Bidz.com is the largest business to consumer auction website specializing in jewelry, watches, and other brand name items. The company was founded in 1998 by David Zinberg and offers a large assortment of diamond, gemstone and branded jewelry, branded watches and designer accessories. Bidz.com sells closeout merchandise, allowing many of the auctions to start as low as $1.
Bidding on Bidz.com is free and offers its users a live auction experience. Buyers have to register in order to place their bids. The bidding amount must exceed the current highest bid by at least one set bid increment. If a bid is placed during the last 15 seconds of an auction, the auction is automatically extended for an additional 15 seconds from the time of the latest bid. The auction closes once all bidding activity has stopped for a period of 15 seconds.
Users can use the auto-bid feature, which bids automatically without going over the maximum set by the user. Buyers can purchase some items without bidding. They can buy item at the fixed price by choosing ‘buy now’ option or offer their own price by clicking ‘make an offer’ button. If the price offered by the customer is acceptable for the auction, the item will be added to customers shopping cart for check out.
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