Bidding Rules
How Bidding Works at WineBid.com
Bidders at WineBid.com should be aware of the following rules that
apply to bidding. These rules, listed below in order of priority, determine
who will win a particular lot.
- Dollar Amount of Bid
- Bid Quantity (Please see Multiple-Bottle Lots example below)
- Date of Bid
- Time of Bid
Making Bidding Easier
Here are some ways to make bidding easier and more efficient.
AutoBid
With our AutoBid feature you don't have to
keep checking to see if you still have the highest bid. AutoBid will bid for
you. Here's how it works: When you place your bid, type in the maximum amount
you are willing to spend, even though the lot has not yet reached that level.
Our AutoBid feature will then automatically increase your bid as other bidders
bid the lot up. AutoBid will never bid more than the maximum amount you have
indicated.
For instance: If a wine has a reserve of $30
and you are willing to pay up to $50, type $50 in the bid box. Your bid will be
placed at $30 with an AutoBid of $50, and you will win at $30 if no one else
bids it up. If someone else places a bid at $35, your bid is automatically
raised to $35 and you still have the winning bid because your AutoBid was in
place before the competing $35 bid was placed. (The amount AutoBid increases in
response to competing bids is determined by our schedule of bid increments
explained in Wine
and Auctions Terms). If there are no higher bids you are the winner. This
process will continue until the bid amount reaches your specified maximum of
$50. See the "Bidding on Multiple-Bottle Lots" section below for additional
information.
Checking For Identical Lots
It sometimes happens that we have identical
wines consigned from different consignors. This means that sometimes within a
single auction we will have different lots containing identical wine. For
various reasons, bidding may be at different levels on the lots. Before placing
a bid it is a good idea to use our Search or Browse for Wine features to find
other lots that might contain the wines you want. However, you should always
check the full lot description to determine the condition of the wine and its
provenance before placing a bid since this may explain different reserve levels
or bidding activity on identical lots.
Bidding on Multiple-Bottle Lots
Example: If a lot contains ten bottles with a
reserve of $50 per bottle, ten bidders may each bid $50 on a bottle during the
first several days of the auction. At that point, if there are no more bids,
each bidder will win a bottle at $50. But, if a bidder comes in later during
the auction and bids $50 per bottle for all ten bottles, he will win all the
bottles at $50 a bottle. If the late bidder bids $50 on only five of the ten
bottles, he will win five bottles from the most recent five single-bottle
bidders. Early bidders have an advantage over later bidders assuming the dollar
amount or quantity of the bid does not increase. In this example, if your
single-bottle bid of $50 is outbid by someone buying several bottles at $50,
even though you made your bid first, you will have to increase your bid dollar
amount or increase the quantity of bottles in your bid in order to get back
into the auction.
Please note: If you have placed an AutoBid on
a multiple-bottle lot and you are outbid on even a single bottle, your AutoBid
will automatically increase your bid on all the bottles on which you have bid.
For instance: If you have a winning bid of $50 per bottle on a lot of 5 bottles
and have set your AutoBid at $70 per bottle, and someone else places a bid of $55
on one of the bottles, your AutoBid will automatically increase your bid to a winning
bid of $55 on each of the 5 bottles.
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