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FREQUENTLY ASKED QUESTIONS |
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How to use the auction site
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Does it cost anything?
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Its free to sign up on goldbay.com, and its free to bid.
If your a seller its free to post a regular auction with no features, and you will only be charged if an item sells!!
Thereis a cost for extra addons for sellers, and the fees are available under the site fees link in the main menu. |
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Can I own a goldbay.com store?
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Yes, you certainly can, its available by clicking on your About Me link in the members area, and activating your store that way. |
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Can I sell ANYTHING I want on goldbay.com
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There are auctions sites avaiable to sell ANYTHING you want.
Goldbay.com is here for a niche product, namely gold nuggets, specimens, prospecting supplies, precious and semi precious gems and metals. I also have allowed for a books and videos section, since there are many books and videos in regards to gold.
You could however in the misc section sell a 2 man tent, or coleman camp stove, or light weight hiking botts as they are all somehow related to prospecting and camping.
I wouldnt want to see flower pots, baseball cards, computer monitors etc in this category, just use some common sense. |
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How do I retrieve my password
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you can try login, and if you use the wrong password you will be prompted to retrieve your password, you will enter your user name, and email address, it will then be emailed to you.
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My pictures dont show up when I post an item?
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This occurs if the picture your trying to use is bigger than 150kb. Resize your picture to 150kb or less, and it will work fine. |
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Whats does Reserve Auction mean
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What's the lowest price the seller will accept? That's the reserve price--a secret amount that exceeds the original minimum bid. Until bids meet or exceed the reserve price, nobody wins the auction, and the names of bidders are not revealed.
Many auctions don't have a reserve price. For those that do, once bidding is under way, a notice will appear on the auction detail page saying "Reserve price has not been met." If a bid meets the reserve, we'll let the bidder know and make note on the auction detail page that the reserve price is met. At this point the auction becomes a regular auction, and every new bid can win.
Keep in mind that whenever you bid on an item that has a reserve price, your proxy bid automatically checks to see that your maximum bid meets the item's reserve price--if it does, your bid advances your initial bid amount so that it matches the reserve price. |
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WHATS A PROXY BID?
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What amount should you enter? Perhaps you've decided that you're willing to pay $200.00 for this nugget. Still, you might assume you should enter $130.00, because that's the minimum amount you can bid. (The current high bid of $127.50 plus the bid increment of $2.50 is $130.00). Why pay more than you have to?
That's what you'd do in a conventional open outcry auction, where an auctioneer yells, "$127.50, $127.50, do I hear $130.00?" and people make bids by waving bid cards in the air.
That's not how it works on Goldbay.
Goldbay uses a different system called proxy bidding. This means that Goldbay keeps your bid as low as it can while still allowing you to win the auction.
To understand how this works, imagine that you can't attend an auction in person, so you send a friend—a proxy—to bid for you. You instruct your friend to bid up to $200.00 for this nugget, but no higher.
When the bidding reaches $127.50, your friend bids $130.00: the current high bid plus the bid increment. If someone else bids $132.50, your friend bids $135.00, and so on, until no one else bids and you win the nugget, or someone bids over $200.00 and you lose it.
If you're willing to pay $200.00 for the nugget, that's the maximum bid you should enter on Goldbay. Throughout the auction, Goldbay will act as if your friend were there bidding for you. If you win, you will pay no more than the next highest bidder's maximum bid plus the bid increment. |
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Can I post messages to the discussion forum?
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Yes, if your a registered member you can post to the forum. You can either start your own topic, or reply to existing topics. You are solely responsible however for your posts. Goldbay.com is in no way liable for anything you post. Your responsible for your own posts and any liability that may occur from said posts.
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HELP AND SUPPORT |
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