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Flash Smith

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What is Auctions4aCause.com?
12/22/2009 2:41:23 PM



What is Auctions4aCause.com?

Auctions4aCause.com is the Internet website of Auctions 4 A Cause, LLC, a Colorado company, which manages and implements private auctions, designed to raise money for selected charities and member non-profit fundraising organizations through the Internet via an innovative auction process called the Auction 4 Charity.

How do the auctions work?

  • Before each auction, the auction supervisor will determine the maximum bid amount and the maximum number of bids that will be accepted for the auction, among other things. This maximum bid price will be displayed for each auction and is referred to as the "Get4" price.
  • To Participate, users must register and setup a profile in which they choose a charity, from a list of selected charities. Registering is free.
  • After registering members may then participate in an auction.
  • To participate in an auction members submit bids, less than or equal to the "Get4" price in US dollars and cents and agree to pay a nominal bidding fee for each submitted bid.
  • For every bid a participant places in an auction, the charity in the Participant's member profile will receive one point.
  • Each Auction will close when it receives the maximum number of bid for the auction or meets the other closing requirements.
  • After the auction closes, the participant that submitted the successful (winning) bid is determined. The successful bid is the highest unique bid out of all bids received for the auction.
  • The successful participant may then purchase the product and/or service for the successful bid amount submitted by them in the Auction.
  • After receiving payment for the successful bid amount, the product and/or service will be delivered to the member.

What is a unique bid?

A unique bid is a bid that is NOT a duplicate bid. A "duplicate bid" is a bid submitted by a participant in an auction where another participant(s) has submitted a bid(s) for the identical amount. Duplicate bids are used to calculate the number of bids required to close an auction, but are disqualified from being selected as the successful bid. A bid can be unique and still not qualify as the successful bid. For example, in a single auction the following bids are accepted:

Participant "A" bids $69.42 (bid #1)
Participant "B" subsequently submits the identical bid of $69.42 (bid #2)
Participant "C" bids $48.69 (bid #3)
Participant "D" bids $65.44 (bid #4)

Bids #1 and #2 are for identical values and are therefore duplicate bids and disqualified from being selected as the successful bid. Bids #3 and #4 are both unique bids and qualify to be selected as the successful bid. Bid #4 is the highest unique bid and is therefore selected as the successful bid. All participants will be required to pay the bidding fees for the bids they submitted. Participant "D" is awarded the right to purchase the product and/or service offered in the auction at the successful bid amount.

What if an auction closes and there is not a unique bid?

In the very unlikely event that an auction closes and there is not a unique bid, all participants will receive an e-mail describing the situation and will be asked to submit a new bid within 72 hours. There will be no fees associated with the new bid and a special URL will be given to the participant to submit the new bid. If a participant does not submit a new bid, their original bid will be used.


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