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How Auctions work on RewardTV
Use your Points to bid on prizes in our Auctions section. Click on a specific prize and enter your bid for the prize.
Like other auction sites, RewardTV uses automatic bidding. Here's how it works:
When you place a bid, enter the maximum number of Points you are willing to pay for the item. (Other members won't know what your maximum amount is)
The auctions system places bids on your behalf, using only as much of your bid as necessary to maintain your high bid position. The system will bid up to your maximum amount.
If another bidder has a higher maximum, you will be outbid. If no other bidder has a higher maximum, you win the item. If you win, you only spend as many Points as was necessary to outbid the next highest bidder.
How do I select an Auction?
Go to the Auctions page of the Rewards section, and click on a product to view the details of the auction.
How do I place a bid?
To place a bid on an item, click on that item and then enter your username, password, and bid. Then click on the "Submit Bid" button to complete the bidding process. All bids are final.
Once you have placed your maximum bid, RewardTV will then continue to bid automatically on your behalf, according to the minimum bid increment, until your maximum bid is reached. This process, known as "automatic bidding," allows you to remain competitive in an auction even when you are not in front of your computer. Bids placed automatically on your behalf are referred to as "deputy bids."
Remember - maximum bids are confidential! If another member submits a higher maximum bid, you will be instantly outbid. If you are notified that you have been outbid on an item, you may place another maximum bid before the auction closes, but you must place the highest maximum bid in order to win.
What happens if I win an Auction?
If you are the highest bidder when the auction ends, you are the winner. You will receive an email with a link where you can click to claim your prize and also provide us with your shipping information. Please allow 10-12 weeks to receive your prize.
What happens if I don't win the Auction?
Once you place a bid, the Points you used to bid are placed on hold and can't be accessed. If you don't win, the Points are put back in your account and will be available for use.
What is Secure Bidding?
In order to maintain the security of your account, you will be required to enter your email address and password each time you place a bid. When you click on the "Place Bid" button, you will be automatically signed in and your bid will be confirmed against your current account balance.
How do I know if I won an Auction?
An item will go to the highest bidder that meets or exceeds the minimum bid at the close of auction. If you are the winner, you will be notified by email once the auction has closed. Items will be shipped within approximately 10-12 weeks from submission of the winning bid.
What is a minimum bid?
A minimum bid is the starting price of an item or, if a bid has already been placed on it, the current highest bid plus the minimum bid increment (the smallest amount by which the current highest bid may be increased). All bids need to be at or above the level of the minimum bid.
What is the minimum bid increment?
The minimum bid increment is the smallest amount by which the current highest bid on an item may be increased.
What is a maximum bid?
A maximum bid is the maximum number of Points you are willing to spend on an item. When you place a bid, you are letting RewardTV know the maximum number of Points it may automatically bid for that item on your behalf. Maximum bids are confidential. If another member places a higher maximum bid than you, you will be instantly outbid. If you are outbid on an item, you may place another maximum bid before the close of auction - however, you must place the highest maximum bid in order to win.
What is automatic bidding?
RewardTV Auctions use automatic bidding. Automatic bidding allows you to respond to a rival bidder even when you are not in front of your computer. Automatic bidding is triggered when you place your initial, or maximum, bid. Once you have submitted your maximum bid, RewardTV continues to bid automatically on your behalf, according to the minimum bid increment, until your maximum bid is reached. These automatic bids are referred to as "deputy bids."
For example, the starting bid for an item is 100 Points. You submit a maximum bid of 50,000 Points. Using automatic bidding, RewardTV places the lowest possible winning bid for you - in this case, the minimum bid of 100 Points - so that you don't end up paying more for the item than you have to. Another member places a bid of 200 Points. RewardTV automatically responds by placing a bid of 200 Points on your behalf. Your bid is recorded first, because you placed your maximum bid before the other member placed theirs. You remain the current high bidder for that auction.
What is a deputy bid?
Deputy bids are the bids placed by RewardTV on your behalf using automatic bidding. Once you place your maximum bid, RewardTV continues to place deputy bids on your behalf, according to the minimum bid increment, until your maximum bid is reached.
Can I cancel my bid?
All bids are final.
Where can I view my current Auctions bids?
You may view your current auction bids at My Auctions
Still have questions? Please contact us via our Member Services page.
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