How does the auction work?
Watch2Wear auctions are based on a maximum bid system (technically called a "Second Price Auction"). When you find a watch you would like to bid on, just enter in the highest amount you would like to spend by clicking the Place Bid button.
If the maximum amount you entered is higher than the bids entered by another bidder, you are now the new high bidder. Watch2Wear automatically "bids up" the auction on your behalf to one bid increment above your closest competitor's highest bid. If your maximum bid is not the highest bid entered so far, Watch2Wear registers your bid, but continues to bid on behalf of the high bidder. Watch2Wear continues to automatically bid on behalf of whoever is the current highest bidder, until auction time runs out.
No matter how high your maximum bid is, the current bid will always increase at a fixed increment scale amount. This ensures that the highest bidder will never pay more than the absolute minimum needed to beat the next highest bidder.
How will I know when I have been outbid?
It will immediately display in the bid window if someone else has a higher max bid than the amount you submitted. If you were the high bidder and you have recently been outbid, Watch2Wear will immediately send you an email to let you know that you are currently no longer winning the auction.
Are there any reserves?
Watch2Wear auctions use a starting price as means of a reserve price. You do have the option to lower your starting price if there are no bids placed.
Where can I see all my current auction activity?
After you register and create an account, you can manage all your bids and offers in the “Buying” section. Within the “Buying” section, it will show all the bids and offers you have placed and their current status.
What are the bid increment amounts?
The bid increment amount is based upon the current live bid on the auction. The increase amounts are as follows:
