Set some rules please.
- Till what day and what hour (and what timezone) will this auction run.
- Is there a reserve price?
- What is the minimum bid increment?
- Will you provide support to the buyer for the first X period?
- Is sniping allowed?
I am interested but without clear rules I do not feel confortable to start bidding higher.
Sorry, I do not have much experience with the process involved in auctioning.
- Till tomorrow, IST, 10:00 PM
- Yeah, let's keep the reserve at 0.12
- 0.01
- For first 30 days, running a faucet is not rocket science
so would help whenever there is any issue.
- I do not know what does sniping means in auction, if you would please clarify, I will answer it.
Thank you for the clarification.
Sniping is the process of placing a bid in the very last second hoping the win the auction with the bid. To prevent this often a rule is set in place that extends the auction for (lets say) 15 minutes from the last bid.
So bidding at 9.59.59 extends the auction to 10.14.59. This process keeps repeating until there have been no bids for 15 minutes.
Wow, thank you for explaining sniping
, I do not think anyone would bid on my faucet at the last moment
, but yeah if some thing like that happens then the auction would be extended for 15 more minutes until there have been no bids for 15 minutes. Auctioning is a complicated process
