About BuddyBid
BuddyBid is an online auctioning platform, integrated with Facebook to generate business leads and increase sales for business. Customers have complete freedom to create a listing, set an expected bid price, set payment method, and glamorize the product using a complete suite of supporting options, before submitting bid to the outer world. In short BuddyBid offers out of the box auctioning option on top of social media, where not only you can do business, but you can also tap your existing offline customers, generate new customers either by attracting them for bidding, liking, sharing (making a deal viral) or simply making them to follow a bid.
BuddyBid transforms Likes into Sales converting social fans into paying customers and qualified leads. This business model has a huge potential and it's just the beginning, so stay with us for more exciting journey
Introduction Crash Course
Before selling/listing there are few terms which one should be aware of. Here is a quick summary of terms which will be useful as we go along. This example is from one of our advertised auctions. Description of important terms (boxed) is explained below.
| Ref # | Term | Purpose/Feature |
|---|---|---|
| 1 | Bid | Bid is an offer of a price for an article. |
| 2 | Buy Now | Buy Now is an option for immediate purchase. You can choose buy now option in which placing a bid equal to the buy now price and to purchase it immediately. |
| 3 | Current Bid | This is the present value of the article being placed by the potential buyers. You will NOT see Current Bid - if you are the first person who will start bidding |
| 4 | Reserve Price | This is the minimum value which seller expects the article must be sold on |
| 5 | Reserve Met | If the current bid is more than or equal to the reserve price,then reserve met message will be displayed else the reserve not met message will be displayed |
| 6 | Next Bid | This is the next proposed bid which buyer can either accept or place a bid more than the shown bid.
For e.g. In a specimen bid, next bid is showing as $47AUD ,the user can place a bid of $47 AUD or more say $50 AUD. |
| 7 | Auto Bid | To benefit bidders who can't be present when the auction closes, this feature allows bidders to place a maximum limit up to which they are willing to pay. System will automatically place the minimum required bid up to that limit. |
| 8 | Place Bid | Place Bid means placing your quote for that article of interest. This bid price must be more than the current price, to put you above the current leading bidder queue. |
| 9 | Closing time | This shows for how long the bid will remain valid |
| 10 | Time Remaining | This is the time elapsed for the bidding to be closed |
| 11 | Like/Share/Follow | Like - Like the page and share with friends and families.
Share - Share the live auction with friends and families and bring them in for bidding as well. Follow - Bidder can follow the listing if not interested in currently buying it. You can always set a reminder to take keeping updates of the auction. |
| 12 | Bid History | Bid History gives you the list of top bidders for the article; this will help you to understand the buying trend. |
