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Automatic Bidding-
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Use auto-bid to place bids at the lowest possible winning increments.
You enter the highest amount you are willing to pay; the computer
automatically places bids for you at the lowest increment needed to
win your item at the lowest possible price.
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Bid-
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A one time bid entry for an item. This bid is not used in proxy
bidding.
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Bid Increment-
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This is the amount by which you must increase your bid over the
current high bid. Sellers set the bid increment when they create the
auction.
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Bidding-
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The act of placing a bid on an auction item.
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Bulk Loading-
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Listing a group of different items in separate batches all at once
using an online auction site's bulk loading tool.
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Dutch Auction-
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An auction format which accommodates a seller with multiple identical
items for sale. The seller specifies the minimum price (the starting
bid) and how many items are available. Bidders specify the number of
items they want and how much they bid for each one. The final price
is determined by the lowest bid among all the winning bidders. The
highest bidders are always guaranteed an item, but at the lowest bid
price.
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Change Registration/Password-
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This is used to change parts of your user profile, such as email
address, mailing address and password.
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Featured Auction-
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Prominent listing on the home page and category pages of an auction
service, for which listers pay a premium.
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Feedback-
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Comments of buyers and sellers about their experience with specific
other buyers and sellers are invited by the auction services and
cannot be removed or changed once submitted. The theory is that this
motivates everyone to be on his or her best behavior.
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Feedback Padding-
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Fraudulent positive feedback about a user and his auctions. Sometimes
over-zealous sellers cross the line of propriety by padding their
online feedback files in expectation of improving their sales. Very
bad!
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Feedback Rating-
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Both sellers and buyers are encouraged to rate the people with whom
they conduct transactions as to value, service, courtesy, and general
satisfaction. These ratings cannot be removed or changed, once
submitted, and they're easily accessible to all users. Your feedback
can positively or negatively influence sales success. If your buyers
give you a high rating, potential future buyers are more apt to give
you their business as well.
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High bidder-
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The participant who bids the greatest amount.
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Hot Items-
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Auctions, which get a large number bids, are placed in the Hot Items
section. A Hot Items icon also appears in regular listings, search
results, and other miscellaneous pages.
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HTML-
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Short for Hypertext Markup Language. A Hypertext document format used
on the World Wide Web. HTML utilizes Tags, which are embedded in the
text to format the document to be viewed by a web browser.
Exonumia Auctions handles the HTML automatically when you place HTML
in the Description Field as you create the auction.
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Length of Auction-
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The number of day's people can bid on your auction. Most auctions are
open for at least a week or two to allow buyers to locate and bid on
the item. The seller determines the length of the auction when they
create the auction.
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Maximum Bid-
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The highest price a buyer will pay for an item, submitted in
confidence to our automated bidding system to facilitate proxy
bidding.
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Minimum Opening Bid-
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The seller stipulates a minimum opening bid, which sets the opening
price given in your listing when it first goes online and before
there are any bidders. This amount should not be as high as the
hidden "Reserve Price," if you have one. Many sellers believe it
works to set your Opening Bid as low as possible - $0.01.
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Outbid-
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To submit a maximum bid that is higher than another buyer's maximum
bid.
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Picture Hosting-
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If you have pictures in your listings, they must be stored somewhere
on the Web, accessible through their own unique URL (or web address).
You scan and upload the picture to your server then, enter the URL of
the picture when you create the auction.
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Post-
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The act of publishing a listing to an online site.
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Proxy Bidding-
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Placing a maximum bid, which is held in confidence by
Exonumia Auctions. Exonumia Auctions will use only as much of the
maximum bid as is necessary to maintain the bidder's high bid
position.
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Ratings and Feedback-
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Exonumia Auctions makes it possible to offer feedback on both
sellers and buyers. This allows the whole auction community to know
if a participant has had a positive or negative experience with
another member. Members may offer feedback in the form of a number
rating as well as a verbal comments from the User Feedback Page.
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Register-
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In order to participate in Exonumia Auctions auctions, whether as
a bidder or seller, you need to register. Registration is free and
required. Your information is private.
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Registered User-
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A person who has registered as a member of Exonumia Auctions.
All online auction services require registration prior to buying and
selling. There is usually no fee or other financial commitment
required to be a Registered User.
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Re-listing-
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The re-listing of an item by a seller after it has not received any
bids or met its reserve price.
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Reserve Bid-
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When a seller sets a Reserve Bid amount they are stating that this
value, which is not disclosed to the bidders, except to announce
whether the Reserve Bid has been met, is the lowest bid that they
will accept as a successful auction. As a Seller this allows you to
set a minimum amount that you will sell your item for. You should be
aware that setting your Reserve Bid to high would result in you item
not selling.
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Reserve Not Met-
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Reserve not met means that no one has yet bid as much as the minimum
price that the seller will accept.
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Reserve Price-
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The lowest price at which a seller is willing to sell an item.
Bidders never see the reserve price. A seller might indicate a
reserve price if they are unsure of the real value of the item and
would like to reserve the right to refuse to sell the item if the
market value is below a certain price. If an item has a reserve
price, that will show on auction page. Conventional wisdom says that
buyers prefer auctions that have "No Reserve," and that you will
attract more bidders if you don't list a reserve price.
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Registration Agreement-
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The registration agreement outlines the terms of use for
Exonumia Auctions. All registered users must agree to these terms
before they can place an online bid.
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Shill Bidding-
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The deliberate placing of bids to artificially drive up the price of
an item. This is also know as "bid padding" and is not allowed.
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Sniping-
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Out-bidding other buyers in the closing minutes or seconds of an
auction. This is a perfectly legitimate and sensible tactic for
buyers who spot something they're interested in, but don't want to
prematurely up the price early in the auction. They wait, then pounce
at the last minute. You shouldn't be upset if there isn't much action
on your listing in the first days. On the last day, in the last hour,
and in the last seconds, there could be a lot of activity and rapid
escalation to the final winning bid.
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Starting Price-
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The mandatory starting bid for a given auction, set by the seller at
the time of listing. [Same as Minimum Opening Bid.]
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