How to buy on MyBidMonster? We encourage you to visit the help page, search for whatever information you may need and ask questions if need be.

 

Where do I start?

How many ways can I buy products?

What is the difference between products on auction and “buy now”?

How do you locate the item to buy or bid on?

After you find it, investigate the listing and the seller

After investigating the product.

What to do after you place a bid?

Reserve price not met, what does it mean?

What is automatic or proxy bidding?

How does proxy bidding work?

What is bid snipping?

Communication

How do I pay for the product?

Leave feedback

 

 

Where do I start?

Mybidmonster is your online global market village in your country. To buy an item,

• You MUST first join the site by registering to become a member.
• Locate the item you want to buy and
• Pay for it.

 

How many ways can I buy products?

Using the Buynow option: You can buy and sell either by placing a bid for a product you are interested in or buying products that are posted as “buy now”. Buy now products carry fixed prices.

Using the Auction option: products on auction have to be bid for and the highest bidder within the duration of time wins the auction and pays for the product.  YOUR BID IS A CONTRACT AND CANNOT BE RETRACTED ONCE IT IS PLACED WITHOUT THE CONSENT OF THE SELLER.

 

What is the difference between products on auction and “buy now”?

Products on “buynow” carry a fixed price, you cannot bid for them.  You can buy them out-rightly and pay for them using any of the payment gateways, your online deposit or escrow funding.

 

How do you locate the item to buy or bid on?

• You can locate the item by searching for it through the search box provided on each page.
• By conducting an advanced search using the advance search tab.
• By visiting the category link to locate the product through the category > subcategory or sub-sub category.
• Going through the specific category and looking for what you need.

 

After you find it, investigate the listing and the seller

• Research about the item,
• go through the description and make sure you understand the product description,
• understand the terms of delivery,
• understand the state of the item and
• Every other detail needed for you to come to a buying decision.
• Where you are not clear and have concerns ask the seller questions using the message board.
• Check out the seller rating.
• Check out the seller feedback from other buyers.
• Pay using escrow.

 

After investigating the product.

After you investigate an item and her happy with it, you either place a bid for it or buy now, depending on how the item has been listed by the seller.

 

What to do after you place a bid?

• PLACING A BID DOES NOT MEAN YOU HAVE WON THE BID FOR THE ITEM.
• Use the watch list to monitor the progress of the bid. You will be able to receive notification email or sms notification if a bid higher than yours is placed.
• Ask questions and communicate with the seller.

 

Reserve price not met, what does it mean?

If you see a pop up that shows up telling you that the reserve price has not been met, it means that the seller of that particular item has set a minimum price at which he wants the product sold. If that minimum price is not met the product cannot be sold. As a potential buyer, you will need to put in additional bids and meet the reserve price if you will be able to buy the product.

 

What is automatic or proxy bidding and how does it work?

You can set your bid to proxy or initiate an automatic system where MyBIdmonster bids for you. This helps to ensure that you do not have to come placing bid every now and then. You will be notified when a higher bid is placed for the item.

 

How does proxy bidding work?

For example James has placed a bid of R 100 for an item. Thabang could place a bid of R 500 for the same item. Thabang’s bid will be higher than the next increment for the particular item. Mybidmonster will automatically place bids for Thabang to the tune of R 500. So if James ups is bid to R 250 he will shortly get a notice that there is a higher bid than is.

If James places a bid higher than R 500 Thabang will receive notification that he has been outbid but as long as the bid placed are lower than R 500, Thabang remains the winner of the bidding session.

 

What is bid snipping?

Bid snipping or auction snipping is a term used to refer to a situation where members place bids on an item only some few seconds before the bid ends with the aim of winning the bid. MyBidMonster has an anti-bid snip system in place. Bids will usually end some few seconds or minutes after the stipulated time to prevent bid snipers.

 

Communication

MyBidMonster offers both buyers and sellers the opportunity to communicate using the message board. You will be able to communicate with the seller of the product, ask questions and clear every grey area before committing yourself to buying the product. It is very essential for you to communicate.

 

How do I pay for the product?

• You can pay for the product by using escrow.
• Paying from your online account.
• Paying using the payment gateways provided on MyBidMonster.

Click on the buy now icon and follow the directions to pay for the product. If you are paying for a product you won through auction, follow the link you receive through your email or you can buy the product by going to: my account>buying to be able to pay for the auction won.  
We strongly advise that your make your purchases using escrow. This will help protect you and the seller. Funds in escrow CANNOT be released without your consent. You can release fund when you are satisfied with the item received.

 

Leave feedback

After the entire process and you have received your product, you should leave feedback about your experience with the seller. The feedback system helps to ensure that only the best, real and honest buyers and sellers stay online. It ultimately serves as a referral system for future transactions with members of the MyBidMonster community.

If you have more questions, you can always check out the forum, visit the help page and search for your queries, you can also ask your questions there.

Happy Bidding & Buying,

The MyBidMonster Team