Bidding Features of Thompson Cigar Auctions
- Auction Format
- How To Bid
- Winning Bid Determination
- Editing Bids
- Buy Now Auctions
- Max Bid (Auto-Bid)
Thompson Cigar Auctions use the "Yankee Auction" format. In a Yankee Auction, one or more identical items are offered for sale at the same time. When the auction closes, the highest bidders win the merchandise at their bid price.
How To Bid
- Place your bid by entering the amount of your bid (the amount you are willing to pay for the product). The default amount in the form field will be the minimum bid necessary to win at least one quantity of the lot. The system will not permit you to submit a losing bid.
- If necessary, enter the quantity you would like to bid on. Please note that your total bid is your bid price times the quantity you requested.
- Submit bid. Be sure to check back often to see if you have been outbid. When you are outbid by someone else, you can raise your bid and continue as often as you like. There is no charge to place a bid. Winners are notified by email when each auction closes.
- You may also select the optional Max Bid feature to instruct the system to update your bids automatically to increase your chances of winning.
- If you have already bid on a lot and would like to update your bid, i.e., change the bid price or quantity, you may do so.
Winning Bid Determination
- A bidder with a higher Max Bid takes top priority over other bidders at the same bid price.
- An earlier bid will beat a later bid of the same price only if they have the same Max Bid.
- Users have the option to edit their bids to increase the price or change the quantity.
- If a user's bid is increased automatically using the Max Bid feature, the bid is still considered to be from the date/time of the original bid. Thus, that bidder will still beat a later bid of the same price. In other words, updating a winning bid does not affect its status as an earlier bid.
- Per "Yankee Auction" guidelines, winning bidders are charged the amount of their final winning bid multiplied by the number of units won plus shipping charges (see Shipping Savings Program for more detail.)
- Bid modifications can be made to current bid, quantity, and auto-bid.
- Bid price, bid quantity and the maximum bid can be increased at any time.
- Bids cannot be deleted. See our Order Cancellation Policy for further details.
- A Buy Now cannot be edited or deleted.
Buy Now Auctions
- Buy Now Auctions allow you to purchase an item at a discounted price, eliminating the bidding process.
- Buy Now may not be available for the duration of the lot.
- All Buy Now purchases are final and cannot be edited.
- A Buy Now can be used to outbid another user, reducing the quantity available.
- Buy Now purchases are shipped according to your selected shipping preferences.
- If you have selected daily shipping, Buy Now purchases will process same day and ship out on the following business day.
- If you have selected weekly shipping, Buy Now purchases are processed into orders on your next weekly shipping day.
Max Bid (Auto-Bid)
- By selecting the Max Bid feature, when you’re outbid the auction system will automatically bid on your behalf up to your maximum bid. We increase your bid by the defined lot increment only as much as necessary to maintain your position as winning bidder.
- The maximum bid must be at least one bid increment greater than your initial bid to activate this feature.
- Please note that if auto-bid is activated, the bid will be raised for your entire bid quantity. However, once you have reached your maximum bid, you may win a partial quantity. You will not lose the lot until your entire quantity selected has been outbid.