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How does lowBIDS work?

Find out just how easy it is to save heaps on top brands!


Frequently Asked Questions

lowBIDS Auctions

  1. What are lowBIDS Auctions?
  2. How does lowBIDS Work?
  3. This seems too good to be true. What's the catch with lowBIDS Auctions?
  4. Can I purchase these products directly from you without participating in the auctions?
  5. Who can join and bid? And how much does it cost?
  6. How many items are available in each auction?
  7. Do I get notified when an auction starts or ends?
  8. When does an auction end?

Bids

  1. How many Bids can I submit per auction?
  2. Where can I view the Results and / or Winning Bid of an auction?
  3. How do I know if my bid was successfully submitted or accepted?
  4. What happens if there are no Unique Bids?
  5. Can I review the auctions I've entered?
  6. How much do I bid?

Fees

  1. What and how much is the Administration Fee?
  2. When will I be charged my Administration Fee?
  3. What are the cancellation terms and do I get refunded?

Shipping/Payments

  1. Are their any Shipping or Transport costs?
  2. How do I know that your website is secure enough to give you my Credit Card information?
  3. I don't have a credit/debit card or a PayPal account. Can I pay using another method such as cheque or direct deposit?
  4. How do I receive the product if I am the successful bidder?

lowBIDS Auctions

1. What are lowBIDS Auctions?

lowBIDS Auctions are where products are placed on auction with the following rules:

  • Bidders are asked to place their bid, a bid which they think no one else will duplicate, and the successful bidder will be the one with the LOWEST UNIQUE BID.
  • An Administration Fee is charged per bid.

2. How does lowBIDS Work?

The variation from the traditional style auction system is the auction result is awarded to the Lowest Unique Bid when the predetermined Required Number of Bids has been met and the auction is closed. Each Bidder is required to pay an Administration Fee in order to place a Bid. This is best illustrated with the following example:

Apple iPod Shuffle 1 gig - Recommended Retail Price : $199
Required. No. of Bids : 200
Administration Fee : $2.75
At the end of the auction the lowest ten bids may look like this :

Bid 1: $0.01
Bid 2: $0.01
Bid 3: $0.02
Bid 4: $0.02
Bid 5: $0.02
Bid 6: $0.03 Lowest Unique Bid
Bid 7: $0.04
Bid 8: $0.04
Bid 9: $0.05 Unique, but not the lowest
Bid 10: $0.06

Bid No.6 is the Lowest Unique Bidder and is awarded the auction result and would have to pay only 3c. He/she has therefore purchased an article for $3c (Bid Amount) + $2.75 (Admin Fee) = $2.78 = 1.4% of the Retail Price ($199)!

3. This seems too good to be true. What's the catch with lowBIDS Auctions?

You really can purchase products for a fraction of their normal retail price however you need to pay a small non-refundable Administration Fee per bid that you place. Note that you are not guaranteed to purchase the item on auction for the amount that you bid - only if your bid is the Lowest Unique Bid will you be the successful bidder in the auction.

4. Can I purchase these products directly from you without participating in the auctions?

No. You cannot purchase any of the products directly. You must participate in the auctions.

5. 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, but there is a Administration Fee for each bid placed. Administration Fees vary depending on the value of the product.

6. How many items are available in each auction?

There will be a quantity of one item available per auction, unless otherwise stated.

7. Do I get notified when an auction starts or ends?

We do not send out notifications when an auction starts. All participating members are however notified by email when an auction has ended.

8. When does an auction end?

An auction ends when the Required Number of Bids has been received.

Bids

1. How many Bids can I submit per auction?

Each Member may submit as many Bids per auction as they wish, provided they have paid the administration fee for each Bid and the Required Number of Bids for that given auction have not been received.

2. Where can I view the Results and / or Winning Bid of an auction?

The results are announced immediately upon the successful closing of an Auction. The successful bidder with the lowest unique bid will be highlighted. Note: you may have to go through all the bids received. All participants are notified by email when the Results are posted on the site.

3. How do I know if my bid was successfully submitted or accepted?

You will be notified by email as soon as your Bid has been accepted or submitted into our database.

4. What happens if there are no Unique Bids?

If there is no single lowest Unique Bid then the successful bidder is determined by the Lowest Bid Amount with exactly 2 Bids placed and where the bidder bid first.

5. Can I review the auctions I've entered?

Yes, by clicking on the bidding history link in the members area.

6. How much do I bid?

Bid the price that you think will be the unique lowest bid, remember it isn't the lowest bid that is successful - it is the Lowest Unique Bid.

Fees

1. What and how much is the Administration Fee?

The Administration Fee is an amount charged for each Bid placed on a particular auction. Each fee is indicated on the auction description page. This fee is non-refundable.

2. When will I be charged my Administration Fee?

Administration Fees are charged from your Members Account balance immediately upon the submission of a bid. Bid amounts will only be charged to the successful Bidder upon the closing of the auction for a given item.

3. What are the cancellation terms and do I get refunded?

Participants are not permitted to cancel bids once they have been accepted. The Administration Fee is refunded only in case of an unsuccessful auction.

Shipping/Payments

1. Are their any Shipping or Transport costs?

Shipping and Transport is free to Members with a valid Australian delivery address, unless otherwise stated.

2. How do I know that your website is secure enough to give you my Credit Card information?

We use the highest industry standard levels of security to ensure that your information is protected. This includes, but is not limited to, SSL encryption for the transfer of sensitive information over the Internet, multiple levels of password control and firewall access to our systems.

3. I don't have a credit/debit card or a PayPal account. Can I pay using another method such as cheque or direct deposit?

We only accept payment with a valid VISA and MasterCard, and by Direct Deposit through PayPal. We do not accept any other methods of payment. A PayPal account can be easily set up at no charge by going to www.paypal.com.au

4. How do I receive the product if I am the successful bidder?

Upon receipt of payment for the amount of the successful bid, the item will be shipped to the address on record for the successful Bidder within ten business days, unless otherwise stated in item description. If the item is on backorder with stockist, item will be shipped as soon as backorders are filled. All items will be shipped via a carrier of lowBIDS choosing.