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Bidding on Auction Style Products

BIDDING ON AUCTION STYLE PRODUCTS

Jsobs is not a traditional auctioneer, however, we allow some of our products to be listed as an auction-style for buyers to bid on them. Jsobs auction process is not too different from any other auction.

Definitions

Jsobs auction is an online selling method in which goods or products are sold to the highest bidder at the end of the auction. In an auction, there are usually more than one(1) buyer bidding however, there is only one(1) winner.

       A. What is a Bid? A bid is an offer of a price made by a buyer for a product. In order words how much the buyer is willing to pay for the product.

       B.  What is an outbid? When another buyer makes a higher bid or submits an amount higher than the current bid.

       C. What is a product or good? A product or good is the item that is been sold or the item buyers want to buy.

       D. What is a reserve price? Reserve price is the price at which the seller is willing to sell the item. The seller will not sell the item if the reserve price is not met. To make the process fair this price may be hidden from all buyers.

       E. What is an auction history? Auction history shows all bids on the item, including the person with the highest bid.

       F. What is the item condition? Item condition is the condition of the item. The item can be either new or used.

       G. What is time left? Time Left shows the time left for that auction to end.

        H. What are Policies? Policies explain the terms of the seller who is selling the item. This will state the delivery details as well as if returns are accepted. Every buyer buying on Jsobs must read the seller’s policies. By submitting a bid you are agreeing to the buyer policies.

 

HOW JSOBS AUCTION WORKS?

  1. A seller lists a product (for example a laptop) as an auction style.
  2. The seller will set a starting price for which buyers can start bidding.  Buyers can either bid the starting price or a higher amount. Bidding can be done by using either the plus or minus sign to select an amount and then clicking on the Bid to submit your bid. After a buyer bids, his/her amount becomes the current bid.
  3. Jsobs auction is an incremental auction. This means that a buyer cannot bid an amount lower than the current or starting bid. For example, if the starting price or current bid is Gh¢150, buyers who bid afterwards can only submit a bid/amount more than Gh¢150.
  4. You can bid again if another buyer outbids you. That is if a buyer submits an amount higher than yours, to have the highest/winning bid again you can submit another bid higher than the new current bid.
  5. The process of bidding and outbidding continues until the auction comes to an end.
  6. At the end of the auction, the buyer with the highest bid wins the auction, provided it met or exceeded the reserve price. The buyer will receive the laptop after he/she has paid for the item.  Delivery details are stated under the seller’s policies.

I WON WHAT NEXT?

  1. It is now time to pay for the item you won. Usually, if you do not pay after a number of hours (defined by the seller) the item will be sold to the next highest bidder or it will be relisted.
  2. Payments are made on Jsobs by checkout or by clicking the bag icon on the top right of the page beside the heart icon.
  3. At the payment page enter your billing address. This is the address of the person paying for the product. This person may be a different person other than the buyer who won the bid e.g. winning a bid for a friend or family member.
  4. Enter your shipping address. This is the address where you want the item to be delivered to.
  5. After entering the billing and shipping address click on pay by mobile money. On the next page, you will enter your payment details if you are paying with a debit card. If you are paying with a debit card, the billing address should match the address of the debit card owner.
  6. If you are paying directly into our bank account or mobile money wallet, detailed instruction and our mobile money and account information will be displayed on the payment page. Customers who want to use this method should enter momo as the company name during checkout. 

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