What does everyone seem to hate? Competition. What does everyone love? Winning! We have been hearing a lot from customers about competition making it difficult to win auctions, and we are happy to announce a feature, Locked Auctions, that we’re sure will better the QuiBids experience and make bidding even more fun for everyone!
What are Locked Auctions?
Locked auctions are a new feature on all QuiBids auctions that allows bidders to win more easily by limiting the competition in each auction. How? We’re glad you asked. 😉 After a certain point, auctions will become locked and only bidders who have been participating will be able to continue placing bids, while all other bidders will be “locked out.”
When browsing auctions, you’ll know which ones are locked because they’ll be labeled with a padlock icon (see screenshot below).
After a certain number of bids are placed, the padlock icon may become locked, and all QuiBidders who aren’t participating in the auction will be blocked from bidding. This keeps the auctions fair because the people who invest the time and money will be the ones who are more likely to win.
Now check out this screenshot:
Notice how the icon is unlocked? This means that the auction has been locked, but you are not locked out! Way to go! Your road to victory just got easier. Others are now watching you with jealousy as you close in on your next great deal.
How do Locked Auctions help the average bidder?
No More Jumpers!
Jumping is another term created by the bidding community to “describe the phenomenon where bidders enter an auction after someone else has placed a considerable number of bids.” After spending a bunch of time and bids on a product, the last thing you want to see is a new bidder jumping in and making the auction last even longer. That’s why with our new Locked Auctions, you can finally say “Goodbye” to Jumpers and super-long auctions!
The random nature of the auctions locking makes the anticipation of the clamp down even that much more exciting! Now there are two reasons to perform a happy dance: one of course when you win, but now a big one when the auction locks!
Easier to Win
We’ve been getting comments from customers telling us that our auctions are simply too hard to win. Now that we have Locked Auctions there will be fewer bidders competing against each other, and the decrease in competition means winning on QuiBids is easier than ever before.
After the auction locks, you can bid with a peace of mind in knowing that no new bidders will be entering your auction. Just sit back, relax, and WIN!
What can I do to make sure I don’t get locked out?
Pass either of these tests, and you’re good to go.
1. Be a Recent Participant
Customers will not be locked out if they have recently bid on an auction. And since the time calculation is based on the Value Price of an auction, an easy rule of thumb is to take the value price and divide it by 3.
For example, on a £100 Value Price auction, if you have placed at least one bid within the last 33 minutes when the auction locks, you will never be locked out.
By being a relatively recent participant in an auction you are guaranteed to never be locked out. Remember, these amounts are based on the Value Price of the auction. So you’ll have less time on less expensive auctions and more time on the more expensive auctions.
2. Invest in the Auction
Customers will not be locked out if they have invested a certain number of bids on auction. This rule holds true even if you have not been a recent participant. Similar to the previous rule, just take the value price and divide it by 3.
For example, on a £100 Value Price auction, if you have placed 33 bids or more by the time the auction locks, you will never be locked out (100/3 = 33.33). Just remember to take the value price and divide it by 3 to know the magic number.
When does an auction lock?
The point in which an auction locks will vary based on factors like the Value Price, the number of bidders, bids being placed, etc.
Because auctions will lock out participants that have not bid for a good while or haven’t invested much in the auction, we have clear guidelines (listed above) to keep from being locked out when the time comes.
Why don’t locked auctions include everyone who has placed a bid in the auction?
When we created Locked Auctions, the last thing we wanted to do is give Power Bidders a new tool to use to beat up on the competition. Instead, we wanted the new feature to create a more fun and even playing field for everyone.
By randomizing when auctions lock and not allowing a power bidder to stay in just by placing a bid or two at the beginning of every auction, we believe that we have solved that problem. If we didn’t take these steps, then power bidders would just place a bid at the beginning and wait around like hungry sharks for the auctions to lock!
When will an auction lock?
Auctions lock at different times based on a number of factors, but mainly it relates to the Value Price of an auction coupled with some randomness. Not every £100 Value Price auction will lock at the same time, but in general, the higher the Value Price, the longer it will take for an auction to lock.
Do all auctions lock?
Yes, all auctions in all markets will now have the Locked Auctions feature.
We created Locked Auctions with the average bidder in mind, and we want nothing more than to make sure you all are happy with our site. So if you’re having a bad experience and feel like you’ve placed a lot of bids and still get locked out, please contact our support and let us know.
Have you bid in a Locked Auction yet? Tell us your thoughts in the comments below!
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