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PennyMachines AUCTION Frequently Asked Questions

Who determines the Starting Price?

The seller (the person who posted the item) decides what he or she wants the bidding to begin at. This should be just below the lowest price acceptable for the item. If you bid, the system will ask you to bid the starting price plus the bid increment.  Sellers are encouraged to start items at a reasonable amount and not absurdly high. Buyers enjoy the auction process but may ignore your item if they think you're being greedy.

What is the bid increment?

The bid increment is the minimum amount a new bidder must place to beat an old bid. It is indicated on the bidding form as the minimum bid required. It is raised in steps as the top bid increases, and helps to prevent someone from being outbid by a tiny amount like 0.01. It also assures the seller of getting a decent return if the item is hotly contested.

What is Proxy Bidding?

When you have entered the amount you are willing to pay for an item into Your maximum bid box, the PennyMachines Robot will act as your Proxy. He stays and watches the auction 24 hours a day while you're doing more interesting things. He will bid only enough to make you the high bidder. If someone then tops that bid, the Robot places another bid for you and so on up to the maximum amount you've specified. Under no circumstances will the Robot bid more than you entered. He will email you if you are outbid, inviting you to enter a higher bid if you wish.

What does using this auction cost and how do I qualify?

This auction requires that all sellers and buyers be registered. This costs nothing, but enables us to keep track of items for sale and who bids on what. It protects both ourselves as the auction providers and you as buyer and/or seller. Registration is simple and painless. Click on Register here or near the top of any auction page. Bidding is free. Selling fees lists charges for posting an item in the auction.

How do I bid?

Click on the name or picture of any item you'd like more information about. If you wish to place a bid, enter your bid in the box below the item, then just click on the place bid button nearby. Should someone outbid you, the system sends you an email notification with a link back to the item. Click on the link in your email message and you will be returned directly to the item. You can then decide whether you want to raise your bid. Click here for a more detailed explanation.

What are Reserve Prices?

Sometimes a seller enters a Reserve Price. For example, the item usually sells for 100. The seller decides to place a Starting Price of 1 on the item but they want to get at least 80 for it. So a Reserve Price of 80 is entered into the system. In such a case - even if you are the high bidder at, say, 60 - you will not win the item unless you go over 80. Because the reserve is hidden it can deter bidders. They may assume that it is a waste of time to bid, even though the reserve is almost met. A better strategy may be to enter the item at the lowest Starting Price you will accept, with no reserve.

How do I Post an item for sale?

Posting your items for sale in the PennyMachines AUCTION is easy. Simply register if you have not already done so (by clicking Register here or at the top of any auction page). Your password will be emailed to you, usually within a few seconds (no need to disconnect while you wait). Once you have the password, you might want to copy it from your email and go to Change your Password to replace our rather obtuse collection of letters and numbers with something you might more easily remember.

Posting items for sale is accomplished by clicking on Sell here or at the top of any auction screen. The posting process is fairly self-explanitory. You may post an image of your item and select a category for it. Fill in the form with a short descriptive title and a fuller description, mentioning any special arrangements regarding payment and delivery of the item etc. Click here for a more detailed explanation.

How do I find out more about a posted item?

If you have any questions about an item, by all means contact the seller and ask him or her (not us!). Click on the Questions & answers link found on the item page by the seller's name. You can ask about the condition of the item, payment and shipment terms, or anything else not already spelled out in the item's description.

How do I know I'm getting a good deal?

When buying something from someone - whether on the internet, in any kind of auction, or anywhere else - your best protection is to be an informed buyer. Make use of this site to learn more about vintage coin-operated machines. Although we monitor the content of the Auction, we can give no assurances about the quality or authenticity of items that members have placed in it.

How do I know I won?

The PennyMachines Robot emails the buyer (highest bidder) and seller of the item when the auction ends. The buyer and seller are then responsible for making their own arrangements to conclude the deal by payment and shipment. This auction merely offers a venue for buying and selling. We will not, nor cannot, be held responsible in any way for any lack of performance by any and all parties. We simply provide a place that allows people to buy and sell. However, please let us know if you have any problems. We can and will banish anyone who abuses our auction.

For any other questions you have, please email the Auction.

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