Bidding is a fun way to purchase items and everybody enjoys winning. It’s important to keep in mind that once you have placed a bid you are engaging in a binding contract to buy the item if you win.
How it works
As the auction proceeds, your bid is measured against those of the other bidders. If you are outbid by another member you will be notified by email and you will have the chance to enter a new bid if the auction is still ongoing. Note that there is no limit on the number of bids you can place.
Auction-style listing starting price is set at $10.00
Bidder A decides to place a bid of $25. Take note that this amount cannot be lower than the current or starting bid. If the bid does not meet or exceed the reserve price set by the seller it will be indicated in red.
Bidder A becomes the highest bidder, note that his bid amount is kept confidential until it is exceeded by another bidder.
Bidder B views the same item and places a bid of $30. The system indicates the minimum amount to outbid the current bid, the bid increments are pre-set and can be found here.
Bidder A’s bid is raised automatically to its maximum of $25. The system will then place a new bid for Bidder B and follow the pre-set increments which are based on the current highest bid.
Bidder A will be sent an email that he has been outbid, If he doesn't raise his maximum bid, and there are no other bidders, Bidder B wins the item.
Automatic or Maximum Bidding
Your bids are only increased to maintain your position as the highest bidder and follow the pre-set increments which are based on the current highest bid. This ensures that if you win the auction you will either pay the maximum amount you previously decided for the item or less.
Maximum bids are always kept confidential from other bidders and under no circumstance will the Swappy software exceed the bidder’s maximum amount bid.
In the event that another bidder places an identical maximum bid as yours, you will be notified by email so you can place another bid.
If the seller has opted to include a reserve price to his auction and your maximum bid is at least the reserve price, Swappy will automatically increase your bid to meet the reserve. Bidding will continue from the reserve price thereafter.