Bidding Basics
Once you find an item you would like to acquire you may place a bid on it. Bidding is a
simple procedure and fully automated on Vizino. The item description page will give you
all the information you need to figure out the current status of the auction. Below is a breakdown
of the different features
What are the Fees/Costs involved in Bidding on an item?
There are no fees charged for Bidding on an item at Vizino.
Explain minimum bid?
The minimum bid is the lowest amount you enter to bid on any particular item. The Minmum Bid
is raised everytime a new higher bid is placed on the auction.
Explain bid increment
The Bid Increment is the amount by which a bid is raised to create the Minimum Bid for the next
Bidder. This is created by the seller at the time of listing.
What is the reserve price?
The Reserve Price is the lowest price at which the Seller would like to sell the item. In order
to win the auction, a Bidder must meet or exceed the reserve price and have the highest bid. The
reserve price is kept secret until the close of the auction. If there are no Bidders that meet or
exceed the reserve price the Buyer and Seller are not obligated to complete any transactions.
What is proxy-bidding?
Proxy Bidding allows the Buyer to place the Maximum Amount they are willing to pay for an item.
The Maximum Amount will be kept secret and Vizino will bid on the Buyer's behalf as necessary
by increasing their bid by the current bid increment up until their maximum is reached. This saves
the Buyer the trouble of having to keep track of the auction as it proceeds and prevents them from being
outbid at the last minute unless their spending limit is exceeded.
What are the different auction types?
Vizino support the following auction types: English, Vickrey, Dutch and Yankee. For a more detailed
explaination follow the link "auction types".
I received an email saying I was outbid?
If another user places a bid higher than the one you have placed you will receive an outbid email
notification. The email should include a link back to the auction. If you wish you may go back
to the auction listing and enter in a higher bid.
What if I won an auction?
When you are the highest Bidder of an auction you should receive an Email notification with the
Seller's contact information. It is up to you to contact the Seller and make any payments to them
that are required. Remember that you are under contract to pay him or her the amount of your bid,
and possibly other fees that were mentioned in the item listing. The Seller is then under contract
to make sure you receive the item. All contacts are usually made within 3 days after close of auction.
How do I contact the seller?
You can contact any user on Vizino though the SILKmail system. Another method of contact
can be direct email. Each auction listing should have a link to "ask seller a question".
Is there a binding contract between buyer and seller?
As a bidder, if you have the highest bid at the end of the auction, at or above the
minimum bid price (or in the case of reserve auctions, at or above the reserve price), and
your bid is accepted by the seller, you are obligated to complete the transaction.
How do I check a seller's feedback?
If you know the username of the person your are inquiring about you can go directly to the Feedback
section and lookup their user history. Each auction listing should also have a link to "view seller's feedback".
For a more detailed explaination follow the link to "Feedback".
Can I check the status of all auction I bid on?
You can also check the status of the auctions you have placed bids on by going to your mySILK page.
Once you are in that section you can choose the Selling History option.
How do I contact customer service?
If you have a question or problem with anything related to Vizino you can follow the link to contact
our Customer Service deparment.
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