Glossary

Absolute Bid

An Absolute Bid, sometimes referred to as traditional bid, represents the fixed amount the Bidder is committing to pay for the item on which he/she bids.

(This type of bid will rarely be used at Barga.ca)

Bid

The amount a Registered User submits, and is, therefore, willing to pay for an item, via the bidding feature contained within the website. In the case of Limit Bids, the system may automatically raise the Current Bid as authorized by the Bidder’s Limit Bid. Also, see Limit Bid and Absolute Bid.

Bidder

Any Registered User who places a Bid on a Listing.

Bidding

The process by which a Registered User places a Bid on a listing.

Bidholde

The Bidholder (may also be referred to as High Bidder, Winning Bidder) is the person who holds the Current Bid on a particular listing. If the listing is closed, the Bidholder is called the Winning Bidder.

Bid Form

The Bid Form (also referred to as item detail or description page) is the web page which contains details related to a particular listing. This page provides an item, seller, high bidder and closing information. Bids are submitted by the bidder from this page.

Bid History

A summary of bidding information submitted by Bidders for a particular Listing. The Bid History will be displayed based on the following guidelines:

• NOT shown while bidding is open

• Shown when bidding is closed

• Bid amounts are NOT shown. For listing types utilizing Limit Bids, only the amount of highest bid placed is displayed

• User must be logged in to view the bid history

• User must be a bidder on the associated item to view the bid history

Bid Increment

The Bid Increment, or minimum raise, is the minimum acceptable amount that the Current Bid must be raised by the next bidder as dictated by the system-wide Bidding Increment Rules. In general, the Current Bid + Bid Increment = Minimum Bid. However, when there are no bids on an item, the Minimum Bid is equal to the Opening Bid (i.e. there is no Bid Increment).

Bid increments are always based on the current bid. Therefore, the bid increment may be different if the current bid is $10 versus when it is $250.

For example, if Bidder A holds the Current Bid at $130 and the bid increment at that level is $10, then Bidder B must bid at least $140.

Bidding Preferences

The section of the Registered User’s My Account console which controls various bidding related settings. For example, a Registered User can turn “off” the option to automatically add “bid on” items to the User’s Watch List.

Counterbid

When an existing Bidder, or the system in the case of a Limit Bid, places another Bid on an Item in response to being out bid (i.e. Current bid is raised) by another Bidder.

 

Current Bid

The Current Bid, sometimes referred to as High Bid, is the amount at which the Bidholder (i.e. Current Bidder) holds the Bid. Once the listing is closed, the Current Bid is known as the Winning Bid.

Extended Bidding

A dynamic feature which allows the system to automatically extend the closing time of a listing based on bidding activity within a designated period prior to the scheduled closing time. Extended Bidding is a system wide setting and applies to listings on an individual basis. All applicable Extended Bidding information is posted on the bid form.

Extended bidding is on and set to 300 seconds (5 minutes).

Therefore, if a Bid is placed within the last 5 minutes of the designated closing time, the closing time automatically extends 5 minutes from the time the bid is logged into the system. The “new” closing time is indicated under “Extended Closing” on the bid form. Subsequent bids on the item will continue to extend the listing’s closing time until there is a 5 minute period without any bids. This applies to any Bid that is accepted by the system.

The following example assumes Extended Bidding is set to 2 minutes (120 seconds in the system). The actual Extended Bidding time for this web site may differ and is stated above. For example, if the scheduled closing time for an item is 5:00:00 PM EST and a bid is logged at 4:59:15 PM ET then the closing for that item will be extended 2 minutes to 5:01:15 PM ET. If a subsequent bid is placed at 5:01:00 PM ET then the closing will extend to 5:03:00 PM ET. If no other bids are accepted then the item closes at 5:03:00 PM ET.

Advantages:
• Allows a Bidder, whose Limit Bid is beaten in the last minutes or seconds, time to re-bid. This prevents a bidder from being “shut out” (also known as sniping) as they would be if the listing had a “fixed closing”.
• Allows a Bidder, whose last minute Bid does not overtake the current Bidholder’s Limit Bid (if applicable), time to bid again if still interested in the item.
• Extended Bidding more accurately simulates a “live” event where the bidding ends only when the participating parties discontinue bidding within a certain time period.

High Bid

See “Current Bid”

High Bidder

See “Bidholder”

Instant Purchase

The Instant Purchase option allows any Registered User to buy an item immediately at the designated, fixed price. This option is only available for single quantity listing types. In addition, this option is available until the Bid meets or exceeds the Instant Purchase price. Please note that this is unlike some systems where the Instant Purchase price disappears once an item is bid on, or when the reserve price is met (if applicable). To use this feature, go to the bid form of the respective item and select the BUY button and confirm the purchase.

Bidder Beware! If the current high bid on an item is below the Instant Purchase (buy) price, the item may be sold to another user via the Instant Purchase option.

Sold by Instant Purchase identifies when an item has been sold (and closed) using this option.

(This type of bid will rarely be used at Barga.ca)

Item

See Listing

Limit Bid

A Limit Bid (or Proxy Bid, Maximum Bid) represents the maximum amount a Bidder is willing to pay for a particular Listing. By placing a Limit Bid, the Bidder authorizes the system to Counterbid on his/her behalf as dictated by the bidding logic.
IMPORTANT: Some listing types, such as a Traditional Bidding, use Absolute Bids and do not use Limit Bids.

Limit Bids are entered on the bid form and have the following characteristics:

• A Limit Bid must be greater than or equal to the Minimum Bid on an item.

• The system automatically bids on a limit bidder’s behalf, up to the Limit Bid amount, as needed to keep that bidder the High Bidder.

• The system does not disclose Limit Bid amounts to any Bidders except the bidder who placed the Limit Bid.

• Limit Bids may help prevent a Current Bidder from losing an item to a last minute Bidder. Placing a Limit Bid may also “save time” and help eliminate the need to monitor a listing and/or participate in “back and forth” bidding.

Example 1:

Bidder A holds the Current Bid at $10 and has a Limit Bid “stored” in the system at $20. If Bidder B bids $11 (assume the minimum increment is $1 at this level), the system automatically Counterbids for Bidder A at $12. If Bidder C then places a Limit Bid of $20, Bidder A becomes the High Bidder at $20 since Bidder A entered a $20 Limit Bid first. If Bidder C then submits a Limit Bid of $25 he/she becomes the new High Bidder at $21 with a stored, “hidden” Limit Bid of $25.

Listing

A Listing, sometimes referred to as an Item or Lot, is an individual offering provided on the web site. Typically, this constitutes a product, service or bundled set of products/services. Although most Listings are available to be bid on (i.e. dynamic pricing), there may be fixed-priced Listings for sale too (e.g Limited Time Offer). Some dynamic priced Listings may also have a “buy option” known as Instant Purchase.

Lot

See “Listing”

Maximum Bid

See “Limit Bid”

Member

See “Registered User”

Minimum Bid

The minimum acceptable amount that is required for a bidder to place a Bid on an Item. The Minimum Bid is calculated using the Bidding Increment Rules and the Current Bid. For example, if the Current Bid is $100 and the Bid Increment is $10 at the $100 level, then the Minimum Bid is $110.

Please note the following:

• The Minimum Bid shown on the bid form is accurate as of when the page was loaded. Since bidding is taking place in real-time, this amount may change while you are entering your bid. If this occurs, you will be notified upon submitting the bid and may bid again.

• The Minimum Bid is equal to the Starting Bid when the Bidding begins. Therefore, a Bidder is only required to bid the Starting Bid amount if he/she is the first bidder.

Minimum Raise

The minimum amount the Current Bid must be raised to meet the Minimum Bid on a listing. The Minimum Raise is determined by the Bidding Increment Rules. In general, the Current Bid plus the Minimum Raise equals the Minimum Bid. However, for a listing with no bids, there is no Minimum Raise. Therefore, in this case, the Minimum Bid is equal to the Starting Bid.

My Account

My Account is your complete bidding and buying management tool. Please log-in the My Account console each time you visit the web site. This will allow you to:

• Monitor bidding activity.

• Update your personal Profile.

• Track items on your Watch List.

• Submit service requests.

Opening Bid

The Opening Bid, also referred to as Starting Bid, is the minimum amount required to place the first bid on a Listing. If the Opening Bid is $100, the first bidder must bid $100 (or greater if Limit Bidding applies) to start the bidding.

Out Bid Notice

A system generated e-mail message which is automatically sent to the Current Bidder once he/she is “out bid” by a subsequent Bidder. These messages provide basic Item information and links back to the respective bid form.

For Dutch listings, an “update” e-mail is sent to all “leading” as they existed before the new bid was placed. The associated Bidders are encouraged to review the new, bid list to see if they are still on the list and/or if their position has changed. Please note that “update” e-mails are NOT generated during extended bidding (if applicable).

IMPORTANT: Out Bid Notice e-mails are sent only as a courtesy, and are not guaranteed to arrive in your e-mail in-box prior to the close of the associated listing. It is the responsibility of each Bidder to check the web site for current Bid information.

Proxy Bid

See “Limit Bid”

Registered User

A person who has registered with the web site by agreeing to any associated terms of use and providing the requested information. All user accounts require a valid e-mail address. Active users are allowed to Bid and purchase items.

Recently Viewed Items

The Recently Viewed Items list helps site visitors keep track of items which they have recently accessed. Items are automatically added to the list when the Bid Form (detail page) is visited. This list:

• is created without requiring the visitor to register or log-in.

• is saved for 30 days.

• remembers up to the last 20 items visited.

• is readily accessible by selecting the “Recent View” link in the main menu.

• shows each item’s thumbnail image (if available), title, lot number and closing status.

• provides quick access back to the associated item bid form.

• may be cleared at any time using the “Remove” link associated with each item.

• may be easily added/removed to/from your Watch List (if you are logged in) using the “Watch” or “Unwatch” links.

• requires the user to have cookies on to work.

• is specific to the browser and not an account.

Reserve Price

Barga.ca discourages the use of reserves on all items sold.

The minimum amount that the seller will accept for the item(s) being sold. This price is not disclosed to the Bidders. However, once a Bid (or Limit Bid if applicable) meets or exceeds the Reserve Price, the Bid form will indicate that “the reserve has been met” Reserve Bidding - Reserve Met!. If the bidding level does not meet the Reserve Price, the seller is not obligated to sell the Item to the High Bidder and the Item will be designated with Reserve Bidding - Reserve Not Met!.

For Standard Bidding items with a Reserve Price, there are several important scenarios described below where a Limit Bid is accepted. For Traditional Bidding items with a Reserve Price, please refer to the examples in the Traditional Bidding definition.

• If a Bidder enters a Limit Bid which meets or exceeds the Reserve Price, which has not previously been met, then the Current Bid on the Listing will automatically increase to the reserve amount.

Example 1: The current Bidholder holds the Bid at $50 for a Listing that has a Reserve Price of $100. If the next Bidder places a Limit Bid of $100, the Current Bid will increase immediately to the $100 Reserve Price.

Example 2: The current Bidholder holds the Bid at $50 for a Listing that has a Reserve Price of $100. If the next Bidder places a Limit Bid of $120, the Current Bid will increase to the $100 Reserve Price and the High Bidder’s Limit Bid will be $120.

• Limit Bidding does not apply prior to reaching the Reserve Price.

Example 1: The current Bidholder, A, holds the Bid at $50 for a Listing that has a Reserve Price of $100. If the next Bidder, B, places a Limit Bid of $80, the Current Bid will increase to $80 for high Bidder B. Note that the reserve on the item has not been met.

Example 2: The Bidding opens at $50 for a Listing that has a Reserve Price of $100. If the first Bidder, A, places a Limit Bid of $70, the Current Bid will increase to $70. Note that the reserve on the item has not been met.

• Limit Bidding does apply after reaching the Reserve Price.

Example 1: The current Bidholder, A, holds the Bid at $90 for a Listing that has a Reserve Price of $100. If the next Bidder, B, places a Limit Bid of $120, the Current Bid will increase to $100, the Reserve Price, for high Bidder B who has an undisclosed Limit Bid of $120. In this case, the reserve on the item has been met.

Example 2: The current Bidholder, A, holds the Bid at $120 for a Listing that has a Reserve Price of $100 and a minimum raise of $10. If the next Bidder, B, places a Limit Bid of $150, the Current Bid will increase to $130 ($120 + the min raise of $10) for high Bidder B who has an undisclosed Limit Bid of $150. The reserve has already been met.

• A High Bidder may raise his/her own Current Bid, prior to reaching the Reserve Price, without placing the minimum acceptable Bid.

Example 1: The current Bidholder, A, holds the Bid at $60 for a Listing that has a Reserve Price of $100 and a minimum raise of $10. If Bidder A places another Limit Bid of $65, the Current Bid will increase to $65, for high Bidder A. The reserve on the item has not been met.

Standard Bidding

The Standard Bidding format allows a Bidder to place a Limit Bid (aka Proxy Bid or Maximum Bid) for the maximum amount they are willing to pay for an Item. When a Limit Bid (greater than the Current Bid) already exists on an Item, the system will automatically Counterbid, as dictated by the Bid Increments, on behalf of the Limit Bidder, in his/her absence, up to the Limit Bid amount. This approach helps eliminate the need for the Bidder to continuously monitor the item and/or manually Counterbid each time he/she is out bid.

When a new Limit Bid is placed, which is less than the existing Limit Bid, the High Bid is only increased by the minimum amount (as dictated by the Minimum Raise rules at the new Limit Bid level) required to keep the “limit Bidder” in the lead. In cases where a new Limit Bid exceeds the amount of an existing Limit Bid, the new High Bid will be calculated based on the lesser of the following, i)the sum of the existing Limit Bid and the Minimum Raise at the level of the existing Limit Bid, or ii)the new Limit Bid. Please see the examples below for further details regarding the bidding process.

Example 1: (first bid limit)

Assume there are NO bids on an item and the minimum bid is $100. Since there is NO Minimum Raise required for an item with no bids, Bidder A must bid at least $100. If Bidder A places a Limit Bid of $130 then the High Bid will be $100 with Bidder A the High Bidder. Note that Bidder A has a $130 Limit Bid and therefore “owns” all bids up to $130 if any additional bidding occurs.

Example 2: (existing limit exceeds new limit by more than Minimum Raise)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $150. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a Limit Bid of $120 then the High Bid will increase to $130 ($120 new limit + the $10 Minimum Raise) with Bidder A remaining as the High Bidder. Note that Bidder A still has a $150 Limit Bid.

Example 3: (existing limit exceeds new limit by less than Minimum Raise)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $150. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a Limit Bid of $145 then the High Bid will increase to $150 ($145 new limit + the $5 remaining on the existing Limit Bid) with Bidder A remaining as the High Bidder.

Example 4: (existing limit exceeds new limit by the Minimum Raise)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $150. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a Limit Bid of $150 then the High Bid will increase to $150 ($150 existing limit) with Bidder A remaining as the High Bidder.

Example 5: (new limit exceeds existing limit by more than Minimum Raise)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $150. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a Limit Bid of $180 then the High Bid will increase to $160 ($150 existing limit + the $10 Minimum Raise at the existing limit level) with Bidder B as the new High Bidder. Note that Bidder B will now have a $180 Limit Bid and therefore “owns” all bids up to $180 if additional bidding occurs.

Example 6: (new limit exceeds existing limit by less than Minimum Raise)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $150. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a Limit Bid of $155 then the High Bid will increase to $155 ($150 existing limit + the $5 available on the new limit) with Bidder B as the new High Bidder. Note that in this case Bidder B meets the initial Minimum Raise requirement, but is NOT required to exceed the existing Limit Bid amount by the Minimum Raise at that level.

Example 7: (new limit exceeds existing limit by the Minimum Raise & existing limit >= minimum bid)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $110. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a Limit Bid of $120 then the High Bid will increase to $120 ($110 existing Limit Bid + the $10 Minimum Raise) with Bidder B as the new High Bidder.

Example 8: (new limit exceeds existing limit by the Minimum Raise & existing limit < minimum bid)

Assume the current High Bid on an item is $100 and is held by Bidder A with a Limit Bid of $105. If the Minimum Raise is $10, then Bidder B must bid at least $110. If Bidder B places a bid of $115 then the High Bid will increase to $115 ($105 existing limit + the $10 Minimum Raise at the existing limit level) with Bidder B as the new high Bidder.

Starting Bid

See “Opening Bid”

Traditional Bidding

The Traditional Bidding format allows the Bidder to place a Absolute Bid for the exact amount he/she wishes to pay. Unlike Standard Bidding, Limit Bids are NOT allowed. Therefore, if successful, the High Bid is raised directly to the amount of the Absolute Bid placed.

Traditional Listings may contain an optional Reserve Price. In addition, Traditional Listings may utilize Extended Bidding. Please check the associated Bid Form for details.

Example 1: (no Reserve Price)

If the Starting Bid on an Item is $100 and Bidder A bids $150, the Current Bid goes directly to $150 regardless of the Bid Increment. If the Bid Increment at $150 is $10, then the Minimum Bid is $160. If Bidder B bids $175, then the Current Bid becomes $175 with Bidder B holding the High Bid.

Example 2: (with Reserve Price)

If the Starting Bid on an Item is $100 with a Reserve Price of $200 and Bidder A bids $150, the Current Bid goes directly to $150 (note the reserve is NOT met). If the Bid Increment at $150 is $10, then the Minimum Bid is $160. If Bidder B bids $175, then the Current Bid becomes $175 with Bidder B holding the High Bid (note that the reserve is still not met). If the Bid Increment at $175 is still $10, then the Minimum Bid is $185. If Bidder C bids $200, then the Current Bid becomes $200 with Bidder C holding the High Bid and the Reserve Price is now met.

(This type of bid will rarely be used at Barga.ca)

Username

A Username uniquely and anonymously identifies one bidder from another. A Username is your bidding “handle” or identity. You may change your Username at any time by accessing the Profile section of My Account. A Username and Password provide users with log-in access to the My Account console.

Watch List

The Watch List is a system feature that provides a Registered User the ability to conveniently keep track of items of interest.

• By default, an Item will be added to a Bidder’s Watch List when that Item is bid on. This option may be turned “off” via the Bidder Preferences section within the My Account console.

• An Item can be added to, or removed from, a user’s Watch List by selecting the respective “Watch”, or “Un-watch”, button on the Bid Form.

• An Item can be added to a user’s Watch List by selecting the “+ glasses” icon, , in the search/browse results.

• An Item can be removed from a user’s Watch List by selecting the “- glasses” icon, , in the search/browse results.

• Items contained on a user’s Watch List are identified in the search/browse results by a green tab in the upper, right corner of the image display.

Winning Bid

Once a listing closes, the Current Bid, if applicable, is now referred to as the Winning Bid.

Winning Bidder

The Bidholder who holds the Winning Bid on a particular Listing once it closes. The Winning Bidder is bound by any associated Terms of Use and Policies of the site to complete the transaction with the Seller.

Icon Key

Icon Description
Bidding History Bidding History
Closed Early Closed Early (by administrator)
Bidding Extended on Item Extended Bidding
Top of Category Featured Item Featured Item
Sold via Instant Purchase Sold via Instant Purchase (Closed)
Online Pre-Bid Only (closes off-line)
Bidding Paused on this Item Bidding Paused (bidding paused by admin)
Preview (not yet started/open)
Private (listing available for appoved bidders only)
Standard Bidding Standard Bidding (proxy bidding)