martfames

Retracting/Cancelling a bid

Whenever you place a bid, you're agreeing to buy the item if you win the auction.

Unfortunately, due to interesting momentum and excitement that auctioning and bidding brings, neither sellers nor buyers would be able to cancel a bid once a buyer placed a bid

Tip
When sellers remove a bid, we call it cancelling a bid. When buyers remove a bid, we call it retracting a bid. Neither of these options are currently available on MartFame

Automatic bidding
Automatic bidding is the easiest way to bid on an auction-style listing. Simply enter the highest price you're willing to pay for an item, and we'll do the rest.

Once you set up automatic bidding, you can stay ahead of the competition for an item without needing to be on the MartFame site.

How to set up automatic bidding

When you're ready to bid on an auction listing, enter the maximum amount you'd like to pay for the item and select Place bid. We'll then bid in increments on your behalf – enough to keep you in the lead, but only up to your limit.

We'll let you know if someone outbids you and you can decide if you want to increase your maximum bid.

Keep in mind when you're deciding on the maximum amount you'd like to pay that you'll need to pay the cost of postage too.

Tip
Bidding on items can be exciting, but it is a contractual obligation. When you're deciding on your maximum bid, be sure you're happy to pay that amount if you win the auction.

Why you've been outbid immediately

If you get outbid immediately after placing a bid, it's likely another bidder is using automatic bidding, and has a maximum limit that's higher than yours. You'll need to increase your maximum limit in order to be the highest bidder.
Bid increments

When someone else places a bid, which is lower than the maximum bid, we'll place a slightly higher bid on your behalf. The amount the bid increases by is known as a bid increment. Bid increments are smaller when the bid price is low, and larger in higher price brackets.

Setting a reserve price

A reserve price is the lowest price you're willing to sell an item for. By using a reserve price you can set a low starting price for your auction – and boost interest in your item – but without the risk of having to sell your item for less than you think it's worth.
-----------
Are you a buyer looking for information on reserve prices? Read our article on how reserve prices work
-----------

How to add a reserve price to an existing listing

If an existing listing hasn't received any bids and there are at least 12 hours left in the listing, you can add a reserve price. Here's how:

Find your listing in Dashboard -

Reserved price only works for Auctioned Product

A reserve price is the minimum amount the seller is willing to sell an item for. If the reserve price isn't met, the item won't be sold.

Sellers can choose to add a reserve price when listing an item in a MartFame auction. Unless they state their reserve price in the listing, you won't know what it is until you either meet it or bid above it.

If you bid below the reserve price, you'll see a 'Reserve not met' message. This means that even if you're the highest bidder at the end of the auction, you won't win the item.

Sellers can lower their reserve price during the auction or make a Second Chance Offer once it ends. We'll send you a message if either of these happen, so you have another chance to buy the item.

What you need to know
If you see 'Reserve not met' after placing a bid, you won't win the item, even if you're the highest bidder at the end of the auction.

MartFame now offers you unlimited Service to grow your business ONLINE

• Sell anything – shippable products, services, downloads even electronic goods (pdf’s, videos, music files, etc.)
• Sell auction items, vouchers, subscriptions, classifieds
• Control the number of times a digital product can be downloaded
• Create unlimited number of products without any fee or time to renew your product
• Products can be assigned in multiple categories
• Price types - Standard and Free Price, Donation and Link for contact us
• Abandoned cart notification
• Product image zoom

 Other features and functionality that you will benefit from as a Vendor/Seller on MartFame

• Vendors/Sellers can manage all store transactions from their dashboard
• Dedicated Dashboard as Vendor/Seller
• As a vendor, you will have your own unique store logins
• All Vendors/Sellers can manage all store transactions from their dashboard
• Vendors/Sellers can create unlimited number of products without any fee or time to renew your product (MartFame reserves the right to limit the number of products a vendor can create without prior notice)
• All Vendors/Sellers can sell anything: physical products, events, services, downloadables, movies, pictures, templates, music, auctions, vouchers, etc...
• Vendors/Sellers can export Orders
• Vendors/Sellers can copy Products and Options
• Vendors/Sellers can import products, images, and more via CSV format
• Vendors/Sellers can Fulfill orders
• Vendors/Sellers can create Coupons, Gift Certificate, Rebate Offer and Vouchers
• Vendors/Sellers can setup individual shipping gateway
• Vendors/Sellers Defined Shipping Costs: per weight, per cart total price, per product (flat), live using (FedEX, USPS, UPS, etc.),
• Vendors/Sellers can setup specific TAX zones and rates
• Flat shipping rates based on geographic locations
• Automatic order notification to vendors
• Vendors can enter shipment tracking
• Vendors/Sellers can see Inventory Tracking
• Advance vendor statistic reporting right from the vendor area with graphical interface
• Vendors/Sellers can select their store theme
• Vendors/Sellers' terms to setup their own terms & condition, refund policy, etc...
• Vendors/Sellers can setup banners in their store