Knowledge Base : Glossary : Suggest a Question

The process of gathering information about the condition and legal status of items to be sold.

Money held in trust by a third party until the seller makes delivery on merchandise to the buyer.

One user's public comments about another user in regard to their auction dealings.

One user posting fraudulent positive feedback about another user and his or her auctions.

The message board abbreviations for "in my opinion" and "in my honest (or humble) opinion."

An online search by item number. Every lot on an online auction site is assigned an item number.

A contract executed by the auctioneer and seller, authorizing the auctioneer to conduct the sale. It also delineates the conditions of sale and the rights and responsibilities of each party. Also known as an auction listing agreement.

The message board abbreviation for "laugh out loud."

Known, male and female that have produced viable offspring for the seller

The highest price a buyer will pay for an item, submitted in confidence to an online auction site's automated bidding system to facilitate proxy bidding. The system's electronic "proxy" will automatically increase the buyer's bid to maintain the high bid. The proxy bidding system will stop when it has won the auction or reached the maximum bid.

The mandatory starting bid for a given auction, set by the seller at the time of listing.

Short for "negative user feedback."

Auction users who actively attempt to report instances of fraud, such as shilling or bid shielding, to online auction sites.

Short for "no reserve." This indicates in the item description line that the auction has no reserve price specified.

The first bid offered by a bidder at an auction.

To submit a maximum bid that is higher than another buyer's maximum bid.

A male and female fish

To submit a confidential maximum bid to an online auction service's automated bidding system. The system's electronic "proxy" will automatically increase the buyer's bid to maintain the high bid. The proxy bidding system will stop when it has won the auction or reached the maximum bid.

To submit a confidential maximum bid to an online auction service's automated bidding system. The system's electronic "proxy" will automatically increase the buyer's bid to maintain the high bid. The proxy bidding system will stop when it has won the auction or reached the maximum bid.

The relisting of an item occurs when it has not sold within its allotted auction time.