How to Play: Bidzapp Auction Rules
Applicable along with Bidzapp Terms and Conditions
BIDZAPP ONLINE AUCTION TERMS AND CONDITIONS (APPLICABLE ALONG WITH THE BIDZAPP TERMS AND CONDITIONS)
Learn to speak “Bidzapp” (Bidzapp key words & their meaning
Auction Entry Fee: price paid to enter Bidzapp Auctions (Live or Practice)
Bidzapp Regular Auctions – bidding requires BOTH speed AND strategy to win an auction
Bidzapp Classic Auctions – ONLY strategy is required to place a o bid or win. Only one criteria: smart bidding (speed in placing the bid doesn’t matter!)
Bidzapp Private Auctions – are by invitation only – private auctions in the Regular or Classic, format that can be only be accessed with a Bidzapp Private Auction Code (provided with the invitation; the Code is not transferable)
Bidzy Points – reward points Bidzapp gives you to participate in auctions
Bids: opportunities to bid for the auction item. Each time a bid is placed the total number reduces by one.
Bid Window is the counter that opens for bidders to place their bid with the click button. When it opens it shows the current prefixed auction price.
Auction Round: when a Bid Window closes one Auction Round is completed.
Last Accepted Bid: the participant whose bid meets the winning criteria for the Auction Round.
New Bid Window: each new Bid Window that opens after an Auction Round is complete with the Last Accepted Bid .
Total number of Auction Rounds: every Bidzapp Auction has a prefixed number of Auction Rounds. The total number of Auction Rounds will always be a minimum of 20 rounds. Each Bidzapp Auction may have a different number of Auction Rounds.
Final Bid Window – the Bid Window which opens in the final/last Auction Round. When this Bid Window closes the auction also closes unless it goes into a tie.
Bid Increments: The price increase from the Auction Start price to the Bidzapp Auction Price is spread over the total number of Bid Windows for each auction. A Bid Increment refers to the price increase between two Bid Windows. This increase is prefixed. A bidder can view the Bid Increments during the entire auction.
AUCTION ENTRY FEE ENTITLEMENT:
Each individual ticket gives you access to the specified auction only. Upon purchase of a ticket, all users (individuals 18 years of age or older), are entitled to participate in trial auctions.
Tickets are non-refundable (unless Bidzapp cancels the auction) and non-transferable under any circumstance (i.e they are issued and belong only to the registered user/Bidzapp Customer). In case of auction cancellation, Bidzapp will refund the ticket price for the cancelled auction. In case of any change to an announced auction date or time, you will be informed of the change at least 48 hours before rescheduled/ new date or time.
Choose an auction
- There are three kinds of auctions – Bidzapp Regular, Bidzapp Classic and Bidzapp Private Auctions.
- Bidzapp Classic Auctions are skill based where you need strategy.
- Bidzapp Regular Auctions are skill based where you need strategy and speed.
- Bidzapp Private Auctions are by invitation only – private auctions in the Regular or Classic, format that can be only be accessed with a Bidzapp Private Auction Code (provided with the invitation). Bidzapp Private Auction Codes is personal to the invitee only and cannot be transferred
- Every Bidzapp Auction offers brand new products or vouchers.
- The Bidzapp Auction Price of every auction item is the price at which the auction is recommended to close which can be from 10-80% of MRP.
- Auctions are grouped depending on type (Bidzapp Regular or Bidzapp Classic or Bidzapp Private Auctions) and categories as Hot /Today’s /Big or Recommended.
- Choose your auction/s by looking at all this information:
- Auction Type
- – Regular or Classic – open to all;
- PRIVATE, by invitation only and accessed with a Private Auction Invitation Code which is personal to the invitee only and cannot be transferred
- Type of item (such as “Swiggy money voucher Rs. 1000” or “Honda Activa 6G”)
- Product Specifications (click on the auction item)
- Date, time of auction and the applicable Auction Entry Fee payable to enter the auction
- MRP, Auction Start Price and Bidzapp Auction Price
Pay your Auction Entry Fee – click “Buy Now”
- To enter a Bidzapp Auction, you need to be 18 years or older, living in India and you need to pay the Auction Entry Fee.
- Click “Buy Now”; pay online (credit/debit cards/ UPI transfer).
- You can also choose to use your Bidzy Points towards buying your Auction Entry Fee.
- One (1) Auction Entry Fee gives you:
- ACCESS: Access to unlimited free Practice Auctions to learn how to play.
- AUCTION ROOM ENTRY: Single entry to the live auction of the item you choose, on the scheduled date and time ;
- BIDS: Maximum of 10 bids for Bidzapp Regular auctions (bids cannot be transferred or carried forward to another auction); or in Bidzapp Classic Auctions, the same number of bids as the number of Auction Rounds.
- Every time you purchase an Auction Entry Fee, you can view all your upcoming and past auctions under the “My Auctions” in your Bidzapp dashboard.
Remember: Every Bidzapp Auction is unique so the Auction Entry Fee for every auction is not the same. The price of the Auction Entry Fee is marked in the “Buy Now” button. For example, the Auction Entry Fee for a “Big” auction item such as a Honda activa 6G could be Rs. 199 and the Auction Entry Fee for a “Hot” auction item like a Swiggy voucher could be Rs. 10.
Practice Auction – the best way to get started
- When you pay the Auction Entry Fee you also get access to our Practice Auctions.
- It is free! You do not use the bids you got when you paid your Auction Entry Fee (bids are only used in a Live (actual) Auction;
- It is unlimited – you can try out as many Practice Auctions as you want; and
- It gives you the experience of all types of Bidzapp Auction formats and sharpens your Bidzapp Skills
- The auction item shown in a Practice Auction is only for illustration purposes (as an example)
- The winner in a Practice auction will not receive the auction item shown in a Practice Auction
Real/ live auction
- Always enable Bidzapp notifications to receive alerts about your auction start time and date. You can also view your auction schedule under “My Auctions” on your dashboard.
- When the auction starts: remember: your bid skill is tested.
The total number of bids per Auction Entry Fee changes based on the kind of auction
- For Bidzapp Regular Auctions, every Auction Entry Fee gives you and everyone in that auction the same number of bids. Everyone gets to make 10 bids or less (based on your bid skill!) and speed matters.
- For Bidzapp Classic Auctions, you have the same number of bids as the number of Bid Rounds, (here speed doesn’t matter)
The total number of Auction Rounds is not known till auction starts: the number of Auction Rounds for each auction is different. Part of Bidzapp skill and strategy is deciding y when to use your bids ( Bidzapp quick tip: look at the total number of Auction Rounds!)
Examples of how it works:
- Bidzapp Regular Auctions – Here one auction might have 24 Auction Rounds/Bid Windows, and another may have 48. It simply means that you and every other participant in that auction has 10 bids (opportunities) because of your Auction Entry Fee to place one bid at a time, every 15 seconds in any of these 24 or 48 Bid Windows for Bidzapp Regular Auctions. Remember, the fastest bid matters and you have to decide when to place your 10 bids!
- Bidzapp Classic Auctions – here one auction might have 24 Auction Rounds/Bid Windows and another may have 48. It simply means that you and every other participant in that auction has 24 bids or 48 bids (opportunities) because of your Auction Entry Fee to place one bid at a time every 15 seconds in any of these 24 or 48 Bid Windows for Bidzapp Regular Auctions. Remember here you have as many bids as the number of Bid Windows!
Win the auction
There can be only ONE winner per auction. The winner will receive a Bidzapp Congratulatory message at the end of an auction.
BIDZAPP REGULAR AUCTION WINNER
An auction can end in one of two ways – when the final bid window is used or when the final bid window is not used. So a Bidzapp Regular Auction can be won in one of two ways!
- Scenario One Winner( When the FINAL Bid Window is NOT USED but any one/some or all of the other Bid Windows are used):
The fastest bid in any Bid Window, except the Final Bid Window, becomes the Last Bid Accepted. This simply means, if nobody bids in the next new Bid Window that opens during an Auction Round,, then the Last Bid Accepted Wins! Winner gets the product at the price displayed
Scenario Two Winner (Final Bid Window is used)
The winner would be:
- the one with least number of bids remaining; if there is a TIE
- fastest average bid time, else
- when you bought the ticket is used in that order for the tie breaker.
- In case of a tie: both/all winners get the product at the Bidzapp Auction Price ee (if all the rounds have been completed or at whatever the price the Auction is at when the tie happened).
BIDZAPP CLASSIC AUCTION WINNER
Last person standing wins!! An auction can end with one clear winner or there could be a tie which needs to be resolved.
- Scenario One Winner: Auction ends at the Bidzapp Auction Price or whatever the price the auction is at, if there is only ONE person who has bid in the previous window and nobody has bid in the current window.
- Scenario Two – TIE : In the case of a tie – which can happen during any bid window in the auction
- if there is a tie, then all the bidders get a chance to bid an amount at which they want the product
- highest bid price put in else
- timestamp of ticket purchase
- In the case of a tie, the winner gets the product at the price he/she bid for it post the tie.
(Example,Bidzapp Classic auction item: “Swiggy Money Voucher – Rs. 1000”; will show you: MRP (Rs. 1000), Auction Start Price (e.g., of Rs. 25) and “Bidzapp Auction Price” (e.g., Rs. 500) –this means the auction will start at Rs. 25 but will end at Rs. 500 or less if there is only one bidder in a window. If there is a tie, then the person with the highest bid will win. The winner is guaranteed to receive the Swiggy Voucher worth Rs. 1000 for the Bidzapp Auction Price unless there is a tie, where it is then at the price that the winner would like to pay for the product. Clicking on the auction item ( e.g. “Swiggy Money Voucher – Rs. 1000) – gives you additional details such as product specs such as where the voucher can be used; its validity period etc.)
(Example,Bidzapp Regular auction item: “Swiggy Money Voucher – Rs. 1000”; will show you: MRP (Rs. 1000), Auction Start Price (e.g., of Rs. 25) and “Bidzapp Auction Price” (e.g., Rs. 500) –this means the auction will start at Rs. 25 but will end at Rs. 500 even if there is a TIE. The winner is guaranteed to receive the Swiggy Voucher worth Rs. 1000 for Rs. 500 or less! Clicking on the auction item ( e.g. “Swiggy Money Voucher – Rs. 1000) – gives you additional details such as product specs such as where the voucher can be used; its validity period etc.)
Claim your win
- Follow the instruction in the congratulatory message
- Auction Confirmation Note will give you product details
Bid Disqualification and Cancellation:
- If Bidzapp is notified of any attempt or use of malpractice, manipulation or use of any technical tools, mirroring of Bidzapp auction to place bids, or use of API or any automated bidding process or breach of intellectual property rights of Bidzapp such as reverse engineering, to place bids or win an auction, Bidzapp reserves all rights and remedies available in law to recover damages and costs to the fullest extent available under law at the sole cost of those in breach of these provisions (including Bidzapp and auction terms and conditions).
- In addition, to the above the bid will be cancelled, and the responsible party or parties will be debarred from any future Bidzapp Auction.
- Bidzapp reserves the right to disqualify a bid/ bidder (past or present), at any time, including after acceptance of the bid, or issue of the ACN or delivery of the auction product. for any of the above or breach of Bidzapp Terms and Conditions (including for entering Bidzapp auctions by using a Private Auction Bidzapp Codes by any one other than the person invited to the Private Auction) and recover all costs, losses, and damages associated with such disqualification and cancellation.