Frequently Asked Questions
- Can two people bid on the same BidBlock/Price?
- What is a HyPersense Auction?
- Do I have to bid to participate?
- Can I change my bid?
- Can two people bid on the same BidBlock/Price? (top)
- Yes. Two or more people can bid on the same Bid Block/Price. The winner is determined in FIFO manner, meaning if you were the first on that block, you'll get priority and win the auction. If it is a multiple item auction, 3 laptops for instance, and there are 4 people on the $200 block, then the first three (assuming they only want one each) will win. The last guy will not make the cut. Of course, if the last guy really wants that laptop, can bid in the $201 block, thereby putting him above the other three on the $200 block.
- What is a HyPersense Auction? (top)
- A HyPersense Auction is merely a standard Persense style auction but set up with
a very high pace. To qualify as a HyPersense auction, the seller must construct the sale
- The pace is greater than or equal to 1% per minute and
- The price floor is at least 50% less than the starting price and
- Each step is less than or equal to 10% of the starting price
- Do I have to bid to participate? (top)
- No, you are not required to bid! If you wish to purchase an item, you can always 'Buy It Now or wait for the price to reduce to a level you find appropriate. In fact, it you may employ it as a strategy - so that your intentions are hidden, allowing you to 'snipe' the sale and purchase away from other interested buyers.'
- Can I change my bid? (top)
- Yes! you can always change or delete your bid as long as your current bid BidBlock has not been reached (which would mean that a sale was struck). Persense is the least restrictive auction site in this regard.