Auctioning

[diesel]

Auctioning

You are permitted to make a silent auction when selling your sigs. This means members bid a number of SBP to you through PM with the highest bid winning the signature.

The idea of a silent auction is that members or potential buyers will PM the seller with a number of SBP that they would be willing to pay, and the person who gives the highest bid wins the sig.

Members are only entitled to make one bid, and that is their maximum bid they are prepared to make for that sig.

-When starting an auction you must put in the thread title [A].
-You must set a short deadline for bids, somewhere around 2-5 days.
-You must award the sig to whoever bids the highest amount of SBP.

An example of a silent auction (done through PM);

[A] Halo Sig

*posts image with watermark here*

Deadline for Bidding is 2-5 days from now.

Now member1 sends seller a PM with the following;
"I bid 150 SBP for your Halo Sig"

Now member2 sends seller a PM with the following;
"I bid 200 SBP for your Halo Sig"

Now member3 sends seller a PM with the following;
"I bid 180 SBP for your Halo Sig"

Now member4 sends seller a PM with the following;
"I bid 500 SBP for your Halo Sig"

Dead line is up and member 4 wins the sig as they bid the highest amount of SBP.
Now the transaction must be completed. The seller must notify the bidder that they won, and then the buyer must transfer the correct amount of points to the seller before the seller adds the buyers name to the sig.

[+ill. pcktlnt]

Question. If say, two bids end up like this:

Bidder 1 = 200 pts
Bidder 2 = 200 pts

How does that work?

Question 2: bids end up like this:
Bidder 1 = 1000 pts
Bidder 2 = 500 pts
Bidder 3 = 1500 pts
Bidder 4 = 900 pts

What does that mean? Does that mean bidder 3 pays 1500 because they are willing to spend up to 1500? or do they pay 1001, because they had the highest, but the second highest is 1000?

[+dd. `aNime~>kiNg]

how do we kno what to bid?? or just make a random bid?

[+dd. KRS25]

First Scenario: I assume the seller could either choose who he/she wants to sell it to or contact both sellers and tel them to place a 2nd bid.

Second Scenario: Bidder 3 would win and pay 1500. (I'm guessing)

@anime king: Yes, you make a random bid. You must make it high enough that you think it will be higher than other bids, but not too much that you are paying too much for the item. Heck, Person A could bid 200sbp, and then Person B bids 10,000sbp, thats the game and risk you gotta take!

[+ill. pcktlnt]

Hmm, I see. So it is like win it or lose it. Interesting.

[+dd. `aNime~>kiNg]

ok then kwl:P sounds good ty krs

[devan]

ty for clearing that up

[TimSimm2]

one question. lets say you want to bid on a piece but you don't know how much the last person bid so how would you know how much to bid??

[+ill. pcktlnt]

It's basically, bid as high as you would be willing to give. No haggling and no increments apparently. *sad face*

Example: Random sig
- Bidder 1 think it is worth 923, sends PM.
- You think it is worth 500, you send a PM saying you want it for 500
- Bidder 3 think it is worth 400, sends PM

And by the deadline, if no one else bids, the winner would be bidder 1 with a price of 923.

[+dd. KRS25]

Yup, so thats just the luck of the draw.. You will not know how much to bid so you got to bid high enough that you will outbid the others, but not too high that you are overpaying for it.