 | What exactly is Signs 2000's Reverse Auction Process and how is it different than an auction on EBAY? |
 | Ebay is a service where many people are competing for one item, and the
selling price goes up as more and more people bid on the item. In Signs
2000's Reverse Auction, many people have the opportunity to buy the same
item, but the price falls as more and more people participate.
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| What happens in a reverse auction? |
| We put a item up for auction at an initial price of what it would cost us to make one and sell one of that particular item. However, what if we sold that same item to a 1000 people? Then the cost, both to the buyer and to us, would be lower. That is what Auction Central is about. This is a place where people can sign up to buy a particular item and based on the actual participants who sign up for that item, the price will continually go down as Signs 2000 passes the savings back to you. Quick example:
We put a banner up for auction that has an initial price of $200 with auction break points of 10 or more- $150, 50 or more- $100, and 100 or more $50. That means if 10 or more people sign-up for this banner the price drops to $150 (from $200), if 50 or more people sign-up the price drops to $100, if 100 or people the price drops to $50. So if 100 or more people signed-up for this auction, a $200 banner would have a final cost of $50 to each person that signed-up for this auction.
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| Am I guaranteed the lowest price no matter what? |
| Yes. When you sign up for an auction at whatever the price is at that particular time, you are guaranteed the lowest price when the auction closes. For example, you sign up for the banner example above when the price is $150 and then the price drops to $50 dollars based on the quantity ordered and the overall participation in that auction. Therefore, when the auction closes you will automatically get that banner for $50 even though you ordered it when it was $150.
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| After I sign up for an auction, can I cancel it at any time? |
| Yes. You can cancel your bid at anytime before the auction ends if you decide not to participate in that auction.
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| How will I know if a price in an auction is changing or when it's ending? |
| You will be notified by email on any and all changes that are incurring in an auction when it is opened. This includes any price changes and notification of the auction closing date and time.
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| How do I pay for my auction item? |
| If we have your credit card on file, we will charge it to that. However if you prefer not to pay for it that way, let us now and we will put it on account.
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| How can I let others know about this so I can get them to particpate and lower an item's price? |
| Use the phone, email, or forward them the website link to let people know about a particular auction item if they don't know already. The more fellow restaurant owners and operators know and participate in the auction, the lower the price becomes for everyone.
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| Can the price actually go back up? |
| Only in the rare case where a number of people sign-up for an auction and then a few people drop out, then the price could possibly go back up.
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| What if I still have questions about this? |
| You can email us at:support@mpromo.com or call us at 1-800-969-6100.
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