Features
Hifunda Auction is really
different due to the unique features it offers:
Search for any item
Sell an item
Alert notification
My auction
Today’s auction and weekly auction
My bid
Hot items
Types of auctions
Auction Search
Enter any item into the auction
search box. A list of items appear. Click on any item and reach the bid page, where you
can bid. Thus you can directly bid for any item of your choice.
Sell an itemSell an item
Exclusively for sellers who wish to
sell any item of their choice in the auction. Click and sign in the login page. Get a
category listing, clicking on one of which, reach its subcategory. When you have clicked
on a sub-category, you get a form where you have to fill in the required details and
submit.
Search for an ItemSearch for an Item
You can search for any item by
clicking on the categories. Access the sub-category page. When you click on any specific
sub-category, a listing of items appear. Choose any item and click. Enter the login page
and fill in user name and password. This straight away takes you to the bidding page where
you bid and submit.
Alert Notification
Whenever you reach any sub-category
page, you get a alert notification box, where if any bidder or seller enters the
sub-category of their choice and submits, he will get a mail everytime when any item is
added to that category.
Whenever you reach any sub-category
page, you get a alert notification box, where if any bidder or seller enters the
sub-category of their choice and submits, he will get a mail every time when any item is
added to that category.
My AuctionMy Auction
Clicking on my auction, access
the login page and view a list of items that you have put in for auction. Simply click one
and a modification form is at your fingertips in which you can make any change and submit.
Today’s Auction & Weekly Auction
In this section you are presented a
listing of products which are there for the day’s auction. Click on any one and go in
the login page. Sign in and bid. In Weekly Auction page, you are presented a list of
products which are for the week’s auction. The rest is as simple as in Today’s
Auction.
My Bid
This section features the list of
items that you have bid for. After logging in, you enter the bid page, where you can
rebid.
This section features the list of
items that you have bid for. After logging in, you enter the bid page, where you can
re-bid.
Hot ItemsHot Items
This section features top (five/ten)
items which have the maximum number of bids. Click on any item and log in. Access the bid
page where you can also bid for the hot items.
Standard Auctions
Standard auctions can be classed
as the most common type of auction, though each auction is exceptional in its own way. If
you wish to sell a single item or a group of items to one high bidder, a standard auction
is the one for you. You may set a reserve price with such auctions.
What is a Dutch Auction and how does
it work?
A Dutch auction is a special
auction formated to handle a situation in which a seller has multiple, identical items
that he/she wishes to sell. The seller specifies the minimum price [starting bid] and the
number of items he/she has available to sell. Bidders can submit any amount at or above
the minimum for a specified quantity they are interested in purchasing. The bid amount
reflects what the bidder is willing to pay for EACH of the items. At the close of the
auction, the highest bidders earn the right to purchase the items at the lowest successful
bid. Bid amounts are for (each) item. Shipping is for (each) item. A Dutch auction is a special
auction formatted to handle a situation in which a seller has multiple, identical items
that he/she wishes to sell. The seller specifies the minimum price [starting bid] and the
number of items he/she has available to sell. Bidders can submit any amount at or above
the minimum for a specified quantity they are interested in purchasing. The bid amount
reflects what the bidder is willing to pay for EACH of the items. At the close of the
auction, the highest bidders earn the right to purchase the items at the lowest successful
bid. Bid amounts are for (each) item. Shipping is for (each) item.
Example
Let's assume a seller has 12 Radios
with a minimum bid of $15.00 each. Twenty people bid for one radio each, at $15. In this
senerio, only the first 12 people will be the successful bidders, since the bid amounts
are the same, and earlier bids take precedence. If there were 20 bidders on this 12 radio
auction, and the highest bid was $25. and the next 10 bids were all the same at $18. and
the next highest bid was $15. (which would cover the 12 radios in this auction) and the
rest of the bidders bid below the $15., the winning bidders would be the highest bidder at
$25., the next 10 bidders at $18. and the 12th bidder at $15. – and all the winning
bidders would be entitled to their radio for $15.
Let's assume a seller has 12 Radios
with a minimum bid of $15.00 each. Twenty people bid for one radio each, at $15. In this
scenario, only the first 12 people will be the successful bidders, since the bid amounts
are the same, and earlier bids take precedence. If there were 20 bidders on this 12 radio
auction, and the highest bid was $25. and the next 10 bids were all the same at $18. and
the next highest bid was $15. (which would cover the 12 radios in this auction) and the
rest of the bidders bid below the $15., the winning bidders would be the highest bidder at
$25., the next 10 bidders at $18. and the 12th bidder at $15. – and all the winning
bidders would be entitled to their radio for $15.
Reserve Price
When a seller fixes a price for
selling his item below which he is not interested, it is known as the Reserve Price. It is
the lowest amount you'll accept for an item. In fact, many bidders dislike participating
in auctions where the seller has established a reserve price, though sellers sometimes use
this method, coupled with a ridiculously low minimum bid, to stir up interest in an item.
Until bids meet or exceed the reserve price, nobody wins the auction. On the auction item
page, we let bidders know that you've set a reserve price, but we don't reveal what that
price is. Sellers cannot change the reserve price if the item has already received bids.
Minimum Bid
Minimum Bid is the price at which
bidding will begin.
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