To ensure we deliver the highest quality of data we meticulously developed a program called "Auction Cleanser".
Our Auction Cleanser goes through each auction individually and makes sure the statistics provided are for the product only. We disqualify all auctions that are identified as lots, include bonus items, include damaged or defective products and are for parts only.
We also look at questionable auctions with high shipping rates that offset the buy it now price or the winning bid. In addition we have built intelligence into our Auction Cleanser to disqualify auctions that set unreasonable buy it now prices just to draw attention to a listing. When questionable listings are identified our team of experts is provided with a report and supporting data to evaluate each result individually to either disqualify or permit the result.
To further ensure the quality of our data we utilize a sophisticated data mining reporting system to identify anomalies.
A Bid Auction is where a seller sets an opening price for a product and potential buyers opt to win the product by offering a higher price (bid). This bidding process moves the price up and at the conclusion, the highest bidder wins the item.
A BIN auction is where a seller sets a fixed price for the product and a buyer can choose to pay this price and immediately win the item.
In some instances the buyer can make an offer below the fixed price giving the seller the option to accept and close the sale.