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Collector Island Auction FAQs

Q: What is Collector Island?
A: Collector Island are timed auctions, user earns bids by completing rewards and/or pay-per-bid, and the last bidder when the timer hits 0 wins.
How it works:
1.            Users earns and/or purchase bids
2.            Items being auctioned typically start at $0.00
3.            The price of the item will raise 1 penny per with each bid placed.
4.            With each bid placed, more time will be added to the timer, varies from a few seconds to minutes. 
5.            The last bidder showing when the timer hits 0 is the winner, and has to then confirm their win, pay any final auction price to receive their item.
6.            Some auction sites enforce win limits, make sure you read all terms & conditions carefully. 
 
 
Q: What is a auction timer?
A: A  auction timer is what defines the beginning and end of an auction. Unlike most timers, these timers get time added on to them with each bid. Anytime there is a bid placed in the last 15 seconds, the auction will be extended by 10 seconds.

Q: What is the retail value ?
A: The retail value is the estimated value of the item being auctioned off. Being that our items are collectibles, the retail value is just an estimate of what you could expect to pay in a retail setting and to be used as guide only.

Q: What is a bid price?
A: The bid price, is the price it costs to buy one bid. Most auctions sell these bids in “bid packs” in small groups of bids.  25, 50, 100 and 250 bids at a time.

Q: What is Autobidder?
A: Autobidder will make bids on your behalf within the price range you set, and the number of bids to use. Autobidder will bid at any random time during the auction.
You can set the Autobidder to bid for you:
 
Example;
Starting Bid Price: $2.00
Maximum Bid Price : $2.50
Bids to use: 50
With the above set criteria, the Autobidder will bid for you once the price is between$2.00 and $2.50.
 
 
Q: What are win limits?
A: Win limits are used to keep one or a group of people from dominating a penny auction. They limit the amount a person or user account can win, inside a specified time frame. There is a limit of 1 auction win per day, 5 per month. These limits can be changed with-out notification.
 
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