Q: What is the "BidoPrice"?

[forumuser]

What is the "BidoPrice"?

[admin]

The "BidoPrice" is the reserve price. It's the minimum amount a seller is willing to accept to sell an item in an auction (Learn more). Items are typically voted in to auction based on their BidoPrice. The BidoPrice of items that make it through voting to auction, reflects thus also a likelihood for the item to sell for that price.

Auctions where the BidoPrice is at the level of the suggested minimum bid of Bido site (currently $18), are also called NO-RESERVE auctions. In such auctions any bid placed wins the item once the auction ends provided it is the highest bid. Where the current bid at the end of the auction is lower than the BidoPrice, Sellers are given 24 hours to choose to accept the high bid instead of the BidoPrice, and the item is then sold to high bidder even that the BidoPrice was not met.

Buyers may also place a bid at the amount of the BidoPrice while an item is not yet at auction but awaiting votes (i.e. in the "Vote, Send-to-Auction" tab ), and by that, send an the item to a shortened, 24-hours long, auction. That auction will start exactly at the time that the bid was placed and will end 24 hours after that.