How to win an Auction?

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Choose your own bidding style.

jak-grac-1The starting price of every auctioned item is $0. The price increases by a set amount with every Bid. The cost of placing a single Bid at an Auction is specified on the “Bid” button (e.g. “Bid x 3”), and the Bid increment is always visible on the Auction detail page (e.g, “Bid increment: $0.003”). Also displayed on the Auction detail page is the current Time to Bid, in seconds (e.g. “Time to Bid: 15s”).

Bid manually or with Autobid. Develop your own strategy!

Manual bidding

jak-grac-2To bid manually, press the”Bid” button. The number displayed on that button indicates how many BIDs will be deducted from your Account each time you place a Bid. Be sure to always check the cost of one Bid at a given Auction. For example, “Bid x 6” means that every Bid will cost you 6 BIDs. The person who placed the most recent Bid is the Current Winner – their Username is displayed below the Current Price. Every Bid resets the clock counting down the time remaining until the end of the Auction. The Time to Bid may change during an Auction – the longer bidding goes on, the shorter the time to place Bids. The current Time to Bid is always shown on the Auction detail page (e.g “Time to Bid: 15s”). An Auction ends when no higher offer is made within the specified Time to Bid and the countdown clock reaches 00:00:00.

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Autobidding

jak-grac-3Autobidding is governed by the same rules as manual bidding. The difference is that Autobid places your Bids in the very last seconds of the Time to Bid, and continues to operate even if you are not signed in. The minimum number of Bids to which Autobid can be set is specified in the Autobid setup box. Autobids place Bids in the order in which they were set (or changed). Please keep in mind that once you turn Autobid on, you cannot turn it off. You can only change the programmed number of Bids. Autobid will suspend bidding if you run out of BIDs or reach the Auction win limit. When you recharge your Account, and providing the Auction isn’t over yet, Autobid will resume bidding using the newly purchased BIDs.

Setting up Smart Autobid

If you want to be sure that your Autobid starts bidding the moment when there is only one participant left in the Auction, set up Smart Autobid. Were it not for Smart Autobid, such an Auction would just end. Turning on Smart Autobid carries an extra fee (in BIDs). The BIDs will be deducted from your Account when Smart Autobid activates.

Smart Autobid can be turned off prior to placing its first Bid. Upon activation, it turns into simple Autobid and continues operating according to the simple Autobid rules outlined above. You can read more about the Autobid tool HERE.

Everyone has an equal chance. The ranks of winners continue to grow!

Auction win limits

You can win up to five item Auctions within any 30-day (720-hour) period, and one BID pack Auction every day (24 hours). “Buy It Now” purchases do not count towards the win limits. The limit is calculated separately for every won Auction, on a rolling basis. After reaching the limit, your access to the given Auction type is automatically blocked. The block prevents you from spending your BIDs on an Auction you would not be eligible to win at the moment.

To see the current limits and their expiration dates, sign into your Account and click the “Win Limits” button in the menu bar at the top of the page. You can find more information about limits HERE.


Author: wellbid

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4 Comments

  1. Does it cost you to bid even if you don’t win the auction?

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    • Wellbid is a pay-to-bid site. A small fee is charged for every bid you place, regardless of the outcome of the auction.

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