The Alzheimer's Art Quilt Initiative (AAQI)
Raising Awareness & Funding Research Through Art
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Auto Bid & Popcorn Bidding
We offer Auto Bidding as an option for all of our online auctions. This feature allows a bidder to input, as her Auto Bid, the highest amount she is willing to pay for a particular item and then the auction's computer system automatically makes bids on her behalf as others bid against her.The system will bid up to and including the Auto Bid amount as the competitive bidding proceeds.
Auto Bidding provides an option for people who have limited access to a computer — or for people who simply want to place a maximum bid and not worry about checking their email or the auction site as frequently to see if they have been outbid. However, it is always wise to pay attention to the auction site and check your email account, especially near the end of an auction. (See Popcorn Bidding below.)
Please understand that a bidder selecting the Auto Bid option can still be outbid if another bidder is willing to pay more. Auto Bid does not prevent you from being outbid. You can be outbid using Auto Bid if another bidder places a bid (either "Regular" or Auto Bid) which is higher than the Auto Bid amount you offered.
You can select "Regular Bid" or Auto Bid" each time you log in to lace a bid on an item. Be aware that the default is "Auto Bid" and there is a drop down menu that will let you change from "Auto Bid" to "Regular." The choice is yours each time you log in.
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Our online quilt auctions feature dynamic bidding, also known as “Popcorn Bidding." IF a bid is made within 9 minutes and 59 seconds of the auction's scheduled closing time, Popcorn Bidding automatically extends the scheduled closing time for the auction of that particular item for another 10 minutes after the bid is made. Each subsequent bid resets the clock to allow bids to be made for another 10 minutes. Once there has been no bidding activity for 10 minutes, the bidding is considered completed and no further bidding is accepted. The auction for the item is closed. As always, the person who placed the highest bid wins the item.Popcorn bidding prevents a practice known as "sniping," where bidders place a bid in the last seconds before an auction closes, thus preventing other bidders from responding with a higher bid. Auctions which employ Popcorn Bidding mimic traditional "live" auctions.
As always, if there is a specific item you really want, it is in your best interest to monitor the auction during the last few minues and to offer the highest Auto Bid amount that you are willing to spend. (See Auto Bid above.)
If you have any questions about Auto Bid or Popcorn Bidding or, please email auction@benefitbidding.com.
If you have any questions about the quilts, please email AmiSimms@aol.com. (Please do not email Ami about auction issues.)
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Frequently Asked Questions:
What is an Auto Bid?
Auto Bidding is an option for all of our online auctions. Autobid takes advantage of the computer in the online auction environment. By entering the maximum amount you are willing to spend as your Autobid amount, our software will automatically place a bid for you up to, and including, your maximum amount as competing bidders bid more than the current bid and less than your Autobid. The system will bid up to and including the Auto Bid amount as the competitive bidding proceeds.It will not block someone who places a Regular Bid at the same amount as your maximum Autobid amount. So keep an eye on the auction at closing to make sure you are not out bid. Autobid does not prevent you from being outbid. You can be outbid using Autobid if another bidder places a Regular bid that is the same amount of your Autobid maximum amount. Or if another bidder places an Autobid greater than your Autobid.
What is a Regular Bid?
A Regular Bid is a one time bid. A Regular Bid is a when a bidder places a bid for one amount that will be offered immediately. The amount that you place into this field will be placed as your bid immediately.
How does all of this (Regular Bid and Auto Bid) work together?
Online bidding replicates live or silent auctions in that bidders don’t know how high their opponents are willing to go. In online bidding, when bidders place bids, they don’t know if competing bidders have placed regular or autobids. And if bidders have placed autobids, other bidders don’t know the autobid amounts. All they know is the amount of the current high bid.
Example:
Current leading bid shown is $500 and Bidder A is the leading bidder. The minimum bid increment is $10. Bidder A has already placed an autobid for $800. Other bidders don’t know this; however, it is recorded in the computer database. So Bidder A has made a commitment to bid up to, and including, $800 if needed against other bidders.
A new bidder, Bidder B, wants to bid on the item. She sees a high bid of $500 by Bidder A. Bidder B has 2 decisions to make:
1. She must decide whether to place a Regular bid or Autobid.
2. She must decide on the bid amount. Regardless of whether her bid is Regular or Auto, it must be least $510.
There are 4 possible outcomes:
1. If Bidder B places a REGULAR BID LESS THAN $800: In this example, let's assume Bidder B places a REGULAR bid of $700. The computer will accept Bidder B’s bid and post it. Then the computer places a bid of $710 (next highest increment) for Bidder A because Bidder A is willing to bid up to $800). Bidder A is the leading bidder at $710.
2. If Bidder B places a REGULAR BID OF $800 OR MORE: In this example, let's assume Bidder B places a REGULAR bid of $900. The computer will accept the bid and post it. Bidder B is now the leading bidder at $900.
3. Bidder B places an AUTOBID of $800 OR LESS: In this example, let's assume Bidder B places an AUTO bid of $700. The computer will accept Bidder B's bid, post the next highest required bid of $510 as Bidder B’s bid. Then, the computer places the next highest required bid of $710 for Bidder A. Bidder A has a higher autobid max ($800) than Bidder B’s autobid max of $700 so Bidder A is now the leading bidder at $710.
4. Bidder B places an AUTOBID of MORE THAN $800: In this example, let's assume Bidder B place an AUTO bid of $900. The computer will accept the bid and post an autobid for Bidder B of $810 which is the next highest increment over Bidder A’s autobid max of $800. Bidder B is now the leading bidder at $810.
How do I know if I am placing a Regular Bid or an Auto Bid?
When you place a bid, there is a drop down menu under "Bid Type." There are two options in the drop down: "Regular Bid" or "Auto Bid." The default is "Auto Bid." Each time you bid, you can select either "Regular Bid" or "Auto Bid." If there is a specific item you really want, it is in your best interest to monitor the auction - especially during the last few minutes and to offer the highest Auto Bid amount you are willing to spend. Auto Bid will not block someone who is willing to place a Regular Bid at the same amount as your maximum Auto Bid amount.
When I tried to place a bid, the computer wouldn't take my bid even though I bid higher than current leading bid. What's up with this?
This is because another autobid is already in the system which is greater than the autobid amount you are trying to place.
When I tried to place an Auto Bid, the Auto Bid option was not in the drop down menu. Why?
This is because another autobid already in the system for that same exact amount
What is an Auto Bid?
Auto Bidding is an option for all of our online auctions. Autobid takes advantage of the computer in the online auction environment. By entering the maximum amount you are willing to spend as your Autobid amount, our software will automatically place a bid for you up to, and including, your maximum amount as competing bidders bid more than the current bid and less than your Autobid. The system will bid up to and including the Auto Bid amount as the competitive bidding proceeds.It will not block someone who places a Regular Bid at the same amount as your maximum Autobid amount. So keep an eye on the auction at closing to make sure you are not out bid. Autobid does not prevent you from being outbid. You can be outbid using Autobid if another bidder places a Regular bid that is the same amount of your Autobid maximum amount. Or if another bidder places an Autobid greater than your Autobid.
What is a Regular Bid?
A Regular Bid is a one time bid. A Regular Bid is a when a bidder places a bid for one amount that will be offered immediately. The amount that you place into this field will be placed as your bid immediately.
How does all of this (Regular Bid and Auto Bid) work together?
Online bidding replicates live or silent auctions in that bidders don’t know how high their opponents are willing to go. In online bidding, when bidders place bids, they don’t know if competing bidders have placed regular or autobids. And if bidders have placed autobids, other bidders don’t know the autobid amounts. All they know is the amount of the current high bid.
Example:
Current leading bid shown is $500 and Bidder A is the leading bidder. The minimum bid increment is $10. Bidder A has already placed an autobid for $800. Other bidders don’t know this; however, it is recorded in the computer database. So Bidder A has made a commitment to bid up to, and including, $800 if needed against other bidders.
A new bidder, Bidder B, wants to bid on the item. She sees a high bid of $500 by Bidder A. Bidder B has 2 decisions to make:
1. She must decide whether to place a Regular bid or Autobid.
2. She must decide on the bid amount. Regardless of whether her bid is Regular or Auto, it must be least $510.
There are 4 possible outcomes:
1. If Bidder B places a REGULAR BID LESS THAN $800: In this example, let's assume Bidder B places a REGULAR bid of $700. The computer will accept Bidder B’s bid and post it. Then the computer places a bid of $710 (next highest increment) for Bidder A because Bidder A is willing to bid up to $800). Bidder A is the leading bidder at $710.
2. If Bidder B places a REGULAR BID OF $800 OR MORE: In this example, let's assume Bidder B places a REGULAR bid of $900. The computer will accept the bid and post it. Bidder B is now the leading bidder at $900.
3. Bidder B places an AUTOBID of $800 OR LESS: In this example, let's assume Bidder B places an AUTO bid of $700. The computer will accept Bidder B's bid, post the next highest required bid of $510 as Bidder B’s bid. Then, the computer places the next highest required bid of $710 for Bidder A. Bidder A has a higher autobid max ($800) than Bidder B’s autobid max of $700 so Bidder A is now the leading bidder at $710.
4. Bidder B places an AUTOBID of MORE THAN $800: In this example, let's assume Bidder B place an AUTO bid of $900. The computer will accept the bid and post an autobid for Bidder B of $810 which is the next highest increment over Bidder A’s autobid max of $800. Bidder B is now the leading bidder at $810.
How do I know if I am placing a Regular Bid or an Auto Bid?
When you place a bid, there is a drop down menu under "Bid Type." There are two options in the drop down: "Regular Bid" or "Auto Bid." The default is "Auto Bid." Each time you bid, you can select either "Regular Bid" or "Auto Bid." If there is a specific item you really want, it is in your best interest to monitor the auction - especially during the last few minutes and to offer the highest Auto Bid amount you are willing to spend. Auto Bid will not block someone who is willing to place a Regular Bid at the same amount as your maximum Auto Bid amount.
When I tried to place a bid, the computer wouldn't take my bid even though I bid higher than current leading bid. What's up with this?
This is because another autobid is already in the system which is greater than the autobid amount you are trying to place.
When I tried to place an Auto Bid, the Auto Bid option was not in the drop down menu. Why?
This is because another autobid already in the system for that same exact amount