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How do you play? |
| The idea of a reverse auction is that a player aims to be the lowest bidder on an item, and the bid in pence has to be one which no other player has made i.e. the lowest unique bid. |
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How much are credits? |
| Credits are sold in various bundles, starting with 5 credits, the more credits you buy, the more you get free. You can pay by logging into your MrsPenny account, adding to cart, and paying via the PayPal secure payment gateway. |
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What happens if the reserve price is not met? |
| If the reserve price is not met the auction will be closed and all bidders will receive a refund of their credits to use on other auctions. A Reserve Price is set per item, and the item must reach this number of bids in order for someone to win the product. This Reserve is to cover some of the cost of MrsPenny purchasing the product. For example, an item that has a 'reserve' of £100, must accumulate at least 100 bids on that item before someone can win; if only 90 bids are placed on the product, then all players will receive a refund of their bids into their accounts to bid on other auctions. |
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