Welcome
Coming Soon!!
E-Bidnowvirginia
Dixon's Unique Reverse Auctions
What is
E-bidnowvirginia.com Unique Reverse Auctions?
It is an auction with a twist, where the lowest unique bid
wins, not the highest. This means YOU have to place what
you think will be the lowest unique bid in cents or dollars that
no one else will place.
The minimum you can bid is .01 cent up to a maximum bid of $1000.00
The Auction will run until the Final Number of bidders needed to complete the auction bids is reached.
All Bidders will be posted for each item with their Lowest Unique Bid and you will be told at the end of the auction whose bid was unique. The person who enters the lowest unique bid will win the auction.
How Much
does it cost to enter?
You pay an Auction Service Fee on each item that you
choose to bid on. Each item will have a different fee
depending on the retail cost of the item and how many bidders are
needed to close the auction.
How does it
work?
Registered users place bids on selected items offered
by Dixon's Reverse Auctions through a sealed bid process.
Bidders pay an auction service fee to place their bids in the
auction. Their aim is to place the lowest unique bid, that
is the lowest unique bid in cents or dollars that no one else
will place. Every auction is limited to a specified number
of bids (i.e. maximum bids 150). As soon as that limit is
reached the auction closes. After the auction has closed,
the winner is the bidder who has placed the lowest
unique bid.
How is this auction different from
other auctions?
Lets say Dixon's
will be auctioning a car, house, furniture, jewelry or any item
of value at a live auction, the highest bidder would get the item
and pay the highest winning bid. Lets say the item sold for
$4000.00 plus the 15% Buyers Premium. Dixon's would collect
from the highest bidder a total of $4600.00. By doing the
lowest unique bid, Dixon's would only let the first 46 people in
to bid on this item, with each paying a $100.00 auction service
fee. The person who enters the Lowest Unique Bid
wins the auction and even better, they will not have to pay for
the item because the auction service fee from the 46 bidders took
care of all cost.
What is an
example of how a Reverse Auction works?
A "Reverse Auction" might have the following
characteristics:
Auction Product:
$100.00 Bill
Auction Entry Fee:
$10.00 with 12 Bidders assuming that the
following bids (in cents &
dollars) are received:
| Bid 1 | 1 Cent | Not Unique |
| Bid 2 | 1 Cent | Not Unique |
| Bid 3 |
2 Cents |
Not Unique |
| Bid 4 | 2 Cents | Not Unique |
| Bid 5 | $1.00 | Not Unique |
| Bid 6 | $2.00 | Lowest Unique Bid |
| Bid 7 | 4 Cents | Not Unique |
| Bid 8 | 4 Cents | Not Unique |
| Bid 9 | $1.00 | Not Unique |
| Bid 10 | 50 Cents | Not Unique |
| Bid 11 | 50 Cents | Not Unique |
| Bid 12 | 2 Cents | Not Unique |
The bidder that placed the $2.00 bid would win the auction, as their winning bid was the lowest unique bid that had been placed.
Who is
running E-bidnowvirginia, Unique Reverse Auctions?
Dixon's Auctions, Inc - Licensed and Bonded with 2
Auctioneers; Ed Dixon & Billy Dixon VAAFL #575
How Old do I have to be to bid at auction?
Bidders have to be 18yrs or Older to participate. Winners will have to produce Proof of their age.
Can I place more than One bid?
You can place as many bids as you like, however, please remember that an Auction Service Fee will be charged for each bid that is placed.
Can I take part in more than One Dixon's Reverse Auction at the same time?
Yes
How many bidders are there in an Auction?
The maximum number of bidders that will be accepted for each auction will be clearly stated in the Auction Description Pages and the auction will close once this limit has been reached.
How do I know if my bid was successfully received?
Dixon's will send you an email verifying receipt of your bid and that it has been entered in the auction.
If I place the Winning lowest unique bid, do I have to pay the Winning Bid?
NO
What happens if there are no unique bids?
If there are no unique bids, then the winner is determined by the lowest bid where 2 bids have been placed and the one who placed the lowest bid first wins.
What payment methods can I use?
You can use all major credit cards
What are the cancellation terms? Can I get a refund?
Once an Auction Service Fee is charged and a bid placed, you cannot change your mind and the Auction Service Fee will not be refunded. If the auction is cancelled or postponed by Dixon's Reverse Auctions due to not enough bids to complete the auction, all monies will be refunded within 90 days.
WE
WILL BE POSTING ITEMS
FOR THIS NEW AUCTION FORMAT
IN THE NEAR FUTURE - MAKE SURE YOU KEEP CHECKING BACK FOR
LISTINGS!!
All graphics copyright 1998 Angela M. Cable. Beige Marble is linkware, please direct links to the main page at 5th Street Studio.