What is Proxy Bid?

Proxy Bid is to win the auction item at the lowest possible price by placing bids on it at the lowest possible increments up to a maximum amount you set.

Basically you enter the highest amount you are willing to pay and the system will bid on behalf of you as prompted by other bids. If any bidder outbid you, our system will intimate you by email.

You can use the proxy bid feature if you are unavailable to bid at the time of auction closing, For example you can set your max bid to $100, and if the other bidders only go up to $40, you would win the item for $41. If someone bids higher than $100, then you would lose the auction.

 

Do you use shill bidders to increase the price or do you have to pay for every bid?

No! We are not a “penny auction” or “bidding fee auction” site. There is no cost to bid, and we do not use fake/shill bidders to increase the pricing. You can use the proxy bid feature if you are unavailable to bid at the time of auction closing, you can set your max bid to $100, and if the other bidders only go up to $40, you would win the item for $41. If someone bids higher than $100, then you would lose the auction.

Your site requires my credit card info when I submit my first bid. How do I know it is safe?

A:  In order to protect the integrity of the online bidding process, we only accept bids by those bidders who have a valid credit card on file.  Verification of the credit card is also a process of validating the bidder’s identity, so that every seller knows they have bids from a real human and not a computer, and every bidder knows they are bidding against a human. We understand that some of you may be hesitant to provide this type of information. In fact, DownsizeSale does NOT store credit card info on our system. We use stripe.com, one of the largest online payment processor, and they handle the storage and payments directly upon auction closing. Not like other online auction auction companies in Regina, no credit card data is stored on DownsizeSale’s web server, instead the customer billing data is sent to Stripe and stored with them, and a token is returned and stored in DownsizeSale’s web server. This token will be sent to Stripe when buyer makes online payment next time without providing credit car info again.

How do you calculate incremental increases?

It all depends on the estimated value of an item. for example:

items that start bidding for 10$ have incremental increases of 1$.

items that start bidding for 100$ have incremental increases of 10$

items that start bidding for 1000$ have incremental increases of 100$

Its very simple! in some cases the rates may be different depending on the item and the clients needs.

Let us know!

Why was I outbid by an amount less than the minimum increment?

Since all bidders have the ability to place a Bid, you may occasionally find that you have been outbid by an amount that does not seem correct. For example, if your Bid was $8, yet you lost an item to another buyer who won for $10, here’s why: At 12:01 PM, Lot 1 is at $4. At 12:30 PM, Bidder 1 (yourself) places a Bid for $8. Bidding continues and at 12:45 PM, lot 1 is at $7. At 12:46 PM, Bidder 2 places a Bid of $10. Bidder 2’s bid is accepted since it is above the $2 minimum increment at the time (since the lot was at $8), and it also outbids your bid of $10. As another example, if you place a Bid of $25 when lot 2 is at $15, why did the bid jump to $23.50?The other bidder had a $22.50 Bid which is why when you put in the $25 Bid, it jumped to the next $1 increment from the $22.50 Bid to $23.50.

Be smart!

Is it possible to cancel or retract a bid?

If you have clicked and agreed to the terms and conditions then confirmed and submitted the bid, it cannot be retracted. Because bids are permanent, and that would ruin the bidding process.  when you bid you are given a chance to cancel the bid through the second confirmation question, you must not agree to a bid if you are not sure. Please review and read the messages before clicking ‘confirm’ on anything as it will verify the command that’s being placed whether its a bid or personal information input.

Winning anyways!

What does the downsizesale contract involve?

This is an agreement to give Downsizesale the authority to sell your items for a fee on your behalf. it details the responsibilities of the participating parties and a time-line of task completion based on our proven model.

Lets get started!

How do I follow or unfollow an item?

If you see an item that you like, and want to save it to quickly get back to later – simply click on the star icon on the top right corner of the item’s image. This can be done from the items image or the auction page. The star will now be purple as a confirmation. items that you bid on will be automatically add to your “Following” list. To view all of the items that you have been following or bidding on so far, simply click the account tab and visit your “Following” list. You can unfollow items by clicking on the “star” then unfollow.

Looks nice!