An auction may be started in two steps -
State your cause and choose either a fixed duration or an open ended auction.
Make the invitation to your auction available to people for contributing promises or bidding.
In summary
Auction of Promises provides a complete, flexible and free service for starting and running a fundraising auction for any cause. Participants are able to contribute
promises to a specific auction, or bid online in their own time and
from any location. An auction lasts
as long as you choose, giving
bids plenty of time to escalate towards the target.
More detail
Promises are contributed to a specific auction.
Contributors state the location in which they are offering their promise - this
need not be the same location as the auctioneer (the person who starts the auction).
In an open ended auction the duration of bidding is set for each promise by the
promise contributor.
The auctioneer (person starting the auction) can choose for all bidding to end on
a set date. Promises may be contributed at any time until the auction is closed.
Once an auction has been set up, an invitation link is available which you can add
to your website or email to people in order to invite them to contribute a promise or to make
bid.
Potential bidders, contributors and the auctioneer (the person who starts the auction)
can communicate with each other over a simple, safe and secure platform.
A graphic portrayal of how close the total
bidding has reached to the final target
is provided by the fund totaliser.
There is no need to make any payments or give
bank details to Auction of Promises.
When a bid is made on a promise, an agreement is made
between the bidder and the promise contributor that the highest bidder will settle the
amount with the contributor
at the time the promise is fulfilled. The contributor agrees that funds collected are paid on
receipt to the auctioneer.
At the end of the auction
When bidding ends, bidders may contact the promise contributors to arrange
fulfillment of the promise.
The auctioneer has options to receive a list of the
promises, winning bids and the
final total.
Funds can be collected for promises using PayPal, Auction of Promises does not charge
any commision.
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