These words mean the same thing everywhere on this site and in these terms.
- Listing
- One item, or a group of items sold together, up for auction. Each listing has its own page with photos, a description, the current price and a closing time.
- Bid
- A binding offer to buy the item for up to the amount you enter. Bids can't be retracted.
- Current price
- The price shown on the listing right now. Every item starts at $0.
- Minimum raise
- The least a new bid has to beat the current price by: $1.99.
- Ordinary bid
- Any bid less than 1.5 times the current price. Its amount becomes the new current price, and if it wins, that amount is what you pay.
- Hidden bid
- A bid at least 1.5 times the current price. Its amount is never shown to anyone else. If it wins, you pay the next highest bid plus $1.99, and never more than your hidden amount.
- Highest bidder
- The bidder who would win if the auction closed right now. On the site you'll see this as "Winning".
- Outbid
- Another bidder has taken the lead from you. You'll see "Outbid", and you'd have to bid again to get it back.
- Soft close
- A bid placed in an auction's last minute adds 2 minutes to its closing time, so it ends only once bidding stops.
- Closing time
- When an auction's timer runs out, including any soft-close extensions. After that, no more bids are accepted and the result is final.
- Winner and winning bid
- The winner is the highest bidder at closing time ("Won"). The winning bid is what the winner pays for the item, before any buyer's premium and tax. Everyone else who bid has "Lost" and owes nothing.
- Buyer's premium
- A percentage added to the winning bid, shown on the listing before bidding opens and itemized on the invoice. A listing that doesn't show one has none.
- HST
- Ontario's 13% harmonized sales tax, added to every invoice except for items marked HST-exempt on their listing (such as investment-grade gold or silver bullion).
- Invoice
- The bill a winner gets once the day's auctions are over: everything they won that day, with each winning bid, any buyer's premium and HST. It's due within 7 days and paid in person at pickup.
- Pickup
- Collecting your item in person at our warehouse. It's where you inspect the item and pay, by Interac e-Transfer, cash or credit card.
- Past Auctions
- The page listing auctions that closed in the last 60 days and what they sold for.
- Bid ID
- The masked label, like "WA****45", that other bidders see in a listing's price history instead of your name.
- Watchlist
- Listings you're following. Bidding on an item adds it to your watchlist automatically.
- My Bids
- The page in your account listing every auction you've bid on and where you stand in each.