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Knowledge Base
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Glossary
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Knowledge Base Glossary
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Glossary Words 1 - 9 of 9
Bid
An indication and offer on an item up for sale at a competitive public auction. Bids are typically made in predetermined increments.
Bid Acknowledgment
A form executed by the high bidder, which identifies the bidder and confirms that he or she won the auction. It also verifies the item's bid price and description.
Bid History
A historical list of all the bids made on a particular auction during or after the auction.
Bid Increment
The amount an item increases in price after each new bid. The seller sets the increment.
Bid Rigging
An unlawful practice in which two or more people agree not to bid against one another in order to deflate the potential value of an item. See collusion.
Bid Siphoning
The practice of contacting bidders and offering to sell them the same item they are currently bidding on, thus drawing bidders away from the legitimate seller's auction.
Bidder Acknowledgment
A high bidder's confirmation that the item for sale was listed at its fair market value.
Bidder Search
An online search that will generate a list of items a user has bid on at an online auction service.
Bidding
To make an offer on an item that is up for public auction
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