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this auction glossary page
Glossary of
Online Auction Terms
A comprehensive resource of auction
jargon commonly used on
eBay, Yahoo and other online auction sites.
About
Me Page: A personal eBay page about the seller's eBay business. If the seller
has an About Me page, you'll see the 
icon next to the their eBay ID. You can click on the icon to view the eBay sellers's
personal page.
Administrative Cancellation: Bid cancellation
by eBay due to administrative circumstances, such as when a bidder becomes unregistered.
AG:
Acronym for About Good. Auction term used to describe the condition of
an item on auction. Acronym is usually used in the auction title to save space.
A/O:
Acronym for All Original. Auction term used to describe the condition of
an item on auction. Acronym is usually used in the auction title to save space.
"As
Is": Items that are sold on auction without warranties as to the condition
and/or the fitness of the property. Items may be broken or have missing parts.
Also known as "As Is, Where Is" and "In Its Present Condition". Special Note:
"As Is" items are usually not returnable... and are non-refundable.
Auction:
A method of selling property in an online forum through open and competitive bidding.
Auction
Description: Auction copy that describes the item for sale.
Auction
Listing: Auction description with seller's terms and conditions that explains
the responsibilities of each party to finalize the sale.
Auction
Listing Agreement: A contract executed between eBay and the seller that authorizes
the seller to conduct the auction and sets out the terms of the agreement and
the rights and responsibilities of each party.
Auction Management
Software: Software and/or online services for online auction sellers (i.e.:
Auction Hawk, AuctionWorks, eBay Turbo Lister, Vendio, etc.)
Auction Price:
The price of the item for sale is obtained by the highest bid at the close of
the auction.
Automated Winner Notification: E-mail replies
and/or form letters that are prompted at the close of auction and are automatically
sent to auction winners. Examples: eBay and PayPal Winning Bidder Notification.
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BC:
Acronym for Back Cover. Acronym is usually used in the auction title to
save space.
Bid: A prospective buyer's offer of a price
he or she will pay to purchase an item that is listed on eBay. Bid prices are
accepted in standardized increments established by eBay.
Bid
Cancellation: The legitimate cancellation of a bid on an item by a seller
during an auction.
Bidder Search: An eBay search function
that shows all items an eBay member has bid on in the last 30 days.
Bidding:
The act of placing a bid on an auction listing. You must be a registered eBay
member to bid.
Bid History: An eBay historical list
of all the bids made on a particular auction listing (during or after the auction).
Bid
Increment: This is the amount by which you must increase your bid over the
current high bid. The bid increment is established by the former bid price.
Bid
Retraction: The legitimate retraction of a bid on an item by a bidder during
an auction.
Bid Rigging: The unlawful practice whereby
two or more people agree not to bid against one another so as to deflate value.
Bid Shielding: Posting extremely high bids to protect
the lower bid of an earlier bidder, usually in association with the bidder who
placed the shielding bid.
Bid Shilling: Fraudulent bidding
by an associate of the seller in order to inflate the price of an item. Also known
as bid rigging or collusion.
Bid Siphoning: Other sellers
contacting bidders and offering to sell them the same item they are currently
bidding on, thus drawing bidders away from the legitimate seller's auction.
Big
Ticket Items: Items with bids of $5000 or more.
BIN:
Acronym for Buy It Now. Auction term used to define item that you can buy
right away without waiting for the auction to end. Acronym is usually used in
the auction title to save space.
Blocked Bidders: eBay
feature that allows sellers to create a list of specific eBay members who are
not allowed to bid on or buy items they sell. A person on the list will be blocked
from participating in all of the seller's auctions.
Bulk
Loading: Sellers can upload and list a group of different auctions all at
once using auction management software.
B&W: Acronym
for Black and White.
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Cancelled
Auction: eBay Seller may cancel an auction under special circumstances (i.e.:
If auction item has been damaged, is no longer available, or if there is a problem
with the auction description).
Cancelled Bid: Seller
may cancel bids under special circumstances. Bidder can also request the seller
to cancel or retract his or her bid.
Category Listings:
eBay auctions listed by category such as Antiques, Books, Computers, etc.
Caveat
Emptor: A Latin term meaning "Let The Buyer Beware!" A legal maxim stating
that the buyer takes the risk. Buying Tip: Protect yourself by bidding
on auctions from eBay sellers who provide a warranty, guarantee or refund policy.
Change
Registration/Password: eBay users may change parts of their account profile,
such as email address, mailing address and password.
Charity
Auction: An auction where the seller's proceeds from winning bids are donated
in whole or part to a charitable organization.
COA:
Acronym for Certificate of Authenticity. Auction term used to describe
an item as genuine (usually certified by an expert). Acronym is usually used in
the auction title to save space.
Completed Auctions:
eBay page where users can view auctions that have ended during the last 30 days.
Conditions
of Sale: The terms and conditions that individual sellers use to govern the
conduct of an auction, including acceptable methods of payment, payment timeframe,
shipping costs, ship-to countries, reserves and any other limiting factors of
an auction. If a bidder does not abide by the seller's terms, the seller can withdraw
the item and report the bidder to eBay as an unwelcome bid.
Contact
Information: eBay users must provide contact information when they register
to buy or sell on eBay, including their name and address. All registered users
must have valid and current contact information on file.
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Deadbeat
Bidder: A winning bidder who does not pay for the auction item. Deadbeat bidders
are usually reported to eBay by the seller in order to recover all auction administration
costs, including eBay listing fees and final value fees. Seller has the ability
to block all future bids from that eBay user.
Due Diligence:
The process of gathering information about the terms and condition of items to
be sold.
Dutch Auction: Auction format for selling multiple,
identical items at same time. Bidders choose the number of items they want...
and how much they want to bid. The final price is determined by the lowest bid
among all the winning bidders. The highest bidders win, but pay the lowest bid
price.
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eBay
Announcement Boards: Special pages where eBay posts current news and information.
You'll find announcements about new features and promotions, policy changes, special
event information, and notices about system issues.
eBay
Radio: Radio - Tune in and learn what's new on
eBay.
eBay Shop: The eBay
Shop - Officially licensed eBay products (from eBay apparel to collectibles).
If you love eBay... you'll really like this store!
eBay
Site Map: Site Map - A to Z eBay site map with
search feature.
eBay Store: Look for this clickable
icon 
to find an eBay member's online store. Most eBay Stores include Store Inventory
items - additional fixed price (Buy It Now) items that don't normally appear in
regular search results and categories on eBay (except in special cases). This
means you have access to additional items you won't find in a regular eBay search...
when you search or browse an eBay Store.
eBay Toolbar:
FREE Toolbar for quick, easy eBay access
from your desktop to help you keep track of the items are watching or bidding
on and also helps you spot spoof websites.
Escrow: Third
party company that holds payment in trust until the seller makes delivery of merchandise
to the buyer.
EX: Acronym for Excellent. Auction
term used to describe the condition of an item on auction. Acronym is usually
used in the auction title to save space.
EXMT: Acronym
for Excellent-Mint. Auction term used to describe the condition of an item
on auction. Acronym is usually used in the auction title to save space.
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F:
Acronym for Fine.
FAQ: Acronym for Frequently
Asked Questions. A list of questions with answers.
FB:
Acronym for Feedback.
Feedback Reply:
eBay buyers and sellers can make comments on any feedback they receive.
Feedback
Score: Represents the number of eBay members that are satisfied doing business
with a particular member. Scores are determined by the percentage of positive
rating verses the number of negative rating by eBay buyers.
Federal
Trade Commission (FTC): The Federal Trade Commission enforces federal consumer
protection laws that prevent fraud, deception and unfair business practices. Whether
combating telemarketing fraud, Internet scams or price-fixing schemes, the FTC’s
primary mission is to protect consumers. For more information, go to the FTC's website.
Final
Value Fee: An eBay administration charge per auction for providing services
to the seller. Final value fees are determined by a percentage of the final gross
price of the item.
Freight: Items that exceed the maxium
weight or size requirements for shipping by standard parcel carriers.
Freight
Carrier: Companies that specialize in shipping heavy or oversized items. Freight
prices are determined by the items size, weight and the delivery location. Examples
of US freight carriers: Roadway Freight,
Yellow Freight, and Saia
Freight Company.
FVF: Acronym for Final Value Fee.
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G:
Acronym for Good. Auction term used to describe the condition of an item
on auction. Acronym is usually used in the auction title to save space.
GMMT:
Acronym for Gem Mint. Auction term used to describe the condition of an
item on auction. Acronym is usually used in the auction title to save space.
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HP:
Acronym forHome Page - the first page on a website.
HTML: Acronym for HyperText Markup Language - the language or code
used to create web pages.
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International
Council of Online Professionals (iCop): iCop™ is an organization for
online businesses that sets the industry standard of business ethics and consumer
protection. You can go the iCop website and download a free copy of the iCop Membership Directory (for over
700 online business you can trust).
International Freight:
Companies that specialize in shipping heavy or oversized items to overseas locations.
Freight prices are determined by the items size, weight and the delivery location.
Examples of International Freight Carriers: BAX Global and DHL/Danzas.
International Requirements:
eBay seller's policy for accepting International bids. Seller can cancel overseas
bids if their requirements are not met.
INIT: Acronym
for Initials.
ISP: Acronym forInternet
Service Provider.
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JPG:
Acronym for Joint Photographics Experts Group. File format for displaying
photos and pictures on eBay.
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KB:
Acronym for Kilobytes.
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Listing
Fee: Sellers pay eBay a fee to list each auction. Prices vary by additional
eBay services and/or tools used per listing.
LTD: Acronym
for Limited Edition.
Lots: Similar items sold
in quantities. Lots are usually sold at discount or wholesale prices.
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Market
Value: The highest price that an item will bring in a competitive and open
market under all conditions requisite to a fair sale.
MB:
Acronym for Megabytes.
MIB:
Acronym for Mint In Box. Item is in original OEM box.
MIJ:
Acronym for Made in Japan.
MIMB: Acronym for
Mint In Mint Box. Item and box are like new.
MIMP:
Acronym for Mint in Mint Package.
Minimum
Bid: The lowest amount of money at which the beginning bid is accepted.
MIP:
Acronym for Mint in Package.
MNB: Acronym for
Mint No Box.
MOC: Acronym for Mint On Card.
Used for diecast cars and action-figure collectibles that are packaged in an extruded
plastic card.
MOMC: Acronym for Mint On Mint Card.
MT:
Acronym for Mint. New, unused and without flaws.
MWBT:
Acronym for Mint with Both Tags.
MWMT: Acronym
for Mint with Mint Tags.
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NARU:
Acronym for Not A Registered User (or suspended user).
NBW:
Acronym for Never Been Worn.
NC: Acronym for
No Cover.
Non-Paying Bidder: Auction term used
to describe a winning bidder who does not pay. Non-paying bidders are usually
reported to eBay by the seller to recover all auction administration costs, including
eBay listing fees and final value fees. Seller has the ability to block all future
bids from that eBay member.
NPB: Acronym for Non-Paying
Bidder.
Non-Registered User: Former eBay user who
has been asked to cancel their membership or has been suspended from trading on
eBay.
No-Sale Fee: An administration charge paid by
the seller to eBay when the item does not sell. Also called a listing fee.
NR:
Acronym for No Reserve. No minimum bid price is required for the item to
sell on auction. Acronym is usually used in the auction title to save space.
NRFB:
Acronym for Never Removed from Box.
NM: Acronym
for Near Mint. Auction term that describes condition of item as used or
unused, but has a minor flaw.
NWT: Acronym for New
With Tags.
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OEM:
Acronym for Original Equipment Manufacturer.
Opening
Bid: The lowest acceptable amount at which the bidding must commence.
OOAK:
Acronym for One Of A Kind.
OOB: Acronym for Out
Of Box.
OOP: Acronym for Out Of Print.
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Parcels:
Items that can be shipped via standard carriers. Packages usually weigh under
150 lbs. Examples of parcel carriers: USPS,
UPS and FedEx.
PayPal: PayPal is
an online payment processing company that is owned by eBay, Inc. with over 40
million member accounts worldwide. You can send payments with your credit card
and/or your checking account through PayPal. And you can receive online payments...
without the extra hassle and expense of a setting up a Merchant account. We call
PayPal our online bank! Click on the PayPal logo below and sign up today! It's
FREE to join.
PayPal
Verified Buyer: A buyer that has confirmed his or her address and account
information though PayPal.
Phishing (also see Spoofs):
Deceptive email scam used to deceive online shoppers into disclosing their credit
card numbers, bank account information, Social Security numbers, passwords, and
other sensitive information. For more information on how to protect yourself from
Phishing, go to the FTC Consumer Alert
page.
PM: Acronym for Priority Mail.
Private
Auction: An auction in which neither the buyers nor the sellers identities
are disclosed.
Proxy Bidding: You enter the maximum
amount you're willing to spend on an item, and eBay will automatically continue
to bid--incrementally--for you until either you're the high bidder or your maximum
is reached.
PowerSeller: The PowerSeller
icon can only be used by members who meets eBay's requirements. A PowerSeller
is an experienced, eBay seller who must consistently sell a significant volume
of items each month, maintain a 98% positive feedback rating and provide a high
level of service to their buyers.
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QuickDeal4U:
Quick deals on computers, networking, test equipment, telecom and more... only
on eBay.
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RTFM:
Acronym for Read the Fine Manual.
Registered User:
You must register with eBay before you can bid or sell. eBay registration includes
valid contact information that will be confirmed prior to buying and selling on
eBay. How to register to buy
on eBay.
Relisting: Process of listing an item that
did not sell again on auction.
Reserve: The minimum
price that a seller is willing to accept for a property to be sold at auction.
Reserve
Auction: An auction in which the seller reserves a minimum acceptable price.
Sellers usually do not disclose the reserve price to prespective bidders.
Reserve
Price: The minimum price that a seller is willing to accept for a property
to be sold at auction.
Reserve Not Met: Auction terms
that means no bid is high enough to match the minimum price that the seller will
accept.
Reserve Icon: Icon that shows auction has a
minimum price that must be met before bids will be accepted.
Retaliatory
Feedback: Negative feedback, posted by an eBay member in response to another
eBay member's negative feedback.
RMA: Acronym for Return
Merchandise Authorization.
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Seller:
eBay member that has property listed for sale on auction.
Seller
Search: An eBay search function for all items an eBay seller has listed during
the last 30 days. All you need is the seller's User ID.
Shill
Bidding: The deliberate placing of bids to artificially drive up the price
of an item. This is also known as "bid padding" and is not allowed.
S&H:
Acronym for Shipping and Handling. Shipping costs, determined by seller,
for sending an auction item to the winning bidder.
Shipping
Confirmation: Seller may send a tracking number or shipping date an their
eBay customer and let them know when item was shipped.
Sniping:
Automatic computer generated bidding in the last few seconds of an auction. Auction
sniping is considered "legal" and allowed by eBay.
Sniping
Software: Sniping software enables you to place bids on items automatically
without having to watch or make additional bids on each item you want to win.
You must sign up with a sniping service, enter the highest amount you are willing
to pay and the computer will generate bids for you at the lowest increment needed
to win your item. Examples of sniping software: Auction Sniper and BidNapper.
Spam: E-mail
that is both unsolicited and is commercial in nature. eBay policy prohibits members
from sending spam.
Spoofs (also see Phishing): A spoofed
website is typically made to look like a well known, branded site (like ebay.com
or citibank.com) with a slightly different or confusing URL. A spoofed email looks
like it came from eBay, PayPal or your Bank, but the link leads you to the fake
website. It is used to deceive online shoppers into disclosing their credit card
numbers, bank account information, Social Security numbers, passwords, and other
sensitive information. Two NEW tools that can help you spot a spoofed website
are: eBay Toolbar and SpoofStick.
Star
Icons: eBay uses colored star icons to show how many comments the member has
received. For more information, go to eBay Stars and Feedback.
Store
Icon: Clickable icon
that takes you to an eBay member's online store.
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Trading
Assistant (TA): Experienced eBay sellers who meet eBay requirements and, for
a fee, can help you sell your items on eBay. To find an eBay Trading Assistant
in your area, go to the eBay Trading Assistant
Directory.
Terms and Conditions: Each eBay seller
defines the way they handle the auction fulfillment... and what terms they will
accept from potential bidders.
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Unregistered
User: Former eBay user who has been asked to cancel their membership or has
been suspended from buying or selling on eBay.
Unwelcome
Bid: A bid that does not meet the eBay seller's terms as stated in the auction.
Example: Seller states in auction that item is only shipped to US locations. Bidder
is International with ship-to location overseas. eBay seller can cancel bid.
UPS:
Acronym for United Parcels Service.
URL: Acronym
for Uniform Resource Locator - the address that identifies a Web site (such
as www.ebay.com).
USPS: Acronym for United States
Postal Service.
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Virus:
A program that damages or destroys computer software systems.
VHTF:
Acronym for Very Hard To Find.
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Western
Union Auction Payments: Do NOT use Western Union to make eBay auction payments.
Western Union should only be used to send money to people you know (i.e.: family
or friends only). Scammers ask you to pay with Western Union because it is like
sending cash through the mail. It's not traceable. Just don't do it!
Wildcard
or *.* : A character string that is used for online searches to help get a
better match. The asterisk (*) usually means find any character or set of characters.
Winning
Bidder Notification: Notification sent at close of auction to the winning
bidder. May be sent by eBay, PayPal, or seller.
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X, Y and Z
Sorry. No terms found for these letters!
If
you have any suggestions, just let us know.
Contact Information
Address:
Auction Mechanics, Inc.
eBay ID: QuickDeal4U
18700 FM 1431, Suite B
Jonestown,
TX 78645
USA
Hours:
Monday - Friday
9:00 a.m. -
1:00 p.m. (Central Standard Time)
Closed Saturday, Sunday and all US holidays.
Email: info (AT) quickdeal4u (DOT) com
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