5new.org Auctions’ Guidelines: What is “an auction” on 5new.org webpage?

How to bid?

In short – it is a model where many users are suggesting a price for an item. The users are placing a bid and are overplaying each other by overbiding. Bear in mind that each bid, especially the ones closer to the end of the game might be the winning one. So be careful and play hard only when you can afford it. The rule says that the winning bid means that the user needs to pay for the item (through credit card, bank account or cash on delivery). Find more about our Terms and Conditions and our Delivery system.
In our case you will notice few common characteristics, such as:

1. Every auction is with an increasing model of bidding with a set up by us “step” (typically a percentage of the price) 
2. For every auction the starting price is at least half of the regular price of the item. The lowest price that an item can have is 1 lv. (0.50 euro)
3. You can see the other bidders’ activity in the auction history. 
4. Some auctions might have option for proxy* (fixed) bidding, or might be listed as “secret”** auctions and this will be shown and said in the auction.
5. Some auctions have reserved price*** which is not visible. 
6. Every auction has a starting and ending time (shown by a timer).
7. An auction can end in two situations – 1. The time is up with a winning bid; 2. Somebody bought the item on its “Buy Now”**** price (when there is such a possibility) and the payment was made in a slot of 48 hours after this action. 
8. Some auctions can be relisted – to start over, or even fail. This is totally normal and  reasons for that might differ but the important thing is that you will always know what is happening and why, through our email notification system. And yet, if you still feel a little bit lost in the game, please do not hesitate to message us directly.  
9. Yes, you will receive a bunch of emails as a notification to every important action that is happening during your play. But don’t worry. You will not receive any spam or inappropriate emails once the auction is finished.

Auctions are fun and at the same time they are a serious game for grown up people. Unfortunately you can’t bid if you are not over 16 y.a. More details about this you can see on our FAQ section. This is not a simulation but a real “winning – paying” game. 

You prove that you agree with our rules when you register and by confirming your email. (more on this topic you can find here). Once you are in, you can start bidding and actually win! Want to know how to do so? Just continue reading on.

The great thing about auctions is that You place the price and You say what is the value of the item according to your standards and beliefs. This creates a real competition between the artworks in real time that can also show you which ones are the favorites, what is the average price according to people’s opinion and how good is actually your investment. “Buy Now” button, the estimated price feature and the reserved price feature are all there to show you that this artwork has already received market recognition. In the value we had to take into account all the historical and cultural aspects of the artwork and it’s author. 
The auctions without these features are more attractive from the perspective that you might buy with very low bid something of high value. This will be a treasure hunt through carefully selected artworks.

Here are the steps to bid:

• Create an account
• Confirm your account and set up your account. Your User Name is visible for other bidders and visitors of the website and if you don’t add a username then your email will be displayed instead. So, spend a few minutes to set up your settings. That will help you to have a better experience.  
• Go to the auction page
• Have a look at our artworks and art objects. You can make a watch list and follow our action activities without even bidding.
• Once you choose an art piece that you want to be yours, click on the + sign and then click the yellow button next to it. Now you’ve made a BID. Congratulations, you are part of this  game. 
• You will get notification every time you make a bid or every time someone overbids you. 
• If your offer is the highest at the end of the auction, you WIN and it is time to get serious. 
• Please, proceed to payment as you will have a slot for your payment (up to 3 business days).
• Your payment will be “on hold” until you confirm that your new art object arrived safely at your place of delivery. So, don’t be worried if the art piece is not in your hands by the estimated hour. More about what is happening in those extreme cases you can read here.

So in conclusion, when you collect an art piece in any of our auctions you win in any case!

Notes:

* Proxy auction feature

Proxy (fix) bidding allows you to place a fixed amount of bidding value and the computer / system is bidding instead of you UP to this amount. The system is smart and will never place all your fixed bidding values at once. It will bid carefully and only when it is necessary. This gives you a freedom to be away from the web site and at the same time eventually  to win your desired item for the money that you want. Auctions with proxy are announced as such. 

** Secret auction feature

Secret auction is released as one where there is no visible bidding and yet it is happening. All the users are placing a bidding value at one and the same time and after that the winner is determined by who placed the highest number. If there are two equal proposals for bid value then the winner is the one who placed the bid first (according to the computer / server timing on the back end of the site).

*** Reserved price feature 

If the auction is with a reserved price, you will be notified that you didn’t reach the specified value. That means your bid is not active until you reach the reserved price. 

**** Buy now feature before the auction

With Buy now feature you can collect the item before the auction starts on a pre-fixed price. Once the auction starts, this option will vanish. Keep in mind that you can use the button only if you are sure you want to have this item, as you will be redirect to the cashier and from that moment you will have a limited time of 48 hours to make it really yours. If this is not a fact after 48 hours you might be restricted from the site and the item will be relisted in the auction.