How The Penny Auction Works

Penny Auction Overview - This Is Where It Starts!!!
> !!!!! - READ FIRST - !!!!! !!!!! - READ FIRST - !!!!! !!!!! - READ FIRST - !!!!! >
How This Works
(And Additional Member Rules, Terms and Conditions)
>> GENERAL OVERVIEW (FIRST - SOME IMPORTANT INFORMATION):
THE FOLLOWING IS ADDITIONAL MEMBERSHIP RULES, TERMS AND CONDITIONS AND ARE MADE PART OF THE MEMBERSHIP RULES, TERMS AND CONDITIONS, AND BY REGISTERING TO JOIN YOU AGREE TO BE BOUND AND ABIDE BY THESE ADDITIONAL MEMBERSHIP RULES, TERMS AND CONDITIONS.
> Before you start reading below, let us be clear on one main reason this penny auction exists... TO RAISE MONEY FOR RELIGIOUS AND CHARITABLE ORGANIZATIONS. This is a "donation-based" program where whoever participates in a penny auction to try to buy an item / product at a price lower than the retail price, when they pay their money to place a bid, they are donating to the sponsored religious or charitable organization which is listed on the "About Us" page. Even though the bids are actually donations to the sponsored organization, in the event you do want a refund and it pursuant to the Member Rules, Terms and Conditions that you agreed to, we will refund your money. > - IMPORTANT - REGISTERING ONLY FOR FREE BIDS: This is a donation site. When you register to become a member of ISGcharitybids.com, you will receive 5 free bids, with an exception. To minimize fraud and to make the playing field and competition level, the free bids will not work or be activated until you purchase a Bid Pack (of any amount). > - IMPORTANT - REGISTERING E-MAIL ADDRESS & STREET ADDRESSES: Your e-mail address and your street/mailing address are verified through a verification process, and your account will be de-registered or blocked until a valid and verifiable e-mail address and street/mailing address is registered on your account (sorry folks, State and Federal Government Regulations). > - IMPORTANT - SUGGESTIONS OF NEW PRODUCTS: In your Member Area Account , there is an area where you can make a suggestion of a product you would like to see ISGcharitybids put up for auction. - IMPORTANT - "HIGH TICKET" ITEM ONLY UP FOR BID: ISGcharitybids only offers for penny auctions only items / products ("items"" or "item") that have a Retail Price of one thousand dollars ($1,000.00) or more. > - IMPORTANT - "DEBIT / CREDIT CARD USE, PERSONAL INFORMATION, PURCHASE OF BIS PACKS, AND ACTUAL CHARGES: As with all electronic purchases, ISGcharitybids requires credit / debit card and personal information to register to sign-up for an account to start bidding. When we state a price or cost, or you are required to add your credit / debit card and we say something that a "get a Free Trial and your credit / debit card will not be charged unless you want to continue after the free trial but the free bids are for free and you will not be charged for them", or we say "you get free bids", or we state a cost or price... that is what it is!!! No hidden agenda! No hidden costs! No sly charges! ISGcharitybids will never, ever charge your credit / debit card without your authorization, or if we say we will not charge it, then... we will not charge it! Period!!! > 1.0 WHAT ARE PENNY AUCTIONS 1.1. Penny Auctions" are true auctions, but with a unique twist that differs from a "Conventional Auction". The difference between a conventional auction and a penny auction is that in a conventional auction, the person that wants to raise the bid just raises their hand. If no one bids higher, they win the bid and only pay what the price of the item at the end of the bid. In a penny auction, each time a person places a bid, they have to pay to place that bid. Everyone pays to place a bid. The people who do not win do not get their money back unless the penny auction was incomplete, invalid or there were no winners. Further, the penny auction is on a timer from a few minutes to a couple of hours to a couple of days (depending on the penny auction item). When the timer starts, the bidding starts. On a direct count-down timer, every time someone places a bid, the timer returns to its starting point and begins counting down again. At the end of the bidding process (when the timer finally hits zero (00:00)), whoever is the last bidder, wins the bid and has to pay for the final price of the item. Some items penny auctions are on a count-down timer and some are on a set time. In penny auctions, if you do not win the bid, you do not get a refund. Penny auctions are a fun way to try to get big ticket items at reduced prices, and a fun way to donate while having fun in competition. Below is a more detailed explanation...

2.0  TYPES OF PENNY AUCTIONS - TIMING
2.1  The first thing you need to know is the types of Penny Auctions www.isgcharitybids.com offers:
(a)  General Auction:  This is a penny auction that is 24 hours or longer.
(b)  Limited Power Auction:  This is a penny auction that lasts from between 7 hours maximum to 3 hours minimum.
(c)  Power Auction:  This is a penny auction 3 hours or shorter in time and is a fast-paced, competition penny auction.
3.0  ITEMS/PRODUCTS OFFERED IN THE PENNY AUCTIONS
3.1  The the items and products ("items") offered for bid are what are referred to in the general consumer market as "high-ticket" items such a cars, boats, AT Vs, motorcycles, watercraft (jet skis), jewelry, watches, gaming computers, big screen televisions, vacation and travel packages, casino travel packages with chips, and other higher-priced items.
4.0  CATEGORIES OF ITEMS
4.1  There is a link at the top of the web site just under the heading banner that lists "Categories".  Here you will find a listing of the different product categories of the items up for bid or upcoming items that will be up for bid in the near future.
5.0  UNDERSTANDING THE PRICING STRUCTURE
5.1  There are three main prices that you need to understand:
(a)  Retail Price:  The retail price is the average, street, manufacturer's or book value of the item if purchased from a retail store or outlet or according to a value by recognized appraiser in the industry of the item up for bid.  This is the retail sales price if you were to buy the item for cash.  This Retail Price is listed on the specific page for the specific item up for bid.
(b)  Reserve or Surprise Buy Now Button Price:  This is the price that needs to be met through the bidding process before the Surprise Buy Now button activates waiting for a bidder to hit it to win the item.  This Retail Price (or also referred to as the "Surprise Buy Now Button Price") is listed on the "Items Coming Up For Auction" page for the specific item up for bid or coming up for bid.  Please read the "Items Coming Up For Auction" page an know what the Reserve or Surprise Buy Now Button Price is and be prepared to hit the button to win the bid.
(c)  When a bid is placed, the bidder cannot raise the price of the item, it is raised automatically (increases) by one penny (0.01¢) per each bid.
(d)  If the Reserve Price is not met, the penny auction will be declared "no winner" and all bids will be refunded.
6.0  UNDERSTANDING THE "NO WIN" SITUATION AND REFUNDS
6.1  For all penny auctions with a winner, there will be no refunds.
6.2  For all incomplete, invalid, interrupted and no-winner" penny auctions, all bids will be refunded. > 6.3 For full Refund Policy, please visit the Member Rules, Terms and Conditions page.

7.0  TO WIN AND RECEIVE ITEMS
7.1  If you are the winning bidder, you must have included all of the personal information when you registered your membership account.  It is your responsibility to provide complete profile and other requested information.  In the event you are the winning bidder and your profile information is incomplete or cannot be verified, you automatically forfeit the winning bid.
8.0  JOINING AND BIDDING
8.1  To join, just register and purchase bid packs, then choose the penny auction to participate in.
8.2. Now, before anyone can bid, they have to purchase what are called "bid packs" in advance before the penny auction starts.  The bid packs are credits purchased for money in increments of $20, $50, $100, and up. The penny auction operator has the discretion of setting purchase prices for bid packs.  The person must buy a bid pack to allow them to start bidding.  Once they have used up their money credits in their bid packs, they are no longer able to place a bid and if they want to keep bidding, they will have to purchase additional bid packs.
8.3. Every time a bid is placed, the price of the item increases by only 0.01¢ (cent).
8.4. Once the timer starts you, the bidder, can start bidding and, if the penny auction is on a timer, every time a person makes (places) a bid the timer automatically is reset to the beginning minute mark.
8.5. A “SURPRISE BUY NOW” button will be set to show on the screen once the minimum amount to be reached is set.
8.6. The last person to place a bid when the timer hits 00:00 or is the first to press the “Surprise Buy Now” button wins the bid and has to pay for the item.
rev3(d) 07-10-2019 9:00 P.M.
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