No. Browsing and Bidding for merchandise on Record Auctions is free. As a buyer, you are not obligated to buy anything on Record Auctions after you have registered. You are welcome to drop by any time and look around. If you see something you would like to bid on you can do so quickly as a registered member.
Yes. To ensure fair bidding, a valid Visa, MasterCard or American Express credit card will be required to bid on any item. Your credit card information is required only for the first time you place a bid on Record Auctions. All additional bids will not require credit card verification.
Your credit card is required for personal identity validation only. Credit card verification may pre-authorize charges to your card to pay for an auction item if you are a successful auction winner. All authorized, or pre-authorized, credit card payments for winning bids will be processed through our secure payment servers.
By providing your valid credit card information, you authorize Record Auctions to make a temporary $5.00 CDN charge to your credit card account, to verify that the credit card information you provide is valid. This charge will be refunded to your account within 7 days upon verification. This credit verification will occur each time you provide a different credit card in the bidding process.
If you need to update your credit card information, you can do so anytime from your "My Account" section on Record Auctions.
Yes. You may contact Record Auctions before placing a bid from the listing page by clicking on the "Ask A Question" link if you require additional information about the item, or the payment terms.
In an Open Auction, buyers bid until the auction ends. The item is then sold to the highest bidder at the end of the auction period. The seller must sell the item to the highest bidder. Bidding can start as low as the Opening Value (minimum price or starting amount) of the auction.
Credit cards will be charged automatically, unless otherwise stated.
A Dutch Auction occurs on Record Auctions if a seller has multiple, identical items offered for sale that are not listed separately. The item appears as one listing but shows that there are multiple identical items within this one listing. The seller specifies the minimum price (the Opening Value) and the number of items for sale. Bidders can then bid at or above the minimum price for the quantity of items they wish to purchase. At the close of the auction, all winning bidders purchase the items at the same price, which is the lowest successful bid. This is not to be confused with a regular auction where vendors may have multiple identical items listed separately from each other. When this occurs each separate item may be won for a different amount from each other.
Fixed Price Sale, or buy now listings, have a fixed price set by the seller and buyers simply choose to buy the item at that price. The available quantity will be updated on the listing page each time an additional item is sold. You may continue shopping during the buy now sale and add to your buy now cart, however a successful purchase only occurs when you checkout and your credit card has been approved. Quantities on items available for sale are limited; therefore if another purchaser buying the same item completes the checkout process prior to you completing the checkout process, you may lose the item based on quantities available.
Upon successful checkout completion you may go to your My Account and download your pdf redemption certificate.
Smart Bid is proxy bidding system on Record Auctions. Each time you place a bid by entering your maximum bid amount (which is the most you're willing to pay for a item), you will be using our Smart Bid bidding system. Smart Bid will then bid automatically, on your behalf and at the lowest possible bid increments, until your maximum bid amount is reached. That's all there is to it!
The goal is to win an item at the lowest successful price. To do so, you must be the bidder who placed the highest maximum bid at auction close. You will be notified by e-mail if your maximum bid has been surpassed by another bidder. In case of a tie for high bidder, earlier bids will take precedence.
Your maximum bid amount is the highest price you are willing to pay for an item.
You should determine beforehand the most you are really willing to pay for an item and then enter a single bid at that amount in the Bid Amount field. An early bid supported by a high maximum bid amount can make you a winner!
A current high bidder's maximum bid amount will remain "protected" (will not be viewable to other bidders in the Bid History) while all other next high bidders' current bid amounts will be viewable during the auction. Having the current high bidder's maximum bid amount protected during the auction encourages bidders to submit their maximum bid amounts according to their desire to purchase the item, and not bid only in accordance with the current "Next Bid" amount for a listing.
With Open Auctions, your protected maximum bid amount (if you are a current high bidder) will not be shown to other bidders.
The goal when using Smart Bid is to win an item at the lowest successful price. To do so, you must be the bidder who placed the highest maximum bid at auction close. The lowest successful price may not necessarily be the maximum bid amount you submitted to win the auction, unless there was a tie. Typically, the lowest successful price is the next highest bidder's maximum bid amount plus the stated bid increment.
Yes. If your maximum bid amount has been outbid, you can place another maximum amount (Smart Bid). You can also increase your maximum bid amount, or desired quantity, if you are a successful bidder.
Once submitted, you will see review information about your bid indicating the bid amount placed, and if your bid is currently the winning bid. To place additional bids, click on the Submit Another Bid for Listing #... button, which is located beneath the Bid History on the Summary page. You can then re-enter a new bid amount according to the "Next Bid" amount as currently shown on the listing page.
When reviewing an item's Bid History after having placed a bid, you should reload, or refresh, your browser so that it displays the most current information.
When this happens, it means that an earlier bidder has placed a maximum bid amount, which is higher than the amount of your maximum bid.
When you placed your bid, the Smart Bid system immediately placed another bid on the earlier bidder's behalf, for an amount just high enough (i.e., plus the bid increment) to outbid your maximum bid amount, insuring his position as high bidder.
If the maximum bid that you place is high enough to outbid any other bidders, then Smart Bid will do the same for you and maintain your position as the current winning bidder.
There are two reasons why a confirmed bid can be considered invalid:
Yes - but your confirmed bid can only be retracted under special circumstances should you choose to submit a formal bid retraction request.
Once you have submitted your confirmed bid, it can only be retracted under the following circumstances:
You cannot retract a bid if:
To retract a confirmed bid, you must contact Customer Service at email@example.com or call 519-895-5687 or 1-800-210-5210 (toll free) with your request. Include the item listing number and the reason for the retraction. All bid retraction requests received by Record Auctions less than 24 hours before auction close will not be processed regardless of the explanation. All bid retraction requests received by Record Auctions without a valid explanation will not be processed. Bidders who retract their bids may not place new bids on that item.
You can monitor all your bidding activity from within your ‘My Account’ area.
You can locate an auction you have bid on from within your ‘My Account’ area, or by entering the listing's listing number, if known, from the Search page.
If you are the winning bidder when an auction closes, Record Auctions will send you an e-mail notification confirming payment and telling you that you have won the item.
A PDF certificate will then be available in your ‘My Account’ area with applicable pick-up and contact information.
If you do not receive notice and believe you are the successful bidder, you must verify the auction status from within your ‘My Account’ area.