Auction - Learn More
Unlimited Real-Time Auctions for just $10 per Year, Flat Rate!
Run as many auctions as you like, there are no commissions or extra fees. We believe this is the most dynamic auction platform on the internet, at a price that is affordable to everyone!
An Auction allows buyers to compete with each other in-order to purchase an item.
How To Bid
Your bid will need to be more than the ‘Current bid’ by a minimum of $1, to be accepted into the auction. You can enter any dollar amount that you choose in the ‘Next bid’ field. If another bid is submitted that is higher than your previous bid, you will immediately have the opportunity to submit another higher bid.
Bids can be made at any time prior to the end of an auction.
'Auto bid' will automatically submit bids in $1 increments above any previous bid, until your maximum bid amount has been reached. If the auction continues above your set ‘Auto bid’ amount, 'Auto bid' will cease submitting bids.
If you are the highest bidder above the Reserve Price when an auction ends, then you have successfully purchased the item using 'Auto bid.'
Reserve Price (Optional)
Many buyers prefer auctions because they believe an auction gives them the opportunity to purchase an item at a bargain price. Auctions beginning at a low price usually attract more interest. Setting a Reserve Price enables the seller to start the auction at a low price, while protecting them from an unsatisfactory sale price.
If a Reserve Price has been set for an auction, then the Reserve Price must be met or exceeded before the item can be sold at auction.
The seller CANNOT change the Reserve Price once the first bid has been made on an auction!
If NO RESERVE price has been set for an auction, the item will be sold to the highest bidder at the conclusion of the auction!
Tips on Bidding
Check carefully the item that you intend to bid for at auction.
Don’t be afraid to check the seller of the item carefully. Make contact with the seller via the seller’s email icon on their SOC Exchange homepage, if you would like further information about the seller or the item that is to be auctioned. Correspondence via the seller’s SOC Exchange homepage keeps your personal information private. Always ask questions!
Use the ‘Auto bid’ facility if you are unable to bid manually or are not able to follow the auction online. The ‘Auto bid’ function makes it more convenient and less time consuming for you to participate in an auction.
Don’t bid on identical items in separate auctions simultaneously, as you may end up being successful at multiple auctions for the same item.
Only bid for items that you feel comfortable with. Set your bid limits and stick to them!
Always trust your judgment and be responsible when choosing to participate in an auction.
Rules for bidding
Once a bid has been submitted it CANNOT be withdrawn. As soon as the ‘Bid Now’ button is clicked or the ‘Auto bid’ function has submitted your authorized bid, you are responsible for payment if you are the winning bidder in the auction.
Sellers list the starting price to an auction. This is the only time that a seller can take part in an auction.
The SOC Exchange prohibits all sellers from using other usernames or using other SOC Exchange members to submit bids on their behalf. If you suspect that ‘Dummy Bidding’ is taking place at an auction please report it.
The SOC Exchange will investigate any breaches of its policies. Any report brought against a Seller or Buyer may result in their membership being suspended or terminated.
At the conclusion of an auction, the successful bidder and seller will have their contact email address ( the email address they use to login ) and their phone number forwarded to each-other, to enable a prompt and efficient transaction!
By bidding on an item, buyers accept the sale, payment and delivery terms / options offered by the seller. Buyers can make contact with sellers to arrange alternatives, but the seller is under no obligation to accept such a request.