FAQ

How to buy using Forward Auction Marketplace?

Seller hosts forward auctions by involving two or more buyers competing for business. The forward auction will be created by the admin or seller wherein the attributes of the products will be defined long with the auction time. Post adding the product, the seller can choose to sell using either of the options – Buy Now Price or Auction Price.


How to buy using Fixed Price Marketplace?

Fixed Price Marketplace allows user to pay a premium to guarantee a purchase through BuyNow Price and will cancel the item listing from entering into an auction bidding war. Through Buy Now Price AucBidZ facilitates direct transaction between buyers and sellers. "BuyNow price" will be available during the opening period before any bidding activity has started.


How to post requirements and shortlist suppliers using RFP and Reverse Auction?

Buyer normally conducts reverse auctions by involving two or more vendors competing for business. We have integrated RFP with reverse auction tools to streamline the supplier selection process. Buyer can use the RFP marketplace to post its buy requirements. It can request for the sample products and other details such as delivery time/mode, quality, and warranty etc.from the sellers. Buyer would use the RFP to shortlist suppliers and obtain quotes that will help buyer to determine auction parameters before running the auction event. Seller can sell surplus inventory using RFP marketplace. It can negotiate and obtain quotes from different buyers. After getting confirmation on payment details, then shipping of the product will be taken care as per agreement between buyer and seller. We will ensure completion of the deal between them.


Automatic bidding

The user can opt for automatic bidding by means of auto bidding function; wherein users/bidders will have to fix the maximum bid amount and the website’s system will place bids on user’s behalf beginning with the next bid increment until you are the winner of the auction or another bidder bids higher than your maximum auto bid. The bid increment is the predetermined amount by which a bid will be raised each time the current bid is outdone. AucBidZ conducts auction on the basis of total value of a product; which comprises of number of lots & its price. In some cases, wherein the number of lots that the user wants to purchase are not equivalent to the total auctioned lots, the auto bidding function will not be available for such.