Name Your Price

All articles are displayed with one starting price that is valid at the outset of an auction. The actual price is concealed until you place a Credit. With each Credit placed, the price decreases, so the actual price is always less than the starting price - often considerably!

As soon as you have registered, you can buy various Credit packages (see load credits).

When you place a Bid(Credit), three things happen:

1. The actual price decreases by 15 US cents
2. You will see the actual current price
3. When the article price reaches the price you want to pay, click "buy Now" you will become the final buyer of the auction!

At the completion of the transaction, you will be charged the shipping fees and price you locked in for the item indicated in the auction.

 
 
Last Bid Wins

All articles are displayed with one starting price that is valid at the outset of an auction. The actual price is concealed until you place a Bid(Credit). With each Bid(Credit) placed, the price decreases, so the actual price is always less than the starting price - often considerably!

As soon as you have registered, you can buy various Credit packages (see Load Credits).

When you place a Bid(Credit), three things happen:

1. The actual price decreases by 1 US cent
2. You will see the actual current price
3. When the article price reaches $0.00, you have become the final buyer of the auction!

At a price of $0.00, you have the possibility to purchase the article. At the completion of the transaction, you will only be charged the shipping fees for the item indicated in the auction.

 
 
Lowest Unique Bid

All auctions are presented for a limited number of Bids only. You can bid using any number of 1-cent increments (i.e. US$0.01, $1.19 , $2.74 etc.). The user who has placed the sole lowest bid acquires the item.

An example: Several bids have been placed for $0.01, $1.18, $1.52, $4.18 and $5.92. The amounts of $1.75 and $4.25 were not yet placed, whereas if you placed the last and only bid in the amount of $1.75, prior to the close of the auction, then it would be both the lowest and sole bid, and is therefore awarded the auction item. However, if another user also places a bid of $1.75 in the course of the auction, this amount is no longer unique. Now, in our example, the $4.25 bidder would be the final buyer, as their bid is now the lowest single bid placed.

It is possible to place single bids, or to cover an entire span of bids. However, in order to guarantee equal opportunity, only single bids will be accepted in the last five minutes before the end of an auction.

 
 
Important Notice:

If an auction does not produce a Lowest Unique Bid at its conclusion, then nobody is the final buyer and the auction starts again. If an auction results in a Lowest Unique Bid at its conclusion, the user with the lowest single bid is determined and then informed by e-mail. The final buyer can subsequently order and pay for the auctioned item in his member area (prices include sales tax, plus shipping charges).Goods are shipped by Bid Shark and their suppliers, Bid Shark is also the recipient of payments; items are sent as as soon as payment has been received.

A single user may only be the final buyer in up to five Bid Shark Auctions in one month. Therefore, once the member has placed five final bids (both lowest and unique), further bids will not be accepted. As soon as this user has been underbid in an auction, the placement of further bids is automatically accepted, until the maximum number of five successful final bids has been attained. Once a user has been successful in an auction, s/he may only participate in a further four auctions, et cetera. The number of successful auctions, as well as the number of remaining auctions available in which to participate, can be accessed at any time in your back office. At the beginning of a new calendar month, the maximum number of five successful auctions is available to you once again. This is indicated in your member area in the form of a stoplight. If the stoplight displays, for example, a “red light”, you can only place a bid again in the next calender month.
 
 
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