The Wanted Section:
Tazbar members can place a simple wanted advert for any item that they
require.The advert describes ( with optional photo ) the item wanted, along
with the destination and a guide price they are prepared to pay. The advert
runs for a period set by the buyer. This advert is shown in the wanted
section in the category selected by the buyer.
- The Wanted System From the Seller's Point of View:
It can be more beneficial to place a response to a wanted auction than
to simply list an item in the normal way as a traditional auction.
Firstly the seller is directing their item to a waiting customer.In
addition they are given a price guide that the waiting customer is
prepared to pay. This might be higher than the seller than the seller
expects to gain though a standard sale. In the event that the item
isn’t purchased by the member who placed the wanted auction, it is
moved over to a fixed price Buy Now type listing. It gives the seller
another opportunity to sell their item similar to placing an auction in
the first place.An additional feature that works alongside the Wanted
system is the "Sealed bids System". It is explained below.
- Placing an offer: Sellers having items matching a
wanted advert can place free offers against that wanted advert. Placing
offers on a wanted advert is a simple process that takes just a few
minutes.
- Exclusive Time limit on Wanted Offer: The seller can
set a time limit on their offer during which the offer remains exclusive
to the wanted advert placer. At the time of placing an offer the seller
has two choices regarding the end of the exclusive period if the Wanted
advert placer does not accept the offer:
- Let the offer roll over to become a Buy Now Listing for a period of
5 days.
- End the Offer.
- The Wanted Offer: The wanted offer is in the form of a
listing with a specified selling price.The difference between a standard
listing and a wanted offer is that the buyer who placed the wanted advert
has exclusive right to accept any or all of the offers that are received
from sellers. Other users can see the items offered for sale, but cannot,
at that point, buy them. They can however watch the offers in their
Control Panel.
- The Offer Price: The lower the seller's offer price
the higher the chances of the offer being accepted.However it is not
strictly necessary and if the buyer values the offer , they may be
inclined to pay more than the guide price. The seller can change the
offer price at any time if it has not yet been accepted by the seller.
The buyer can also increase of decrease the guide price.
- Fees: As the wanted offer is in the form of a listing
, the standard charges for content upgrades eg. extra photos, subtitle
apply. Promotional Upgrades, if purchased by the seller , are also
charged at standard rates and these charges will only apply if the offer
rolls over into standard 'Buy Now' listing.To vie the Tazbar fee
structure , please click
here. Standard Final Value Fees apply if the offer is accepted or
subsequently the item sells via a Sealed Bid or Buy Now Listing.
- Outcomes:
Placing an offer can result in four scenarios:
- The buyer accepts exclusive wanted offer: In this case both parties
must complete the transaction as it is now binding.
- The buyer does not accept the exclusive wanted offer and it times
out and rolls over into a standard Buy Now listing.
- The buyer does not accept the exclusive wanted offer and the wanted
advert ends or the exclusive period runs out and the offer
expires.
- The seller withdraws his offer before the buyer accepts it.
- Sealed Bids.
The Sealed Bid system is an original development by Tazbar. When you view a wanted advert you are able to see any offers that are currently placed. These offers are exclusive to the person that originally placed the wanted advert. However if the item is not purchased by the the original member it can become available to everyone. If you see an item that is offered and would like to be informed if it does become available to everyone you need to click the "Watch this item" button on the wanted offer.
At this point the Tazbar system will ask you if you wish to place a "Sealed Bid". This is a bid that is
totally secret. This bid must be the asking price or over.
The purpose of this bid is to express a genuine interest in the item if it becomes available.
When a wanted offer expires and is not purchased by the original wanted advertiser it can roll over to become a normal "Buy Now" 5 day auction. However if a Sealed Bid has been placed this will take priority at the time of the roll over. When an offer rolls over to become an auction the Tazbar system checks for any Sealed Bids that have been placed. If there are sealed Bids present. The item sells intsantly to the highest one. This prevents the item rolling over to become an auction.
Let us put this into a scenario to help you understand it easier.
You are interested in Antique Plates and buy and sell these regularly. You look at the Tazbar wanted adverts in case anyone is looking for a plate that you might have for sale. During this process you notice another member has placed a wanted advert for a 1969 Wedgewood Christmas plate in mint condition. You also notice that this member has been offered one these plates. You would like this plate also to complete your collection of Christmas plates but the offer is exclusive to the person who place the wanted advert. At this point you have 2 choices you can place your own wanted advert for one of these plates or hope that the person who placed the wanted advert doesn't take the offer and purchase the plate. It is free to place a Sealed Bid on Tazbar so you decide to do this. This means that if the plate does become available and turns into an auction, your sealed bid will step in at the time of the offer rolling over and provided you have placed the highest Sealed Bid you will win the item.
You follow the offer in your "Item's I'm Watching" page and keep a close eye on it over the next couple of days. You then notice that the original wanted advert has attracted another offer. The person that placed the original wanted advert then purchases the other offer. This is good news for you as they will now probably not buy the plate you have placed the Sealed Bid on. The offer time expires, the offer has not been purchased by the original wanted advertiser, so it rolls over to become an auction. At this point the Tazbar system notices your Sealed bid and takes this as a genuine intent to purchase. because of this the plate sells instantly to you.
- Revising a Sealed Bid: A sealed bid can be revised
before the end of the exclusive period of the Wanted Offer.