction. If the
bids do not meet or surpass the reserve price, then the seller is not obligated
to sell the item. Likewise, if the reserve price is not met, the high
bidder is not obligated to purchase the item either. The purpose of a
reserve price auction is to allow the seller some safety, in case the market
value is considerably below expectations. If the reserve price is not met,
then the seller and bidders are free to negotiate after the auction, but are not
obligated to transact.
Bidders will always know if there is a
reserve price, and whether the current bid has met the reserve. However,
the actual amount of the reserve price is not revealed to bidders.
Some sellers are willing to reveal their reserve price either within the
listing, or via email. However, sellers are in no way obligated to reveal
their reserve price, either during or after the auction.
Sellers can list a reserve price auction
with the same form as a straight auction, simply by specifying a reserve price
in the appropriate field.
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| Fixed
Price classified |
| This is a straight forward
classified ad. The seller has a firm price in mind and probably will not
sell for less than the asking price. Interested buyers should contact the
seller only if they are willing to pay the asking price, or something very close
to it. Buyers who think the price is too high should wait to see if the
seller relists the item with a lower price, or changes the specification to OBO
- "Or Best Offer".
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| Best
Offer Classified |
| Sellers may submit an
asking price but be willing to consider offers. If specified as
such, the seller's listing will display "obo" next to the asking
price, to signify "or best offer". Interested buyers should
contact the seller with an exact offer, specifying who pays shipping costs and
what form of payment is being offered. If two buyers make offers for the
exact same dollar amount, the seller may be prefer the offer with a certain type
of payment, for example.
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Wanted
to buy - "WTB" |
| This is a simple listing
for buyers to specify what they are looking for. Videogon separates
the WTB ads into their own category, rather than mixing them in with the For
Sale ads. Buyers may enter a price that they are willing to pay, but they
are not required to do so. Interested sellers should contact the buyer
with specific information on their item, including age, condition, warranty
status, etc.
Buyers, post a WTB
ad here.
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| How
members contact each other |
| The initial contact between
two members is handled via the Videogon website. Click on the "send
email" link that will be found in each listing. When you first send
an email to a seller, you will not be given the seller's email address.
Instead, the seller will be given yours, and will respond directly. At
this time, both members will have each other's email addresses, to continue
negotiations via direct email.
If you need to contact a member that does
not have an active listing on site, then you may use the Member
Directory to send an email.
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| Got a question
we missed? |
| If you would like
clarification on any of the above answers, or have a question that we have
missed, please contact us, and we
would be happy to email promptly. If you have a specific auction you are
asking about, please include at least the title of the auction or the item
number in your email.
Have a suggestion? Please contact
us. We would greatly appreciate any comments or suggestions you
might have.
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