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YNOTBID'S GLOSSARY
Bid Increment
The amount that bids increase. Increments are set by the seller when they list an item for sale. Bid increments can be any value from $0.01 and up.
Category
There are many different categories that you can list your item under. Putting your auction in a category helps potential buyers find it when they are searching. Choose the most appropriate category for your item.
City
The city where your item is currently located. For example, you might live in Vancouver but also have a home in Seattle. If you are selling something from your home in Seattle, you enter Seattle, not Vancouver.
Country
The country where the item is.
Currency
The denomination of money that your auction will be in. The currency does not have to be the same as your country's currency.For example, you may choose the US Dollar eventhough you live in Canada, or elsewhere.
Description
Type in a description of the item that you are selling. Explain the color, size, quality, etc. of the item. Give enough information about your item so that a potential buyer has the confidence to bid. More information is definitely better.
Dutch Auction
A single auction with many identical items for sale. More than one bidder can buy items in a dutch auction. Dutch auctions are very useful for businesses. The dutch auction feature will be available in the future.
Length of Auction
The number of days the auction will last, from 1 to 21 days.
Maximum Bid
The most you are willing to pay for an item. When you are bidding, you enter the maximum amount you will pay for that item. YNotBid will bid on their behalf up to your maximum bid. For example, suppose the current bid is $50 and the bid increment is $10. The next bid will be $60 ($50 +$10 = $60). If a bidder is willing to pay $100, the bidder enters $100. Their bid will only be $60 because that is the next bid, however if another member outbids their $60 bid (by bidding $70 or more), YNotBid will bid for the first bidder again, up to the $100 maximum bid.
Member Rating System
A feature on YNotBid that members use to rate the integrity, honesty and performance of other members that they have dealt with. Members ratings are displayed as faces beside their username.
NR
Abbreviation for No Reserve. NR is used in an auction's title to show that there is "no reserve bid".
Opening Bid
The amount of the first bid which starts the auction.
Password
Your secret code. You choose your own password on step 3 of the registration process. The safest and most secure passwords are ones that have letters, numbers, symbols, and small and capital letters. For example, "tRee&3".
PIC
Abbreviation for picture. PIC is used in an auction's title to show that there is a picture of the item being auctioned.
Picture's URL
The location on the internet where the picture you want to add to your auction. Begins with "http://" For more information on adding pictures to your auction click here.
Province/State
The province or state of the city where the item is.
Quantity
The number of items that you are selling together in the auction. If you are selling two computers together (ie. the buyer is buying both computers), then you enter "2".
Reserve Bid
Optional. The minimum price that the seller will sell an item for. The reserve bid is meant to be used when you want to begin your auction at a price that is less than the price you will sell your item for. An auction that has a reserve bid has a message in the bidding area of the auction saying, "The reserve bid has (or has not) been met." The reserve bid amount is hidden from bidders.
Title
The name of the item. The title of your auction appears in 2 places: it appears in the search results, and in blue title bar at the top of your auction.
Username
Your name on YNotBid.com. You choose your username when you register. Many members use usernames that give them anonymity.