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Auction Description
Pre-auction Preparation
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Payment of the Security Deposit
Payment method for the security deposit is online payment. Make sure the amount in your account is higher than the deposit amount and pay the security deposit before the auction starts. However, due to force majeure factors such as network issues, or delays in payment account, etc., it is recommended that you complete the payment operation at least 1 hour in advance to avoid missing the auction due to any exceptional problems.
Participate in the Auction
Bidding can be conducted after the auction starts and before the countdown timer ends. The minimum bid for each bid must be higher than the current bid. During the bidding process, the amount in your account will not be deducted.
Successful Bidding and Payment of the Outstanding Balance
After a successful bidding, please proceed to pay the outstanding balance. The outstanding balance can be viewed in your email box or in the unpaid column.
Payment Deadline: Within 48 hours after the auction ends.
Payment Method: Pay according to the order (if you need to pay offline, please contact the customer service department).
Commodity Delivery
After receiving the outstanding balance, we will arrange and ship the goods.
Note: Failed Bidding (including bids, no bids)
The deposit will be automatically refunded to the original payment account within 1-2 workdays after the auction ends.
Bidding Rules
1. Bid Rules: The first bidder can bid at the starting price or at an integral multiple higher than the bid increment.
Example: The starting price is $200, and the increment is $50. The first bid can be $200, $250, $300, and so on.
2. 5 Minute Rule: If a bid is placed within 5 minutes before the end of the auction, the auction closing time will be extended by 5 minutes based on the scheduled bidding time. This cycle will repeat until no further bids are placed.
3. Auction Cycle: An auction has a fixed bidding cycle, and it will not end prematurely even if there are no bids for a long period of time.
4. Transaction Rules:
Before a transaction is completed, it is needed at least one person to register and place a bid.
For example: Let's assume the auction time is from 10:00 to 12:00, and the regular closing time is 12:00.
If a bid is placed at 11:58:10, the auction time will be extended by 5 minutes to 12:03:10(11:58:10+ 00:05:00), and this extension will continue until no further bids are placed within the 5-minute period.
Penalties for Auction Violations
In order to protect the rights and interests of other bidders in normal auctions, the buyer who engages in malicious bidding and refuses to pay the outstanding balance after winning the bidding must bear corresponding responsibilities (including a deposit fine in accordance with the public announcement), comply with platform rules, and accept the associated consequences (including being prohibited from participating in any auctions within 7 days).
