FAQs
General
Registering
Registering on the Site This is fairly straight forward and usually indicated as “Register” at or near the top of the site home page. Sites may require certain fields be filled out while others may be optional. Certain fields are required for basic auction procedures such as your email address for notification emails and your name and address. Other examples may include your date of birth if the site either requires a contract (which is a generally excepted idea when auctions involve an intent to sell along with an intent to buy - the seller creates a contract for the potential bidder who then enters into a binding contract if their bid proves the winning bid. Registering without filling in the necessary required fields will result in an error message until you correct those missing fields. Depending on the sites procedures you may either be able to buy and/or sell right away or you may have to verify you account from an email from PT that has been sent to you. First and last names must be used for registration or your account is apt to be suspended. Have any questions just email us at admin@poultrytrade.com Users Guide
Auction basics Auction types Standard Auction -Sometimes referred to as a “Proxy” auction due to the fact that the auction system will bid up to your maximum bid using the site increments until your maximum is met. The system bids as your proxy so you donʼt have to keep coming back. Users bid anything more then the minimum bid (or opening bid for auctions that have not opened up yet) and if that bid is greater then any maximum bid already placed then that bid will be the new current/high bid. This is the mostly widely used auction method. Dutch Auction -Dutch auctions are a format for selling multiples of the same item. Bidders can bid as much as they are willing to pay for as many of the available items they want. Winners are determined through a combination of the high bids and the available number of items. Here's an example of how it works: Seller has 10 widgets and wants to sell with an opening/lowest price is $5. Bidder 1 bids for 3 of them at a price of $25 Bidder 2 bids for 4 of them at a price of $15 Bidder 3 bids on 4 of them at a price of $15.75 - Bidder 3 is forced to bid at least another increment higher, in this case, $15.75. So lowest bid in the dutch auctions raises the new minimum bid. Bidder 4 bids on 4 items at a price of $10. Here's how the winners pane out: Bidder 1 gets his 3 and pays $25 each Bidder 2 gets his 4 for $15.00 each Bidder 3 gets 3 of his 4 bid on (10 limit reached) for $15.75 each. Bidder 4 gets nothing since his bid wasn't high enough to compete for the 10 available items. With Dutch auctions, the system will not bid up for you ("proxy bidding") and what you bid IS your bid. Buy it Now only -This type of auction is more of a straight sale rather then an auction per. se.. The seller places a price on the item and buyers must pay that price to win the auction. There is no bidding. However, buy it now can be used in conjunction with other auction formats and provides and opportunity for buyers to buy an item outright if they either donʼt want to bid or have a sense that the end highest bid will be above the buy it now price. Auction type variables -Sellers have options when listing their auctions to better control how their item will sell. Minimum Bid This is the lowest possible opening/winning bid. This can be used to protect a minimum cost of an item. Reserve Price This can be used with or without a minimum bid. With a winning bid the wining bid must both be both over the minimum bid as well as be at/over the reserve price. Buy it Now Can be used both with the option of “buy it now only” on or off. With buy it now only this is the selling price for the item and no bidding occurs. With buy it now only off then this is the price that the item can be purchased for before any bidding occurs. Registering on the Site This is fairly straight forward and usually indicated as “Register” at or near the top of the site home page. Sites may require certain fields be filled out while others may be optional. Certain fields are required for basic auction procedures such as your email address for notification emails and your name and address. Other examples may include your date of birth if the site either requires a contract (which is a generally excepted idea when auctions involve an intent to sell along with an intent to buy - the seller creates a contract for the potential bidder who then enters into a binding contract if their bid proves the winning bid. Registering without filling in the necessary required fields will result in an error message until you correct those missing fields. Depending on the sites procedures you may either be able to buy and/or sell right away or you may have to verify you account from an email from PT that has been sent to you. First and last names must be used for registration or your account is apt to be suspended.
Registering on the Site This is fairly straight forward and usually indicated as “Register” at or near the top of the site home page. Sites may require certain fields be filled out while others may be optional. Certain fields are required for basic auction procedures such as your email address for notification emails and your name and address. Other examples may include your date of birth if the site either requires a contract (which is a generally excepted idea when auctions involve an intent to sell along with an intent to buy - the seller creates a contract for the potential bidder who then enters into a binding contract if their bid proves the winning bid. Registering without filling in the necessary required fields will result in an error message until you correct those missing fields. Depending on the sites procedures you may either be able to buy and/or sell right away or you may have to verify you account from an email from PT that has been sent to you. First and last names must be used for registration or your account is apt to be suspended. Have any questions just email us at admin@poultrytrade.com Users Guide
Auction basics Auction types Standard Auction -Sometimes referred to as a “Proxy” auction due to the fact that the auction system will bid up to your maximum bid using the site increments until your maximum is met. The system bids as your proxy so you donʼt have to keep coming back. Users bid anything more then the minimum bid (or opening bid for auctions that have not opened up yet) and if that bid is greater then any maximum bid already placed then that bid will be the new current/high bid. This is the mostly widely used auction method. Dutch Auction -Dutch auctions are a format for selling multiples of the same item. Bidders can bid as much as they are willing to pay for as many of the available items they want. Winners are determined through a combination of the high bids and the available number of items. Here's an example of how it works: Seller has 10 widgets and wants to sell with an opening/lowest price is $5. Bidder 1 bids for 3 of them at a price of $25 Bidder 2 bids for 4 of them at a price of $15 Bidder 3 bids on 4 of them at a price of $15.75 - Bidder 3 is forced to bid at least another increment higher, in this case, $15.75. So lowest bid in the dutch auctions raises the new minimum bid. Bidder 4 bids on 4 items at a price of $10. Here's how the winners pane out: Bidder 1 gets his 3 and pays $25 each Bidder 2 gets his 4 for $15.00 each Bidder 3 gets 3 of his 4 bid on (10 limit reached) for $15.75 each. Bidder 4 gets nothing since his bid wasn't high enough to compete for the 10 available items. With Dutch auctions, the system will not bid up for you ("proxy bidding") and what you bid IS your bid. Buy it Now only -This type of auction is more of a straight sale rather then an auction per. se.. The seller places a price on the item and buyers must pay that price to win the auction. There is no bidding. However, buy it now can be used in conjunction with other auction formats and provides and opportunity for buyers to buy an item outright if they either donʼt want to bid or have a sense that the end highest bid will be above the buy it now price. Auction type variables -Sellers have options when listing their auctions to better control how their item will sell. Minimum Bid This is the lowest possible opening/winning bid. This can be used to protect a minimum cost of an item. Reserve Price This can be used with or without a minimum bid. With a winning bid the wining bid must both be both over the minimum bid as well as be at/over the reserve price. Buy it Now Can be used both with the option of “buy it now only” on or off. With buy it now only this is the selling price for the item and no bidding occurs. With buy it now only off then this is the price that the item can be purchased for before any bidding occurs. Registering on the Site This is fairly straight forward and usually indicated as “Register” at or near the top of the site home page. Sites may require certain fields be filled out while others may be optional. Certain fields are required for basic auction procedures such as your email address for notification emails and your name and address. Other examples may include your date of birth if the site either requires a contract (which is a generally excepted idea when auctions involve an intent to sell along with an intent to buy - the seller creates a contract for the potential bidder who then enters into a binding contract if their bid proves the winning bid. Registering without filling in the necessary required fields will result in an error message until you correct those missing fields. Depending on the sites procedures you may either be able to buy and/or sell right away or you may have to verify you account from an email from PT that has been sent to you. First and last names must be used for registration or your account is apt to be suspended.