The bid increment is the amount by which a bid will be raised each time the current
bid is outdone. It is predetermined based on the current high bid. Here is how increments
are determined:
|
Bid Increments |
|
Current Price |
Bid Increment |
|
$0.01 - $0.99 |
$0.05 |
|
$1.00 - $4.99 |
$0.25 |
|
$5.00 - $24.99 |
$0.50 |
|
$25.00 - $99.99 |
$1.00 |
|
$100.00 - $249.99 |
$2.50 |
|
$250.00 - $499.99 |
$5.00 |
|
$500.00 - $999.99 |
$10.00 |
|
$1000.00 - $2499.99 |
$25.00 |
|
$2500.00 - $4999.99 |
$50.00 |
|
$5000.00 or more |
$100.00 |
Note: A bidder may be outbid by less than a full increment. This would happen
if the winning bidder's maximum bid beats the second highest maximum by an amount
less than the full increment.
- A bid increment will go higher than the standard increment in two situations:
-
To meet the reserve amount
- To beat a competing bidder's high bid
If you were bidding against another bidder's maximum bid, your bid had to meet the
other bidder's maximum bid plus one cent to become the current high bidder on the
item.
Bid carefully - retractions are rarely allowed
When you are the winning bidder, you are obligated to pay the high-bid
price for the item. As a rule, retracting bids is not allowed on MotoYard.
Remember that all bids on MotoYard are binding. It will be
completely to MotoYard's descretion to allow a bid retraction.
Exceptional Circumstances Only
There are, however, a few exceptional
circumstances (described in the
User Agreement)
under which you may retract a bid. These are if:
- You made a typographical error and
entered the wrong bid amount. For instance, you bid $99.50 instead of
$9.95. Please review the retraction guidelines if you need to retract
your bid.
- The description of an item you have
bid on has changed significantly.
- You can't reach the seller. This means
that you tried calling the seller but his or her phone number doesn't
work, or you have tried emailing a message to the seller and it comes
back undeliverable.
- Someone has bid on an item using your
User ID and password.
Timing Matters
There are special rules about retracting bids, depending on when you
originally placed the bid.
If you place a bid before the last 12-hours of the listing: You may
retract that bid before that last 12-hours, if your situation meets the
above description of exceptional circumstances. You will not be allowed to
retract that bid during the last 12-hours of the listing.
When you retract a bid before the last 12 hours of a listing: you
will eliminate all bids you have placed on that item. If you are
correcting a bidding error, you will have to bid again.
If you place a bid during the last 12-hours of the listing: You may
retract the bid only within one hour after placing the bid (in exceptional circumstances).
When you retract a bid within the last 12 hours of the listing: You
will eliminate only the most recent bid you placed. Bids you placed prior
to the last 12 hours will not be retracted.
If you are not allowed to retract your bid during the last 12-hours of the
listing, you may contact the seller to request that your bid be canceled.
The seller will have the discretion whether to cancel your bid.
Accountability
Your total number of bid retractions in the past six months is displayed
in your member profile.
MotoYard will thoroughly investigate bid retractions. Abuse of this
feature may result in the suspension of your account. Bids retracted
within the last 24 hours of listing can be viewed as bid shielding, which
is a serious violation of our policy.
How To Retract a Bid
To retract a bid, use the
Bid Retraction form.
Note: There is no equivalent for bid retraction in Buy It Now
listings. Once you've confirmed your purchase, you are obligated to pay
the seller
|