Bid for Good > FAQ

Frequently Asked Questions

Q: What does becoming a member cost?

A: Nothing – it is absolutely free to join bidforgood.org – in fact, the first 100 new accounts get a $2.00 credit

Q: How does Bidding work?

A: Once an item goes up for bid – you will see a percent to goal indicator and as long as it is under 100%, you can bid and should encourage others to bid. Each Bidder’s Max Bid adds to the Bid Pool (*Auction Goal).

Once it reaches 100% the auction ending timer starts counting down and will stop once bidding slows to approximately 1 bid per minute. The 1st person to have made the highest bid is the winner.

Q: What happens to my bid if I don’t win?

A: If your bid does not win, it will be subtracted from your Bidding Account.

Q: What happens to my bid if I do win?

A: You will receive the item and your bid along with the stated shipping cost for the item will be taken from your bidding account.

 Be a Winner!

How does this auction work?

Every max bid for each item accumulates until the item’s “Bid Pool” (a secret preset goal) is reached.

Once that goal is reached a timer starts and the auction will run until the bidding slows to a set rate.

The Bidder that made the 1st Top Bid will Win the auction once it ends.
Everyone will have their Max Bid withdrawn from their bidding account.

Now hopefully you can see why everyone would want many, many people bidding… because, the more bids –
the smaller they can be, and the Bid Pool will be reached much faster and the winning bid can remain extremely low.

 

Number of
Bidders
Unique
Bid Amounts
Bid Group
Total
Bid Pool
Running Total
149 $0.01 $1.49 $1.49
124 $0.02 $2.48 $3.97
99 $0.05 $4.95 $8.92
84 $0.07 $5.88 $14.80
100 $0.10 $10.00 $24.80
66 $0.15 $9.90 $34.70
56 $0.25 $14.00 $48.70
53 $0.50 $26.50 $75.20

The goal of $75 was hit and the Winning bid was $0.50

$75.20

Hypothetical Auction with 731 bidders.
This Auction raised $75 of which 15% of the profit goes to charity!

These bidders spent less than 50 cents (most of them less than a quarter) having some Fun and the *Winner ended up with a $50 item for 50 cents!

Oh, and have we mentioned…
No One knows how much anyone bids or how many bids there are or what the bid pool is?

This is so much fun… tell your friends!!!

You will want them all to join and start bidding!

 

*In this example, the winner was the 1st bidder that bid $0.50