BidWarz Auctions
1. What is Bidwarz Auctions?
2. How does Bidwarz Work?
3. This seem too good to be true. What’s the catch with Bidwarz Auctions?
4. Can I purchase these products directly from you without participating in the auctions?
5. Who can join and bid? And howmuch does it cost?
6. How many items are available in each auction?
7. Do I get notified when an auction starts or ends?
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 hapen if there are no Unique Bids?
5. Can I review the auctions that I’ve entered?
Ending of Auctions
1. When does an auction end?
2. At what circumstance an auction may be cancelled?
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
1. Is there any Shipping or Transport costs?
2. How do I receive the product if I am the successful bidder?
Payment / Purchase Token
1. How can I submit a bid?
2. How to purchase token?
3. How much a token?
Credit / Token Account
1. How to open a credit account?
Return Policy
1. Can i return the item and get refund if I am not satisfies?
Bidwarz Auctions
1. What is BidWarz Auctions?
BidWarz Auctions are where products are placed on auction with the following rules:
2. How does BidWarz 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 purchase an E-token in order to place a Bid. This is best illustrated with the following example:
Holden Barina - Recommended Retail Price: $16999
Required. No. of Bids: 2000
Administration Fee: 5 E-Token’s
At the end of the auction the lowest ten bids may look like this:
Required. No. of Bids: 2000
Administration Fee: 5 E-Token’s
At the end of the auction the lowest ten bids may look like this:
Date Placed
Bid 1: $0.01 02/02/07
Bid 2: $0.01 31/01/07
Bid 3: $0.02 30/01/07 Lowest Unique Bid
Bid 4: $0.03 31/01/07
Bid 5: $0.03 30/01/07
Bid 6: $0.04 29/01/07 unique bid but not the lowest
Bid 7: $0.05 28/01/07
Bid 8: $0.05 27/01/07
Bid 9: $0.06 31/01/07
Bid 2: $0.01 31/01/07
Bid 3: $0.02 30/01/07 Lowest Unique Bid
Bid 4: $0.03 31/01/07
Bid 5: $0.03 30/01/07
Bid 6: $0.04 29/01/07 unique bid but not the lowest
Bid 7: $0.05 28/01/07
Bid 8: $0.05 27/01/07
Bid 9: $0.06 31/01/07
Bid No.3 is the Lowest Unique Bidder and is awarded the auction result and would have to pay only 2c. He/she has therefore purchased an article for $2c (Bid Amount) + 5 (E-tokens) = $5.02 = 0.03% of the Retail Price ($16999)!
3. This seems too good to be true. What’s the catch with BidWarz Auctions?
You really can purchase products for a fraction of their normal retail price however you need to purchase E-Tokens for each 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 first submitted 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 you will need to purchase E-Tokens for each bid placed. Number of E-Tokens will 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?
The entire participating member will receive a notification email or SMS.
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 purchased enough E-tokens 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. You may also receive confirmation via SMS. (Optional)
3. How do I know if my bid was successfully submitted or accepted?
You will be notified by email or SMS 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 Unique Bid then the successful bidder is determined by the highest 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.
Fees
1. What and how much is an E-Token?
The E-Token is a form of currency that you will need to purchase. Each E-Token has a set value of $1.00 AU. It’s an online amount charged for each Bid placed on a particular auction. Each auction has a set number of E-Tokens required per bid. This fee is non-refundable.
2. When will I be charged my Administration Fee?
The Administration fee is the number of E-tokens required per bid, and this will be charged every time you bid.
3. What are the cancellation terms and do I get refunded?
Participants are not permitted to cancel bids once they have been accepted. E-Tokens will be refunded only in the event of an unsuccessful auction.
Ending of Auction
1. When does an auction end?
An Auction will close when
1. We have received the Maximum Number of Bids (Max Bids) or
2. The End Date has been reached.
In both these cases a CLOSING SOON. Banner will appear on the lot when the End Date is approaching and there are only a small percentage of Bids remaining.
The Successful Bidder will be notified immediately by email or SMS of his or her Successful Bid and the remaining Bidders will be notified by email or SMS that the Auction has closed.
2. At what circumstance an auction may be cancelled?
An Auction may only be cancelled if the product is damaged or stolen.
All the Bidders will be notified by email or SMS of the Cancellation and will receive all E-Tokens credited back to their account
Shipping
1. Are their any Shipping or Transport costs?
Shipping and Transport is free to all capital cities with a valid Australian delivery address, unless otherwise stated. The item will be shipped to the successful Bidder within 14 days when the payment is received, unless otherwise stated in item description.
2. 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 capital city of your choice were it will arrive at a specified vehicle depot. The winning bidder will then be required to present photo identification at the depot prior to receiving the item. The winning Bidder should receive the vehicle within 14 business days, unless otherwise stated in item description. All items will be shipped via a carrier of BidWarz choosing.
Payments/ Purchase Token (Credit)
1. How can I submit a bid?
To submit a bid you must purchase E-tokens (credit) to cover the required bid. If you have credit in your Bidwarz member account, E-token will be debited from your BidWarz Member account immediately upon the submission of a bid. Bid amounts will only be charged to the Successful Bidder after the close of the auction for a given item. Discounts may apply to Admin Fees.
2. How to purchase Token?
We only accept payment with a valid Visa and MasterCard via www.bidwarz.com.au. We do not accept any other methods of payment.
3. How much is a token?
It is AUD$1 per token.
Credit / Token account
1. How to open a credit account?
To purchase credit, go to: member and click on purchase E-token. A minimum of ten tokens must be purchased at any one time.
We only accept payment with a valid Visa and MasterCard via www.bidwarz.com.au.
Return Policy
1.Can I return the item and get refund if I am not satisfies?
BidWarz warrants that the description of the goods and services offered for sale by way of auction on this site accurately reflect the condition, state and nature of the good or product.
In the event that the good or product supplied to the Bidder does not comply with the description of the good or product auctioned by BidWarz, the Bidder may within 3 months of receipt of the good or product return of the good or product supplied by BidWarz to Bidwarz.
In the event that the good or product is returned by the Bidder to Bidwarz in the condition which it was supplied to the Bidder, BidWarz will refund in full and without deduction the Bid Amount.
