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PIRS On-Line ™
Auction Rules.

 

Any use of the PIRS On-Line ™ site is governed by the following Auction Rules and Disclaimer.

Auctions

Auctions typically last 1 - 30 days from the placement of the ad, based on the duration the seller selects at the time the ad is placed. PIRS On-Line ™ automatically terminates bidding at the end of the auction, and notifies the seller and the high-bidder via e-mail.

To prevent ending the Auction while people are still biding, PIRS On-Line ™ automaticaly adds 5 minutes to the ending time. If there are no more bids during that period of time the Auction will end, otherwise another 5 minutes are added.

At the end of the auction, the owner and the high-bidder are notified via e-mail. Auction results are also available for everyone to examine. These results indicate the final bid price and the owner's and high-bidder's e-mail addresses. The complete bidding history is also available as part of the description page. Buyer and seller should try to contact each other within three business days of the end of the auction. Buyers run the risk of losing their place as winning bidder if the seller contacts the next bidder after three business days have elapsed.

PIRS On-Line ™ acts solely as listing-agent. We don't get involved in the actual transaction.

Bidding

All bidding is done with bid increments, which vary from item to item based on the current price plus a 5% increment approximately.

To place a bid, simply select the item from the main list, and then press the bid button. Please bid the amount you are willing to pay for the item. This amount is NOT kept secret! and will be used as the base for the next minimum bid.

Once you make and confirm a bid, you cannot take it back, except under dire circumstances. Bid retraction is a privilege that must not be abused. Valid reasons for bid retraction do not include bidding or winning a bid on another (perhaps similar) item; not having budget to pay for an item; changing your mind; etc.

Please bid carefully!

By placing a bid, you signify your intention and ability to buy the item at your bid amount. Placing a fraudulent bid is not permitted, and may be legally actionable. We record enough information to track the computer which originated the fraudulent bid and will file complaints with the appropriate authorities when necessary.

Important: individuals who bid on an item and then back out of the purchase for reasons other than legitimate concerns may be barred from future use of the system, at our sole discretion. You are required to provide a valid e-mail address with your bid.

You will automatically receive notification if your bid amount is outbid by another bidder. But you should realize that you may be outbid minutes before the close of an auction, and not have the opportunity to place a new bid.

Starting your own auction

It's fun and easy to start your own auction. Simply fill out the form available at our home page to add an item. We ask that you use a short, descriptive title, and a complete description. You may not use HTML tags in the title, but you are free to do so in the description. This means that you can link to pictures, etc., if you so choose.

 It's a good idea to set the minimum bid for your item a little lower than you would think, just to get the auction going. If your minimum bid is too high, people may not bid. However, keep in mind that the minimum price you specify indicates the minimum amount you will accept to sell the item.

The software automatically specifies the bidding increment, based on the current price. The increment is kept as low as possible (5%) to encourage more people to bid.

By placing an item on auction, you signify your intention and ability to sell that item. Although no one can force you to sell your belongings at the final auction price, not doing so may be legally actionable by the high bidder.

You may place any merchandise that you have the right to sell up for auction. If we don't think your item is appropriate for any reason, we reserve the right to move the item from one category to another or to end the auction.

All items, upon succesful sale, will be charged a Flat Rate insertion fee, and will not be charged based on the final selling price if the item. Please see our account information page for more information.

Important: sellers are held to a slightly higher standard than bidders, with regards to handling complaints made by potential buyers. If a seller receives three or more legitimate complaints, the seller may be barred from using this service, at our sole discretion. You are required to provide a valid e-mail address with your listing.

In addition, sellers who submit illicit or illegal items may be barred from future use of the system, at our sole discretion.

You can advertise the existence of your auction with the URL:

http://insa.com/cgi-bin/pirsauction.cgi?CATEGORY&ITEMNUMBER
where CATEGORY is the category in which you listed your item and ITEM NUMBER is the item number assigned to your item.

Price manipulation

Sellers are prohibited from manipulating the price of any item they are selling, either by use of a shill (a secondary account or third party) or by bidding themselves. Sellers who shill bid on items may be barred from future use of the system, at our sole discretion.

Some rules for sellers are listed below:

First, a seller should set the minimum bid for their auction to the lowest fair price at which they are willing to sell their item. This is the preferred mechanism, since it seems to be the most fair option for all involved.

Second, a seller may employ a Reserve Price Auction. This allows the seller to set a price below which he/she does not agree to sell the item.

Third, a seller in a non-reserve price auction may bid on his/her own item only once. This may happen if a seller starts an auction at a particular price, and then realizes that he/she wants to keep the item at a price above that minimum bid. This restriction applies to sellers' agents or associates as well. Keep in mind that we keep all bidding records and can track multiple bids, and that the bidding history is visible to anyone who is interested.

Reserve Prices

Some auctions may be run with reserve prices. The reserve price is the lowest price at which a seller is willing to sell an item. The reserve price is never disclosed to bidders. A seller might specify a reserve price if he/she is unsure of the real value of his/her item and would like to reserve the right to refuse to sell the item if the market value is below a certain price. During an auction, an annotation will be displayed in the item information screen if the seller has specified a reserve price.

The seller specifies the reserve price when he/she lists an item. This price should be above the minimum bid price. The auction begins at the minimum bid price. When a bidder's bid amount is equal to or greater than the reserve price, the item's current price is raised to the reserve price. At this time, the item information will indicate the reserve price has been met. The bidder is also notified that his/her bid met the reserve.

Minimum bid

Keep in mind that the minimum bid specified by the seller indicates the minimum amount the seller will accept to sell the item, unless the seller are using a reserve price. Refusing to sell an item once someone has placed a bid that reaches the seller's minimum or reserve price is a violation of the Auction Rules.

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Last Update Monday, 05-Mar-2001 20:47:27 EST
SysOp@insa.com
Copyright (c) 1995-2001 INSA, Information Systems & Automation, Corp.