Penny Auction Type
WinnersPitStop.com has many different penny auction types:
A ReServe auction has a specific “hidden reserve” that no bidder knows. Once the “hidden reserve” price is met the auction will change the auction timer to a new count-down time and end when that time is met. If the “hidden reserve” price is NOT met during the auction time, the auction will close and all bids will be refunded back to the bidders.
This auction is the fun one! It can have a “hidden reserve” or not. A ReVerse Auction counts down from a specific price to $0.00. If the ReVerse auction has a “hidden reserve” the auction will change the auction timer to a specific time and count-down from there if the “hidden reserve” is met. If the “hidden reserve” is NOT met or the auction price does not go down to $0.00 from the auction start price, the auction will close and refund all bids back to the bidders.
*****ReServe & ReVerse Auctions do not have Shipping & Handling charges*****
Free Bid Auctions:
This auction does not deduct bids from each bidder and will end at a specific auction time. The winner is responsible for the end auction price and will need to pay that price (plus shipping & handling IF included) at the end of the auction. The winner has the normal time limit (72hrs) to make payment.
Victory Lap Auctions:
A Victory Lap auction is a regular auction except it will refund all bids back to the bidders when the winner of the Victory Lap auction has paid. Bidders must have bids in their account to cover bidding on a Victory Lap auction.
Bid Butlers will be available for all ReServe, ReVerse, Free and Victory Lap Auctions. A great tool for winning the auction while you are away from your computer. Make sure to clean out old Bid Butlers that are no longer needed. Modify any current Bid Butler per auction through your user “Dash Board” – “My Bid Butlers” as needed.
Regular Auctions will still be available from time to time, based on the number of users logged in.
HOT" items for the day will be a "Regular Auction" and will be set to $0.01, $0.02, or $0.03 increases.
*** Nailbiter *** Bid Butler is disabled during this auction. Usually a hot item!