What is a Mega-Auction?



Mega-Auctions are an exciting new way to bid on items with PropertyRoom.com! Here's how they work...


STEP 1: How Do You Get Started?
Mega-Auctions have multiple quantities of the same product available within one auction.Add to Watch List and it will automatically be added to your Watch List Directory.
You simply select how many of the available product you want and then place your bid amount. For example, if there are five of an item available, you could choose to place a $10 bid on three of them, leaving the two remaining items available for other bidders. Remember: You have to be logged in on your PropertyRoom.com account to do this.


STEP 2: Then What?
Once all available items in a Mega-Auction have a starting bid placed on them, new bids are attached to the item with the lowest existing bid first.
Let's say that there are five of a specific item in your Mega-Auction. You placed a $10 bid on three of them, and someone else placed a $15 bid on the other two. If a third bidder comes along and places a $20 bid on a quantity of one, that bid would replace one of your $10 bids because your current bid was the lowest, and you would now be the high-bidder at $10 on two of the items.


STEP 3: How does it end?
This process repeats itself, with the lowest current bids being replaced as new bidding occurs, until the clock runs out on the Mega-Auction timer. At that time, you win whatever quantity you are still the high-bidder on.

Mega-Auctions are a blast to take part in, and we're excited to bring this new format to our PropertyRoom.com customers!
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