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How Does BidKnight Work?

The Concept of BidKnights Penny Auction

The basic concept of BidKnight.com is derived from the classic auctions that have been around for 100s of years. It places the bidder in a position to compete with other bidders in an easy to use, convenient and exciting game atmosphere while providing the opportunity to win (or buy outright) sweet merchandise at pennies on the dollar!

The Auction Basics

Bids cost just $0.60 and can be purchased in Bid Packs at the Bid Pack Store. Once purchased, these bids are stored in your account section of My Account under the My Profile and My Dashboard tabs. Each time you place a bid, it will be deducted from your remaining bids, and will increase the price of the corresponding auction by one cent.  No more than 30 seconds is added to the timer whenever a bid is placed. This allows another user the opportunity to bid if interested. It is just like the auctioneer shouting Going once...Going twice...SOLD! at a traditional auction.

And also just like a traditional auction, you win by being the last to bid. Once you pay the final auction price, the item is yours!

But Wait There is More!

Here is the part that isnt like a traditional auction: If you dont win, you cant reclaim the bids you place. BUT, because we never want anyone to walk away empty handed, we offer a Buy Now feature on ALL of our auctions! When you use our Buy Now feature, we subtract the cash value of the bids you have placed (excluding Voucher Bids) from the value price of the item, and you pay the difference. It is just like buying the item at retail price! So at least you had a chance at getting the item at a discount.

Lets say you spend 30 bids trying to win a $30 valued product, but you dont win. Your 30 bids are worth $18 (30 x $0.60), so if you choose to use the Buy Now, you will only pay $12 more for the product!

Please note that this offer applies to Real Bids only, and that Voucher Bids do not apply to the Buy Now
 option.

 

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How Does My BidButler Work?

 
Sometimes our schedules interrupt our ability to bid successfully for items we love. Nothing worse than gettting a good handle on an auction and suddenly being called away from the action!
 
To assist in those situations, BidButler automatically places bids for you while you are not at the computer and in a more efficient way than other auction sites. BidButler even lets you bid if you are not logged on to our website!
 
Using BidButler guarantees your bid will be placed in the last 20 seconds. You will never have to worry about losing your Internet connection or getting distracted in the final seconds because BidButler will bid as you instruct it to and not go off and make decisions for you on its own.
 
 
BidButler Protocol:
 
  • Bid Butler will bid whenever the timer drops below 20 seconds, though it is up to the BidButler exactly when it will place that bid.
  • BidButler can be set up with a minimum of 3 bids and a maximum of 25 bids at a time.
  • BidButler will start to bid for you as soon as you click the SET button, unless there is less than 2 seconds remaining on the auction clock.
  • BidButler may be deactivated at any point during the auction. Please keep in mind that the number of deactivations will be limited to minimize server load.
  • If an auction ends, all unused BidButler bids will remain in your account.
  • You can only set one BidButler at a time per auction.
  • BidButler cannot be activated on auctions with less than 2 seconds remaining on the auction clock.
 
How to Use:
 
In the BidButler area on the right side of every auction page, simply enter the Bid From price (which is the price you want the BidButler to start placing bids at) and the number of bids you are prepared for it to use. Then select SET.
 
Sit back, relax, and let your BidButler do all the work for you.
 
What about when two or more BidButlers are set to bid in the same price range?
 
If there are two or more BidButlers bidding in the same auction, a bid will be placed sometime in the last 20 seconds just like if there was one Bid Butler bidder. Only one bid from a BidButler bidder will be placed at a time.
 
In order to increase effectiveness, the exact time that BidButler bids varies, it can be anywhere between 0 and 20 seconds. It is randomized to prevent other bidders from knowing if a BidButler is in play.
 
*Please note that while the BidButler function is offered on many of our auctions, it is NOT offered on all of them. If you do not see it on the auction page, you might be looking at an auction where BidButler is not available.
 

 

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How Do I Start Bidding on Auctions?

1. Sign up and Buy Bids

To get in the action, you will need to sign up before you can start bidding on our auctions. Signing up is free, easy and only takes a few minutes. Once you have finished registering with BidKnight, you will receive a confirmation email and then simply follow the confirmation to get your account up and running. It is that EASY!

Bids cost just $0.60 and are purchased in convenient Bid Packs. To make things easy, BidKnight accepts multiple payment methods, including: Visa, MasterCard, American Express, PayPal and BitCoin. Upon purchase you Bid Packs, your bids are then added to your account.

BID KNIGHT REAL BID PACKS:
  •     30 Bids - $18.00
  •     50 Bids - $30.00
  •   100 Bids - $60.00
  •   200 Bids - $120.00
  •   500 Bids - $300.00
  • 1000 Bids - $600.00

2. Find an Auction

We post incredible new deals (at equally incredible savings) every day on our site, from the latest electronics and home appliances to gift cards, bid packages, and leisure items. To find an item you desire you can either view our easy to view auction page or use our search feature at the top left of our home page.

Without leaving the comfort of your home or searching endless online pages you are able to buy a new iPad and a Callaway Iron set at incredible savings in one easily navigated place! Oh, and did we mention the incredible savings! (We probably did but hey, we are kinda proud of that part!)

3. Place Bids

Click the Bid Now button to place a bid. Every time you bid, BidKnight deducts one bid from your account, and adds time to the clock. This allows other users a chance to bid because, well, that is pretty much how an auction works.

And dont worry – if you need to leave your computer in the middle of an auction to use the bathroom, pick your kids up from school, or go swing around and fight crime because you are Spider-Man, you can use our Bid Butler feature to automatically place your bids for you. It is BidKnights convenient version of Autopilot.

Be Responsible for your bidding, make sure you know the value of the product you are bidding for. Many members have taken advantage of BidKnights discount offers to lower their over all bid cost or purchased large bid packs to give themselves as much advantage as possible. There are many opportunities for great deals on BidKnight, just make sure you do not get lured into a bidding war which might cause you to bid to much for an auction or even worse lose an auction you over bid on. BIDKNIGHT expects its members to be mature, experienced and responsible. BidKnight will not take responsibility for your irresponsibility, so please do not request a refund or free product because your over bid or got into a bidding war with other members.

4. Win or Buy Now, and finalize your product!

If you are the last bidder when the timer reaches zero, then CONGRATULATIONS, YOU WIN! From here you may finalize your product and proceed to checkout.

If that is not the case and you have NOT won your selected auction or just want to step up and purchase the item, then you can always use our Buy Now feature.

Yes, by using Buy Now you can purchase any product at any time during an auction and up to two hours after the auction is over. By applying the value of any of your Real Bids placed in an auction from the products listed price, you can Buy Now! This offers you another avenue to get great savings and value by being able to apply your Real Bids used during an auction. Play the way you want to play and know that if you lost the auction, want to step out of the auction action or decide you just want the item, you can still get it at some pretty sweet savings!

5. Paying For the Item You have Won


REMEMBER, IN ORDER TO RECEIVE YOUR WINNINGS, YOU MUST CONFIRM AND PAY FOR YOUR WIN WITHIN 7 DAYS OF THE END OF THE AUCTION!

Payment is just as easy as it was to purchase your Bid Packs! You can pay for your item via PayPal, Mastercard, Visa, Discover, American Express & BitCoin. Please make sure that you pay within 7 days of the end of the auction. We will confirm your payment via e-mail and arrange for the item to be shipped to you.

 

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What is Buy Now?

 (Currently Buy Now feature is not offered until our Voucher Bid feature is released in May 2017) With Buy Now, you can purchase any product at any time during the auction and up to 2 hours after the auction is over by clicking the Buy Now button on the auction page. The value of any Real Bids placed in an auction will be applied to the value price.

Voucher Bids used in an auction will not count toward the Buy Now price.

Keep in mind, Buy Now purchases DO NOT count toward your daily or 28-day win limit.



Because there is no limit to the Buy Now feature, the auction will continue even if a user chooses to exercise the Buy Now option.

You must bid at least once in an auction in order to use the Buy Now option and the Buy Now price will never fall below $0.00 because BidKnight prevents users from spending more in Real Bids than the items value price. For example, you cant place $110 worth of Real Bids in an auction for an item with a $100 value price. On BidKnight, you will never pay more than the value price for a product you want.

Below is an example of how your discount for Buy Now is calculated

Value Price:   $100.00
Discount: Real Bids Placed x Bid Price: 100 x $0.60 = $60.00
Buy Now Price: + Shipping/Taxes (if applicable) $40.00

The Buy Now price will be updated every time you place a bid

* Real Bids are bids that were purchased in a Bid Pack.
* The Value Price is the suggested Retail Price for that item.
* Buy Now purchases are not offered on Gift Cards
* Welcome Bonus Bids (Complimentary Bids) can not be used for Buy Now purchases.
* Only Purchased Bids can be used when exercising the Buy Now Option.

 

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Best Way To Win An Auction?

Everyone wants to know how to improve their chances of winning an auction on BidKnight. There isnt a guaranteed winning strategy, but lets hear what the experts have to say about optimizing your results to help get you started:

Place your bid within the last 5 seconds.

By placing a bid in the last few seconds, you know the time will reset and you will become the highest bidder. If someone else bids, time will be added and you will get another chance to bid.

Focus on bidding on the cheaper products until you get comfortable and win a few items.

You can get some great deals on our most expensive items, however, these items also tend to generate the most competitive auctions. Fewer bidders bid on cheaper items, meaning that you are much more likely to win.

Protect yourself with BidButler.

Bid Butler is a powerful tool when using strategic limits. It can scare away the other bidders because they know that the Bid Butler will always place bids to keep you on top. Your chances of winning are increased, and they know it- which may help you intimidate your competition.

Turn your opponents BidButlers against each other.

Some people set the BidButler and forget about it. It is easy to win if your competition has stepped away from the computer with the assumption that their Bid Butler will fully protect them. We’ve noticed that users tend to set the Bid From value of their Bid Butler to a round number, so use this to your advantage. Wait for a round number and place a single bid after it on the off-chance that the Bid Butler has reached its limit.

Watch other bidders.

View the details of the last ten bids placed and try to figure out:

Who is bidding?
When do they place their bids?
Also you should research the last few auction prices for the item(s) that interest you.


Remember,
 gaining an understanding of how things work and researching trends and patterns will provide valuable insights into a. how successful strategies work and b. how to develop your own bidding (and winning) style!

Be Responsible for your bidding, make sure you know the value of the product you are bidding for. Many members have taken advantage of BidKnights discount offers to lower their over all bid cost or purchased large bid packs to give themselves as much advantage as possible. There are many opportunities for great deals on BidKnight, just make sure you do not get lured into a bidding war which might cause you to bid to much for an auction or even worse lose an auction you over bid on. BIDKNIGHT expects its members to be mature, experienced and responsible. BidKnight will not take responsibility for your irresponsibility, so please do not request a refund or free product because your over bid or got into a bidding war with other members.

 

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How Much Do Bids Cost?

Each bid costs as little as $0.60 and are called Real Bids.


They are available for purchase in BidKnight.

Note: Be aware, BidKnight offers special events which may have special Bid Pack Pricing. Should Bidknight Bid Packs have a special price or discount during an event, if a member has purchased a Bid Pack (s) at regular price within 24hrs of the Event, Bidknight will recognize the last or largest Bid Pack (1) purchase prior to the event as part of the event, adjusting the members Bid Account accordingly.

BidKnight accepts Visa, MasterCard, American Express, PayPal and BitCoin.


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Can Everyone Be A Winner?

 

Yes! At Bidknight.com, even if you dont win the auction, you will never have to walk away empty handed!

At any time after you have placed your first bid in an auction, you may choose to buy the product at a discount using the Buy Now feature. You will never have to pay more than the Value Price for any products on BidKnight, but because of the nature of auctions not everyone. 

 

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