Auction Rules

Introduction

These Auction Rules outline the regulations governing auction transactions accessible through Mineral Kingdom services, the specific types of auctions available, and particular rules associated with them.

These Auction Rules are legally binding and form part of your agreement with Mineral Kingdom. By participating in an auction, you acknowledge that you have read, understood, and accepted these rules.

Bids

Bids placed in auctions on Mineral Kingdom are binding. Once a bid is placed through your account, it may not normally be withdrawn and may become legally binding if successful.

Due to potential internet connectivity issues, receipt of the bid by the Mineral Kingdom system constitutes the bid, not dispatch from the bidder's device.

Currency

The base currency for auctions is United States Dollars (USD), and amounts due are payable in that currency.

Types of Bids

Mineral Kingdom may support:

• standard auction bidding
• proxy bidding
• delayed bidding

Proxy bidding allows a member to enter a maximum bid and have Mineral Kingdom bid on their behalf as needed, subject to reserve and competing bids.

Bid Increments

Bids are placed in whole dollar increments. Increment levels vary by current auction bid level.

Auction Procedures

Auctions run until their specified close time and may enter an extended closing sequence if additional bids are received near the end. Reserve-price and timing rules apply according to the listing and platform rules.

If the reserve price is not met once the auction ends, the item may be relisted.

Reserve Price

Any item may be set with a hidden reserve price. If the reserve is not met, the item is not sold.

Buyer Emails

Mineral Kingdom may provide mandatory and optional auction-related emails, including bid acceptance, winning bid, outbid notifications, and auction clock reminders.

Auction Clock

Auctions start, continue, and finish according to the time controlled by the Mineral Kingdom system clock. Browser clocks may differ, and Mineral Kingdom is not responsible for device-side timing variance.

Bid Retraction

All bids must be considered carefully, as bids are generally binding and retractions are rarely allowed.

Exceptional circumstances may include typographical errors, significant listing changes, or illicit account use. Bids may not be retracted within the last hour of an auction.

Accountability

Mineral Kingdom may monitor bid retractions, and abuse may result in account suspension.

To request bid retraction, use the Contact Administrator form on the item auction page.