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| Straight Auction |
| This is the traditional auction for a single item, where the seller sets
an opening bid and a duration of the auction. If there are any bids at or above the
opening bid, then the high bidder at the close of auction wins the item. The seller
is obligated to sell the item to the high bidder for the winning bid price, and the high
bidder is obligated to purchase the item. Please note that shipping costs are
usually payable by the bidder, in addition to the bid price. Sellers are asked to
specify who will pay shipping costs when listing an auction. Sellers:
list an
auction here. Top |
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| Dutch Auction |
| Multiple items
selling within one auction listing, with multiple winning bids. Seller
declares an opening bid, and how many items are available. All items must be
identical, including finish, age, and condition. Thus, Dutch Auctions are
best suited for special promotions of new products. All winning bidders pay the same
price, which is
the lowest winning bid. If there are more items than interested bidders, than each
bidder wins one item at the starting price. If there are more bidders than items,
then the price starts to rise. Winners are selected by highest bid first, then by
the earliest entries in case of equal bids. Below are some examples.
Examples:
Seller lists 5 tubes in a Dutch auction, with the opening bid set at $10.
If 3 people submit bids, then all three win one tube each, for $10.
If 1 bidder entered $25, and 4 others entered $10, then all 5 bidders pay only $10, even
though one bidder had entered $25, because all bidders pay the same
price. However, if the first bidder entered $25 early, and 5 others bid $25 later,
then the early bidder and only 4 of the later bidders would win. In case of equal
bids, the earliest bids win. Thus, if there are 5 items for auction, then the 5
highest and earliest bidders win, but they all pay the lowest winning bid
price. Thus, the best strategy is to bid your maximum price right away.
Remember, you may actually pay less than your bid, and only as much as demand
allows.
Some auction venues allow bidders to specify a bid as well as a quantity they want to
buy. However, Audiogon's Dutch auctions limit bidders to one item each, so that more
people have a chance to get good deals.
Currently we are testing Dutch
auctions through the Audiogon Dealers only, but all members may bid on Dutch
auctions. Top |
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| Reserve price
Auction |
| Sellers may declare a reserve price that is higher than the opening bid
of their auction. If the bids do not meet or surpass the reserve price, then the
seller is not obligated to sell the item. Likewise, if the reserve price is not met,
the high bidder is not obligated to purchase the item either. The purpose of a
reserve price auction is to allow the seller some safety, in case the market value is
considerably below expectations. If the reserve price is not met, then the seller
and bidders are free to negotiate after the auction, but are not obligated to transact. Bidders
will always know if there is a reserve price, and whether the current bid has met the
reserve. However, the actual amount of the reserve price is not revealed to bidders.
Some sellers are willing to reveal their reserve price either within the listing,
or via email. However, sellers are in no way obligated to reveal their reserve
price, either during or after the auction.
Sellers can list a reserve price auction with the same form as a straight auction,
simply by specifying a reserve price in the appropriate field. Top |
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| Fixed Price
classified |
| This is a straight forward classified ad. The seller has a firm
price in mind and probably will not sell for less than the asking price. Interested
buyers should contact the seller only if they are willing to pay the asking price, or
something very close to it. Buyers who think the price is too high should wait to
see if the seller relists the item with a lower price, or changes the specification to OBO
- "Or Best Offer".
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| Best Offer
Classified |
| Sellers may submit an asking price but be willing to consider offers.
If specified as such, the seller's listing will display "obo" next to the
asking price, to signify "or best offer". Interested buyers should contact
the seller with an exact offer, specifying who pays shipping costs and what form of
payment is being offered. If two buyers make offers for the exact same dollar
amount, the seller may be prefer the offer with a certain type of payment, for example.
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| Wanted
to buy - "WTB" |
| This is a simple listing for buyers to specify what they are looking for.
Audiogon separates the WTB ads into their own category, rather than mixing them in
with the For Sale ads. Buyers may enter a price that they are willing to pay, but
they are not required to do so. Interested sellers should contact the buyer with
specific information on their item, including age, condition, warranty status, etc. Buyers,
post a WTB ad here. Top |
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| How
members contact each other |
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The initial contact between two members is handled via the Audiogon
website. Click on the "send email" link that will be found in each
listing. When you first send an email to a seller, you will not be
given the seller's email address. Instead, the seller will be
given yours, and will respond directly. At this time, both
members will have each other's email addresses, to continue
negotiations via direct email.
If you need to contact a member
that does not have an active listing on site, then you may use the Member
Directory to send an email.
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| Got a question we missed? |
| If you would like clarification on any of the above answers, or have a
question that we have missed, please contact us,
and we would be happy to email promptly. If you have a specific auction you are
asking about, please include at least the title of the auction or the item number in your
email. Have a suggestion? Please contact us.
We would greatly appreciate any comments or suggestions you might have. Top |
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