INFO ABOUT BIDDING!

Confused about bidding? Read on—-

• How does bidding work? Here’s an example:
  

MDISA has auctions for skatedecks on our website. Jim and Salma decide to bid on a deck.

1. MDISA sets the starting bid at $5. Jim bids a maximum of $25. The current bid is now set at $5.
2. Salma comes along and bids a maximum of $15. But since Jim bid a maximum of $25 he is protected to win till Salma can bid over that.
3. However this also means that Jim’s maximum bid has been outbid till $15. Therefore his current bid will rise to $15.10 to meet and beat Salma’s maximum bid.
4. Salma decides to bid a bit more, she bids $30. Now she is the winning bidder. But her bid will only beat the previous maximum bid set by Jim, which was $25. So her current bid is $25.10, till someone decides to outbid her.
5. Jim gets an email saying that he is being outbid. He may decide to bid more or not. If he does not bid then Salma only pays $25.10 for the deck, unless someone outbids her.

This is called incremental bidding.  Although we suggest that you bid the maximum amount that you’re willing to pay for an item, you could pay less. As the listing proceeds, we compare your bid to those of other bidders. When you’re outbid, we automatically bid on your behalf up to your maximum bid. We increase your bid by increments only as much as necessary to maintain your position as highest bidder. This means you don’t have to re-bid repeatedly in small increments.

At the end of the on-line auction, CURRENT HIGHEST BIDS (not maximum bids) are transferred to paper and delivered to the Silent Auction and Gala on April 12, 2010. Jim and Salma must attend the final paper auction and Gala to continue to bid. At that point all bid amounts are public, and any maximum bids posted during the on-line portion of the auction are no longer in effect. It is not possible to have a hidden maximum bid during the silent paper auction.

In the event that no further bids are placed on Salma’s deck  during the paper auction, MDISA will sell the deck at her highest on-line bid at the time of transfer and not the maximum bid set by Salma.

Bidding is meant to be fun, but remember that each bid you place enters you into a binding contract. All bids are active until the listing ends. If you win an item, you’re obligated to purchase it. Please remember all bids are binding!

• How can I find out if I’m winning an auction?

If you are on the website where the auction is being held, simply refresh the page (if it is displayed in a post) or click the refresh bid icon in the popup window. If you are winning your name and current bid will be displayed on top. Once the auction is transferred to paper for the Gala on August 12, you must be present in order to continue to bid, or have someone bid on your behalf.

• How do I pay for my auction?

MDISA is only able to accept cash or checks at this time. If an on-line bid wins an auction you will get an email from us with payment instructions. Any shipping fees are the responsibility of the winning bidder. Winning bids placed in person on the night of the Gala can be paid by cash or check. All decks must be paid for before leaving the auction  site.

If you have questions about payment please contact us at mdiskatepark@gmail.com.