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QXL Max Bid - Auctions

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QXL Max Bid - Auctions

QXL MaxBid - Bids are kept secret during the course of the auction, the number of bids that will be accepted is limited per auction and the winner is selected by the highest unique bid once the maximum number of bids has been reached

Who can join and bid? And how much does it cost?
» Anyone above the age of 18 can join. There is no cost for joining.

QXL MaxBid Auctions are where products/services are placed on auction with the following rules:

There is a Maximum Bid Amount or MaxBid for the auction.
There is a Required Bids or Maximum Number of Bids that will be accepted for the auction (or per item in the case of multiple item auctions).
An Administration and Handling Fee or Admin Fee is charged per bid.
Whilst the auction is open all bids are kept secret.
Once the auction closes the bidder with the highest Unique Bid is eligible to purchase the product/service at their bid amount (provided that this Bidder answered all the Qualifying Questions correctly).
If multiple items are available for the auction, then each bid will be allocated to one of the items and a winner will be selected for each item (i.e. the highest unique bidder per item).

Icons and other Terms used on this site:
Closing Soon:
This indicates that the number of bids on the auction has exceeded 75% of the Required Bids or Maximum Number of Bids (for each item in the case of multiple item auctions).
New:
This indicates that the Auction has recently been put up.
Active Bidding:
This indicates that the bidding has started and is not yet Hot on this Auction.
Hot:
This indicates that the number of bids on this Auction received so far is more than 25% of the Required Bids.
Quickie Auction:
This indicates that the auction is a Quickie Auction and is generally open for a shorter period of time.
Features:
There is no Required Number of Bids, instead there is a Maximum Number of Bids.
There will be no extension and the auction will close on the End Date, regardless of the number of bids received.
If the Maximum Number of Bids is reached before the End Date, then the auction will close.
MaxBid:
This is the term used on all QXL MaxBid auctions to indicate the Maximum Bid Amount. A bidder may not place a bid higher than this amount.
Required Bids:
This is the Required Number of Bids that an auction needs to receive in order to close (applicable for each item in the case of multiple item auctions). Should this number not be reached by the End Date of the auction, the auction may be extended.
Max Bids or Maximum Number of Bids:
This is the term used in Quickie Auctions where there is no Required Bids. If this number is not met, the auction will end on the End Date and will not be extended (applicable for each item in the case of multiple item auctions).
End Date:
This is the specified date on which the auction will close. The End Date of an auction may be extended if the Required Bids is not met (but cannot be extended for Quickie Auctions).
Max Bids Per Bidder:
This is the maximum number of bids a bidder is allowed to bid on a specific Auction.
Unique Bid:
From all the bids received for a particular item, the system cancels out all equal bid amounts and selects those that are different from the rest of the bids. These are regarded to be Unique Bids. A winner is then picked from these Unique Bids.
In the example below, Bid numbers 5 and 8 are Unique Bids because all other bids appear at least twice.

Bid 1: £20.00
Bid 2: £20.00
Bid 3: £19.99
Bid 4: £19.99
Bid 5: £19.98
Bid 5: £19.97
Bid 6: £19.97
Bid 7: £19.97
Bid 8: £19.96
Bid 9: £19.95
Bid 10: £19.95
Highest Unique Bid:
This is the Winning Bid of an item. It is the Highest Bid Amount received amongst the Unique Bids for an item.
In the example below, Bid number 5 is the Highest Unique Bid and is the Winner.

Bid 1: £20.00
Bid 2: £20.00
Bid 3: £19.99
Bid 4: £19.99
» Bid 5: £19.98 «
Bid 5: £19.97
Bid 6: £19.97
Bid 7: £19.97
Bid 8: £19.96
Bid 9: £19.95
Bid 10: £19.95
Admin Fee:
This is the Bid Fee or the Administration and Handling Fee that is specified for an auction, applicable to every bid made. Provided a winner is selected this fee is non-refundable.
Retail:
This is the Recommended Retail Price or the market value of the product. QXL MaxBid offers the chance to win a product at less than 20% of this amount.
Item:
A single QXL MaxBid Auction may consist of one or more identical Items. The number of Items available is indicated by Quantity Available.
Quantity Available:
Indicates the number of items available for a particular auction or worded another way it indicates the number of winners that there will be for a particular auction.
For example, If an auction has a Quantity Available of 3, your bid(s) placed will be allocated to one of these 3 items (all your bids placed in the same instance will be allocated to the same item). Should the Auction end successfully, a winner will be selected for each of these 3 items, thereby guaranteeing 3 winners.
Bid Reference:
This is the Reference number to check up on when an auction is over to see if you are the winner.
This number is sent in the bid confirmation mail you get after bidding on an auction.

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