AudioWeb - Auction Rules


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Auction Rules

Definitions

High Bid Auction - Auctions where only one unit is being auctioned. The first highest bid wins the auction.
Dutch Auction - An auction for two or more units of the same item. All units sell for the lowest winning bid. Winners are determined by a calculation that determines the combination of all bidders that produces the highest overall revenue.
Proxy Bidding - All bids placed in auctions on AudioWeb are proxy bids. Proxy bids allow the bidder to enter a maximum amount they wish to purchase an item for. AudioWeb will only bid high enough to make you the high bidder in an auction. As other bidders bid, AudioWeb will automatically increment your bid to make you the winner or until your proxy bid amount is reached.
Minimum Bid - The lowest opening bid the seller will accept for the item being auctioned.
Reserve Price - The lowest bid the seller will sell the item for. This value is optional and hidden from bidders.
Increment - The amount a bidder must bid over the current highest bid.
Bid - The highest amount you are committing to pay (in US Dollars) for each unit of the item being auctioned.
Qty - The quantity of units you are bidding on. Dutch auctions require a quantity. You can make your bid contingent upon winning all of the the units (all or none).
First Highest Bid - In high bid auctions, the first bidder to bid the highest amount. In dutch auctions, the first bidder(s) that produces the highest overall revenue as determined by determined by a calculation of all bidders who bid above the minimum bid and reserve amount.
Winning Bidder(s) - In high bid auctions, the first highest bidder. In dutch auctions, the first highest bidder(s) that produces the highest overall revenue as determined by determined by a calculation of all bidders who bid above the minimum bid and reserve amount.
Lowest Winning Bid - (dutch auctions only) The lowest bid among winning bidders.
Start and End Times - All start and end times are in US Eastern Standard Time/Daylight Savings Time
Auction Duration - Auctions run for up to a maximum of fourteen (14) days.
Extended Auctions - Auctions that receive bids in the final fifteen (15) minutes will be extended for an additional fifteen (15) minutes to allow all bidders to counter bid. This allows bidders to counter bids placed in the closing seconds of an auction.

Auctions on AudioWeb consist of audio enthusiast related items or services offered for auction by AudioWeb Members. Auctions run for up to fourteen (14) days (or less if the seller so chooses). As with all Member to Member transactions AudioWeb has no participation in these auctions other than providing a venue for them. View current fee schedule here.

Seller Rules

These rules are in addition to terms and conditions of our Membership Agreement.

Auctions may run up to fourteen (14) days.
Multiple units of the same item being auctioned must be identical in everyway, or they should be auctioned seperately.
The seller can not bid on their own auctions or use other members (shills) to bid for them.
The seller always commits to sell the item/s being auctioned at the winning bid(s).
The Seller can not change an auction once it has begun. Additional description text or html may be appended to the Item Description. If the information you append alters the ad's original offer or terms, the seller relieves winning bidders of their obligation to purchase your item.
A winning bidder's obligation to purchase your auctioned item is in direct proportion to how specific you make the terms and conditions listed in your ad. Be sure to define the specifics of, for example:
- Forms of Payment you will accept.
- Shipping Carriers you are willing to use.
- Who pays shipping related costs.
- Where you are willing to ship to.
- Escrow service requirements.
Auctons are for items and services directly related to audiophile interests.
Auctions are only for items that you, as the advertiser, are legally entitled to sell.
Auctions are only for items that you are offering for sale specifically at this website.
Auctions may not contain links and/or references to other sites except for the purposes of displaying images, more detailed descriptions or reviews.
Auctions may not advertise new equipment unless it is a one off: ie floor model, small special purchase etc.
Auctions are about one product (though you can sell multiple units of the same product in the same auction (dutch auction)).
Auctions must contain fair and accurate representations of the item being sold.
Sellers agree to release AudioWeb from any liability or claims of any kind resulting from transactions that result from your auction.
AudioWeb retains the right to remove any auction for any reason, at any time, at our sole discretion.

Bidder Rules

These rules are in addition to terms and conditions of our Membership Agreement.

Bidders are expected to be reasonable in their expectations, honest and prompt.
Bidders understand and accept that AudioWeb has no involvement in auctions or resulting transactions and therefore has no control over the legality, quality, safety, or accuracy of description of items advertised and sold.
Winning Bidders have an obligation to purchase the item they have won. You will lose your AudioWeb membership if you back out of an auction you have won unless:

The seller requires of you a condition of sale that was not explicitly detailed in the Ad description.
The seller's description of what is being sold differs significantly from what they propose to ship to you.
You can prove extreme mitigating circumstances that AudioWeb may decide justifies your retraction.

Bidders can retract their bids from an Auction before an Auction closes if ABSOLUTELY necessary. Please note that AudioWeb seriously frowns on this. Retracting a bid disqualifies you from further bidding in that auction. Bids cannot be canceled after an auction has closed.
In follow up bids to an auction, Bidders cannot lower the quantity of units they are bidding on.

Restricted Use

The AudioWeb Preowned Marketplace is for advertising items and services directly related to audiophile interests. Advertisements for non-audio related goods and services are strictly prohibited. Violators of this policy will be charged a fee of $1,000 for each listing in violation of this policy and will be ordered to cease further use of AudioWeb.

Please review our Buying and Selling Notes.