What is Bid A Dollar

Bid A Dollar is a new method for resellers and other businesses to sell their products and a new way for buyers to optimize their purchases by gaining access to thousands of items that they can purchase or win for $1 bid!

• Buyers
  • Buyers can purchase bid tickets directly to bid on items.
  • Bid A Dollar bid tickets can also be used to purchase any item in the catalog.
  • If the buyer has enough Bid A Dollar bids they can directly purchase any item in the catalog.
  • Buyers also need only bid 1 bid ticket on any item for the chance to win that item!
  • When an item is being bid on it will be randomly awarded to one of the bidders when the full purchase price is reached in Bid A Dollar bids.
  • Since items are listed at a fixed price, if buyers bid > 1 bid they will increase their chances of winning.
  • If an item being bid on expires before enough bids are placed, all bids on that item will return to the buyers who bid on it so that the buyers can reuse them to try to win another item in the catalog.
  • Bid A Dollar is integrated with social media to help inspire others to bid on an items so they will reach their price quicker allowing for a winner to be found before item listings expire.
• Sellers
  • Bid A Dollar allows for sellers to list their items for sale at competative prices to buyers.
    • Sellers sell their products as items that can be bid on by customers with Bid A Dollar bid tickets
    • All items sold through the "buy-now" option will provide a percent of the items processing fee back as a rebate to buyers as Bid A Dollar bid tickets which can be used to buy or bid on more items in the Bid A Dollar catalog.
    • Sellers will compete for buyers by pricing their items competatively.
    • All item prices include estimated shipping costs and any required closing fees so there are no unexpected charges to customers.
    • Seller can sell new or used items
    • Bid A Dollar integrates social media tools to assit in promoting items for sale.
    • For a small fee, Bid A Dollar integrates the tools that provide an Internet scailable bidding system that allow for hundreds, thousands or millions of people to all bid 1 Bid A Dollar bid so that someone (they hope themselves) can be the one to win the item being sold.
  • Listing Expires with active Bid A Dollar bids on it.
    • If the item listing expires before reaching the listed price the seller can sell at the current bid price or let it expire and all bidders receive their bids back to try on something else.
    • If the seller is using one of the non-free stores then they can have their items listings auto-renew (with applicable fees) at their expiration allowing for more time to sell.
  • Listing reaches sale price with Bid A Dollar bids.
    • When the item reaches the listed price a secure background server randomly selects one of the bids as the one to receive the item.
    • The funds for the purchased item will be held in escro by Bid A Dollar to ensure delivery to the customer.
    • After the seller has provided details of customer receipt of item to Bid A Dollar (bonded commercial delivery receipt, end-user signature, winner acceptance in Bid A Dollar or that legal proceedings to transfer ownership have been initiated), then the purchase funds will be transferred to the seller.
    • If the item being sold is property or other high-value item, Bid A Dollar will work directly with any banks or legal entities needed to release funds as required.

Bid A Dollar Is Not

Bid A Dollar is not an auction site: All items are listed at fixed prices similar to a "buy now" price found on auction sites, however unless the seller decides to sell the item early, all items listed on Bid A Dollar will be sold at the fixed price listed. The sellers lists their inventory at competative prices knowing their full costs and expenses for selling without having to hope that their minimum price is met. Buyers know what the price of every item is and at what point it will be closed and awarded to a bidder, unless the seller allows the item to expire and return the buyers bids so they can bid on another item.

Bid A Dollar is not a penny auction site: Penny auctions are huge profit makers for those running them but a huge expense for those who do not bid well. In a penny auction the price goes up by it's pre-determined increment and each bidder pays the entire amount of the bid. For example say a penny auction is selling an iPad worth $350.00. It sells on their site for $100 which is a great deal to the one person who finally got the last bid of $100; but every other bidder is out their entire bid and the prior bids were each $0.01 less than the other (eg: final bid $100.00, bid before that was $99.99, bid before that was $99.98, $99.97 before that and so on, ...). Meaning that the seller is able to receive in some cases more than $5000.00 for an item that sold for $100.00.

At Bid A Dollar, the seller knows in advance what price they expect to receive for an item and every bidder / buyer can expect to pay at most $1.00, unless they decide to increase their chances by bidding more or just purchasing directly if it has not been bid on yet or if the reseller has more in stock.

As long as the seller has an item with more than one in it's inventory or no bids on an item, buyers may buy the item directly and receive Bid A Dollar bids as a rebate or bid 1 Bid A Dollar bid to get a chance to win the item.