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How it works


How 1cent.ca works

 

1cent.ca is a real fun and exciting way to buy top brands for a fraction of their real price.

 

To get started, you need to register, buy bids, play and win!

 

Registration

New registration gives 5 free bids

 

Bids:

Bids cost are between 1$ and as low as $0.70 (Tax included) each and are sold in BidPacks of 20, 50, 100, 250, 500, 750 or 1500. Bidders have the choice of placing single bids, or, using an electronic bid assistant called the "AutoBid" (see below).

 

Play:

The starting price for every product is always $0.00 (CND). Bids are raised by 1 cent at a time ($0.01), which keeps the final – winning - price low. You bid against the clock and others on the site. If no one raises the bid before the clock has reached countdown, you win, paying the final price - which is usually at a great discount of the manufacturer’s retail price.

Next to each product you’ll see a clock, which shows how much time remains until the end of the auction. An auction closes when no one has raised your bid within the given time. If another user bids against you, the clock will start again.

 

Win:

The right to buy the product goes to the last bidder and by paying the closing price of the auctioned item, the product is sold to the user.

And remember...the countdown is on...

 

Take note than 1cent.ca limits 5 wins per week(last 7 days) per person

 

 

What is AutoBid?

 

The AutoBid at 1cent.ca is a tool that you can use to place bids on a particular auction while you are away from your computer.  This will keep you from sacrificing your freedom while enabling you to still pursue all the items in which you are interested. Only registered users can use the AutoBid tool.

In order to place an AutoBid, you will first need to be viewing the actual auction screen for the item in which you are interested. Once there, locate the AutoBid box on the right side of the page. You will need to decide two things before placing your AutoBid.

 

 

First,

You will need to settle on a price range in which your AutoBids will take place. Determining what range to use is completely up to you. If you think there will be a lot of interest in the item, you should probably put the range higher. If you think that there may not be too many people bidding against you, you might set the range lower. Again, determining that range is completely your choice. This is, however, where watching auctions and using an appropriate strategy may be to your advantage.

 

Second

You will need to decide is how many bids you want to use. Again, you will need to strategize to determine the amount you think will win the item. Note that when you book your AutoBid, of course, you can only book as many AutoBids as you have bids in your account, so make sure your account contains what you think you will need to win.

 

Once you have booked your AutoBid, you...wait. Once the timer counts down just seconds remaining in the auction, and the price of the item is within the range you specified, your first AutoBid will be placed. If the timer then counts down to zero, you win. If someone else bids against you, another of your AutoBids will be placed, so long as the current price of the item is still within your specified range. This process will repeat until the item is either out of your specified price range, all of your AutoBids are exhausted or, hopefully, the auction ends with you as the winner.

 

To remove AutoBidder simply click on “Stop AutoBid” button.

 

 

Type of auction available at 1cent.ca:

 

Some interesting options are available at 1cent.ca. Here are the auctions types

 

1) No Autobid :

 

No Autobid available for the item. People need to bid manually… so be ready to hit the bid button

 

2) Free Bid :

 

 

On this case, the Winner of the auction get  all bid placed during the auction refunded. That mean, if you win then you pay only the auction price and you receive back the bids placed during the auction….

 

3) Looser get credit of bid placed.

 

 

On this case the winner get the item and do not get back any of the the bid placed. But all other bidders on this item get a complete refund of the bid placed.... So you can bid without loosing any bids

 Buy It Now option:

 

For a specific auction:

1)      The winner will be able to use the BIN option but will not get any rebate per bids placed on the auction since he/she was the winner.

2)      The second last bidder will get  $0.70 rebate per bids placed on the auction for the BIN option

3)      The third last bidder will get $0.60 rebate per bids placed on the auction for the BIN option

4)    Finally all other users will be able to BIN the item and will get $0.45 per bids placed on the auction for the BIN option.

 

 

 

 

Here is an example:

On this test auction, the user:

A)      ’’ D_Test’’ was the winner and will not receive any rebate on the BIN option

B)      ‘’ C_Test’’ was the second last bidder and will receive $0.70 rebate per bids placed on this auction for the BIN option

C)      ‘’Test111’’ was the third last bidder and will receive $0.60 rebate per bids placed on this auction for the BIN option

D)     ‘’ Test222’’ and all other bidder on this auction will receive $0.45 rebate per bids placed on this auction for the BIN option

So work on you strategy and good luck!