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We are so confident that we are better than all other penny auctions here
is our competitors advertisments:
Welcome to Bidito
The newest way to shop.
We refer to it as competitive bidding, but you may know it as reverse auctions
or penny auctions. If you are new to Bidito read our "how it works" to
understand the process.
Good luck and happy bidding!
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 | How It Works |  |
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Easy as 123...4
1) Register for an account.
2) Buy some bids or use your free bids.
3) Find an item you like and place a bid.
4) Be the last bidder when time finishes and win!
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1) The time left for this item. Once item goes below 1 minutes, each bid will increase the time by 15 seconds
2) The Price of the item for the winning bidder. This is the price you would pay if you win this item.
3) This is how much you are saving from the Suggested Price.
4) This states who is winning the auction. "nobody" = no one is winning at this moment, 'You' = means you are winning this auction.
5) This shows how many bids you have placed on this auction.
6) This is the button you press to place a bid. Note: after pressing this button there may be a few second delay before your bid is placed and you see the update on your screen.
7) This is the button to buy the product for a 10% buy now charge added to the suggested price. If you feel that you are spending more money in bids and just want to buy this item the bids you use will be credited toward this item.
8) This is the Suggested Price of the product, it is our estimate of the true value of this product.
9) This is the the highest an item's price will reach. Once an item reaches
this price, or a few cents below, each bid will not raise the price any further(this is to keep our prices low).
10) This is the Buy Now Price of the product. This shows the formula of how we get the buy now price and the actual price you would pay to buy it now(plus shipping). You may buy it now upto 24hrs later, but remember that there must be more than 1 quantity remaining.
11) This is the condition of the product, since we allow others to sell on Bidito you may see New, Used, or Refurbished conditions.
12) This is the quantity or how many items remain. If the quantity falls to 1 you will no longer be able to buy this product now.
13) This is who is selling the item, you can check the sellers score and history by clicking the picture or title of the auction. Once you are there you will see links on the right side of the page to view there history and rankings.
14) This tells the type of auction this is. Example( 0.02c actions means each time a bid is placed the auction price will go up 0.02c). It also tells you if this auction is a reverse, free, or closed auction. Everyone can bid in an reverse and free auction, but in a closed auction only people that have placed 1 bid before the auction closed may place a bid. Read below for the difference between free and reverse auctions.
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Reverse vs. Free Auctions
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Reverse Bidding Auctions start at a very low price(usually $0.00), then climb by a small
increment with each bid. You can buy bids for as little as $0.25 per bid, win them in an auction, or invite friends
and other ways to receive free bids. Once an auction has reached a certain price, the auction will be closed to
anyone who has not placed at least 1 bid, allowing the people that have bid on the
item a better chance at winning.
Maximum Price is the highest an item's price will reach. Once an item reaches
this price, or a few cents below, each bid will not raise the price any further(this is to keep our prices low).
Beginner Auctions are auctions
only users that have not won an auction can bid on. This gives our new members a greater chance of winning there first auction.
When time
gets below 60 seconds each bid will increase the time of the auction by 15 seconds. When the time says pending
we are checking to see if there is any last second bidders, if there are last second bidders then the time will
increase and the auction will continue. If there isn't any last second bidders, then you will see that the auction
will say sold. If you are the winner, then you can go to the MyBidito page to finish paying for your item.
If
you lose in a reverse auction you can always buy the item upto 24 hours after the auction ends and as long as the quantity is above 1. There is a 10% buy now fee and the bids you use will go as credit
toward your purchase at $0.25/bid.
Free Auctions are very similar
to regular auctions that you may have seen on other auction sites with 1 main difference, if a person bids at the
last second we increase the time. This way you will not fill cheated by last second bidders. There is no fee associated
with placing a bid(your bid count remains the same), but you are commited to buy the item if you win the auction.
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How Auto Bidder Works
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Once you click on an items picture and go to item's individual page you will see another button there named
"Auto Bidder". The Auto Bidder is a tool that lets you place bids automaticly, you don't even have to be on
the computer. Once you click the Auto Bidder button you will be taken to a page to enter the minimum value to
start the bidding, the maximum value to end the Auto Bidder, and how many bids Auto Bidder will place for you.
Auto Bidder will only place bids when the time is down to less than 3 seconds, so you don't have to worry about
Auto Bidder costing you a lot of bids. When you have entered the information just hit create and Auto Bidder
is good to go!
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Selling On Bidito
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What You Need To Know.
Your first step is to read this how to. Your second step is to sign up for a Bidito account, once you have an account with Bidito
you will need to go to the MyBidito page(found at the top). From the MyBidito page you will click
on the sell an item button, the next page is where you will create/post your item.
Your item will proceed just like a normal Bidito auction. When your item sells and Bidito receives payment for the product
you will be sent a payment to your paypal account for the bids your item generated along with the shipping cost.
Once you have received payment you must ship the item to the auctions winner.
How do I get money?
You make your money from bids when you sell with Bidito.
You may create $.02, $.05, or $.10 auctions.
- $.02 auctions will receive $.20 for each bid on there item.
- $.05 auctions will receive $.25 for each bid on there item.
- $.10 auctions will receive $.30 for each bid on there item.
Buy Now Feature:
If you decide to place more than 1 item the buy it now feature will be enabled, so make sure you have the items in stock.
You receive 5% price increase for all items. If your item cost $100.00 you will receive $105.00 plus shipping.
The other benefit of doing the Buy Now Feature is that your bidders will bid with
the confidence that if they lose the auction they can buy your item to receive all there bids back, this way
nobody is a loser. When you take out this fear of wasting bids you will get more
bidders, and with more bidders more money. Remember when a buyer uses the buy now feature
on your auction, it does not stop the auction, you just sell this buyer the
exact same item with the buy now fees.
Maximum Price: This is highest an item's price will reach. Once an item reaches
this price, or a few cents below, each bid will not raise the price any further(this is to keep our prices low).
Fees:
Bidito Receives the final price of the item sold.
If you do the Buy Now Feature Bidito will Charge 5% of the price for all items. If your item costs $100.00 and
someone clicks to buy it now the final price is $110.00 plus shipping, the bidito fee will be $5.00. To Post an
item you must have 4 bids for free auctions and 2 bids for reverse auctions, this is the cost of posting an item on Bidito, when you submit an item we will deduct
these bids from your account. We have this cost here to keep people
from posting junk on our auctions.
What if my seller doesn't pay?
You may repost your item in 1 week if your winner does not pay. You will not be charged and no bids will be paid
out to you.
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