How Bidding at MySell.com Works
REGISTRATION:
You agree to provide, and represent that you have provided, current, true, accurate and complete information in the registration process and represent that you are authorized to use the debt card, credit card, or charge card. You understand, if you are a buyer or bidder, that it is a violation to make bids in a false name or with an invalid credit card, even if MySell, Inc.’s software initially accepts such a bid, or with a credit card that you are unauthorized to use.
BUYER PREMIUM:
All winning bidders will be charged a 6% buyers premium. If winning bidder chooses to pay with check or cash we will waive 3% of the buyer’s premium.
AUTO BID:
Automatic Bidding is setup on all auctions at MySell.com. This allows you as a bidder to enter the maximum value you would like to bid for an item and the site will automatically bid the next increment for you. This helps assure you are the high bidder as long as someone else does not out bid your maximum bid.
The current increment table is as follows
| Current Bid |
Increment |
| $5 - $24.99 |
$1.00 |
| $25 - $99.99 |
$1.50 |
| $100 - $249.99 |
$5.00 |
| $250 - $499.99 |
$10.00 |
| $500 - $999.99 |
$15.00 |
| $1000 - $2499.99 |
$30.00 |
| $2500 - $4999.99 |
$50.00 |
| $5,000 or more |
$100.00 |
AUCTION CLOSING TIMES:
Posted closing times and displays of MySell, Inc.’s current time are approximate. MySell, Inc. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times are based on the time zone where the auction is located.
Dynamic bidding on this website is a feature that does not allow an item to sell at the end of the auction until there is 10 minutes of bidding inactivity. This allows everyone a chance to be the high bidder on all items and prevents "Auction Sniping".
Example - An item is bid on at 7:55 p.m. An auction is scheduled to close at 8:00 p.m. When this bid is placed the ending time will automatically extend to 8:05 p.m. When another bid is place at 8:01 the auction will extend until 8:10 p.m. This will give bidder 9 minutes to place another bid. If no bids are placed this auction will conclude at 8:10 p.m. The key to the dynamic bidding feature is that the auction extends from the preset closing time in 5 minute intervals, not 5 minutes from when you placed your bid.
TITLED ASSETS:
For Michigan residents, MySell, Inc. is required by the State of Michigan to broker all vehicles sold. A $95.00 broker fee will be charged for all vehicles which MySell, Inc. needs to broker. In addition a $15.00 fee for title transfer will be charged. In addition, MySell, Inc. can apply for your plates and registration if you so choose. If you wish to have MySell, Inc. do so, you must provide MySell, Inc. with proof of insurance for the purchased vehicle before you can remove it from the auction site. If not, you must be prepared to tow or trailer your vehicle. The appropriate fees will be added to your invoice. Non-Michigan residents will pay according to their state rules for titled vehicles. Buyers will need to sign the documentation required by the State for title transfers. It may take 4-10 business days to receive your title from the Secretary of State.