FAQ

Q: Does it cost anything to join CyprusBid?

A: No, it is free to join. Some listings may require small payments, but you can get an account for free.We only charge 5% on the items you sell in order to be able to maintain our website.We do not charge commission on items like Real Estate or Vehicles for the time.

Q: What is bidding, and how do I make a bid?

A: A bid or bidding is an offer which is normally in a competitive setting. It is a price that is placed that you’re willing to pay for the item in question. It might also be known as the ‘bid price’ which is the amount that is offered by the buyer or bidder at the time of the auction. You can bid on an item by clicking on the “bid” button next to the item.

Q: I see “bidding up” all over, what does it mean?

A: Bidding up is referring to raising a price on an item through a series of bids that increase. It is against the rules to group with people and raises the price on an item only to increase the price with no intentions of purchasing the item. The goal of a bid is to drive the price down, and not increase it through online auctions.

Q: How does a bid and ask work?

A: When it comes to a bid and asks, the bid price stands in contrast to the overall ask price or the “offer” price, and the difference between both prices is called the bid/offer spread. You can bid a lower price, or get the item at the offer price right away.

Q: What is an unsolicited bid or offer?

A: This is when a company or person receives a separate bid even though they do not want to sell. Unsolicited bidding can lead to a bidding war where a large amount of bids are put in through the rapid succession by two or more bidders, this is especially true when the price paid is much higher than the original asking price, or larger than the first bid when the unsolicited bidding started.

Q: What is a “BIN” or “Buy it Now” Auction?

A: This type of auction is where the seller gives you the chance to purchase the item right away without having to wait and bid on the auction until it ends. It is also known as a “Fixed Price Listing.” The Buy it Now price that is listed is the price that the person can purchase the item at then without bidding.

Placing the Buy it Now button on an auction can shorten the amount of time the item has to sell, and once the buyer hits the “Buy it Now” button, they are responsible for paying for the item and the auction closes.

Q: Do I have to pay for the item right after I purchase it?

A:  You do not have to; you will have a set number of days to make the purchase. However, you are responsible for paying the seller if you won the auction or did the buy now action.

Q: What is a Private Auction? How about a Public Auction?

A: A private auction is where the bidders are hidden, so anyone that chooses to purchase the item can be anonymous. This can be done for rare items, protection of identity or when the items are risqué. A public auction is where identities are not hidden and anyone is welcome to bid.

Q: What is an Automatic Auction? How about a Manual Auction?

A: An automatic auction is when the auction will end automatically and the winner is then automatically selected. A manual auction is when the winner of the auction is manually selected by the person offering the item.

Q: What is a watch list and what is it used for?

A: A watch list is a feature that can be used that allows the user to track, watch, and even see the current activity on a favorite item or a list of favorite pages on the website. You can also watch items that you have already bid on through the watch list.