SeeDickBid.Com
Reverse Auction Site

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How To Use The SeeDickBid.com Reverse Auction

The SeeDickBid.com Reverse Auction is a forum to place buyers and sellers together. Unlike a regular auction where a seller offers an item for sale and multiple buyers bid the price up, the reverse-auction format allows a buyer to start an auction for an item they wish to purchase and have multiple sellers bid the purchase price down. Sellers may offer their bids for the item by bidding a price lower than the current bid. The concept is to have multiple sellers bid the price of an item down to its lowest level.

TRY IT OUT: 10 minute test auctions are provided for free. Select TEST from the Auction Length pull down menu in the Start New Auction section. Test auctions are limited to a maximum opening price of $ 50.00.

REGISTERING: Viewing the current auctions is free and does not require a registration except for viewing private auctions. If you wish to start or bid on an auction you must become a registered user. This is a simple process that takes only a minute or two. Complete point of contact information is required including your e-mail address. You will also select a 'username' or 'alias' of your choice. Once you have completed the registration form it is submitted to seedickbid.com. A confirmation password will be e-mailed to the address supplied within a few minutes to verify your correct e-mail address. This password is generated randomly. Once you return to the auction site you may enter the Change Registration to modify your given password to one of your choosing. You are now ready to buy and sell.

SELLERS: If you wish to place a sell price bid you will be prompted for your username and password. Remember that placing a bid may be legally binding so do not bid unless you plan to sell. The minimum bid you may enter is listed on each page and is determined by the current bid and the specified bid increment value. If your sell price bid is the winning apparent low bid then you are obligated to sell to the buyer at that price. It is the sellers responsibility to conform any potential vendors to an Invited or Private auction. Click here for a picture of the bidding section from an open auction.

seedickbid.com features an automatic "reverse-proxy" bidding system:

    To bid, you specify the minimum amount you want to bid, this is the minimum amount you would be willing to sell the item for. It is not necessarily what you may end up charging. That amount is kept secret and is your proxy bid. The system will bid for you as the auction proceeds, bidding only enough to outbid other bidders. If someone underbids you, the system immediately will decrease your bid. Proxy bidding will continue until someone goes below your minimum bid, the auction ends, or you win the auction. If your original minimum bid is beaten you may enter a new bid. Your proxy will never go below what you're willing to charge for the item. The value of your proxy-bid is never disclosed to the buyer or any bidders unless it is beaten by a competitive bid. The use of the proxy bidding system means you can place a minimum bid early and not have to always track the item. With proxy bidding you don't have to worry about being underbid at the last minute unless someone bids under your minimum dollar amount, your proxy-bid. An e-mail notification is sent when a bid has been underbid. In the event of a tie the original bidder is given the bid, the more recent bidder must underbid the established bid to break a tie.

BUYERS: After registering you may list a purchase request. There are a few buyer-selected items required to list equipment on the auction. These include:

  • Auction Name
  • Category
  • Item For Purchase
  • Opening bid price
  • Bid increment value (the minimum value a buyer must outbid the current bid by)
  • Auction time length (1 to 21 days)
  • Target price - if required.

The target is the maximum price you will pay for the item. The target is not made public. If your Opening Price is above the Target, the auction will list 'Target Not Yet Met' beside the current bid. Once the target is beaten the message will change accordingly to "Target Met". If an auction is completed and the low bid has not met the target the buyer does not have to purchase at the current high bid. If the bidder and seller wish to negotiate a deal at this point it is at their discretion. If the target price is met or if no target is initially set by the buyer then the buyer is obligated to the apparent low seller. If the auction is being used by a Buyer in a proposal or pre-sale function then meeting the Target Price may be interpreted as a committment by the Buyer to use the Sellers price in their project. Buyers should clarify this in their auction description.

There is a Preview Page which gives the buyer the opportunity to insure their auction is correct before it is listed. Buyers also have the ability to modify their auctions during its cycle to provide an additional information.

At the end of an auction both the Buyer and low bidder will receive each others full point of contact information entered into the system including e-mail address.

FEEDBACK: Feedback provides a method for buyers and sellers to issue public comments on each other after a successful auction. A successful auction is defined as when the buyer has received an acceptable bid from a seller or the buyer's target price is met is one is set. Only the buyer and seller may leave feedback for each other. No feedback is left in auctions where the target price is not met. Anyone is permitted to view feedback on registered users. Feedback cannot be modified once left so be sure you are confident of your feedback before you issue it.

AUCTION TYPES: Four auction formats are available, Open, Invited, Private, and Confidential

  • OPEN Anyone is free to offer a sell price bid. Your auction will come up in searches and will be listed under the respective catagory. Open auctions are limited to auctions under $ 1,000 USD.
  • INVITED Your auction will still be viewable by the general public and will come up in searches and be listed under the catagory header, however prospective bidders must first contact you, the seller, for permission to be able to offer a bid. The seller will add prospective bidders to their approved bid list. Invited auctions are intended for higher value auctions such as automobiles where prospective sellers are actively solicited and the buyer must evaluate different sellers offerings.
  • PRIVATE Prospective bidders must be approved by the seller. No information specific to the auction may be viewed without the bidder being on the sellers approved list. Only the auction description will show up on searches and on the catagory list. Private auctions are design for use where bidders have already identified and approved prospecitive sellers. Private auctions are not viewable without an invitation to maintain confidentiality between the buyer and sellers.
  • CONFIDENTIAL Identical to a Private Auction with the exception that no pricing data is displayed to sellers. The sellers are only made aware if they are or are not the low bid.
  • Click here for a picture of the catalog page for each of the types of auctions.

All actual transactions are handled between the buyer and seller only. We absolutely do not get involved with disputes between buyers and sellers.

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Disclaimer:
You agree to hold the producers of this web site and any related individuals/ organizations harmless for any loss or damage claimed in any form arising from the operation of this web site or use of information herein. All content should be considered "AS IS" with no warranties of any kind. Buyer assumes all responsibility for listed items. Potential sellers should contact the buyer to resolve any questions before bidding.