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Webmasterbids is a venue for webmasters to buy and sell advertising. Owners of websites can place their advertising space for sale in an auction style format. The owner can choose which category and subcategory his web site belongs in. Then a buyer can browse through our categories or search for a keyword to find the web sites in the industry that they would like to target their advertising.

The seller places their advertising space for sale by setting the minimum bid and increments of bids. They can also set a "Buy it Now" which will give the buyer the opportunity to bid that exact price, which will close the auction and that bidder will be the winner. The seller can also set a reserve, which allows the auction the run normally but if the closing price does not meet the reserve price then the seller is not obliged to sell his advertising space.

The buyer can browse through the categories and subcategories for advertising. The can also do a search for keywords that associate with their industry. They can select auctions to view the details. If they decide to bid they can bid the maximum amount they wish to pay for that advertising space and that amount will be stored in the database. The bid will increase by the increment set by the seller. For example, if bidderA bids $5.00 and the minimum bid is $2.00 then the current bid would be $2.00, if the auction was to close at that point then the space would be sold for $2.00 even though bidderA bid $5.00. If the auction was not closed and if bidderB bids $3.00 then the current bid is then set at $3.00. However, bidderA's maximum bid would then come into affect and outbids bidderB with $4.00. If bidderC then bids $5.00 then bidderA's maximum would still come into affect and outbid bidderC because a previous bid of the same amount takes precedence. Then if bidderB was to return and bid $7.00, his bet would outbid bidderA's maximum and the new current highest bid would be $6.00 (highest previous bid of $5.00 + $1.00 increment)

bidderA bids $5.00
    bidderA's bid is accepted at the minimum current bid of $2.00
bidderB bids $3.00
    bidderB's bid is accepted at $3.00
    bidderA's maximum comes into affect and outbids bidderB
    bidderA is the current highest bidder with $4.00 ($3.00 + $1.00 increment)
bidderC bids $5.00
    bidderC's bid is accepted
    bidderA's maximum bid comes into affect and outbids bidderC (previous bid     of the same amount takes precedence)
bidderB bids $7.00
    bidderB's bid is accepted for $6.00 (highest previous bid of $5.00 + $1.00     increment)
    bidderA's maximum has been exceeded


Once an auction has closed both the buyer and the seller will receive and email outlining the auction details and the email addresses of both the buyer and seller. It is then up to the buyer and seller to exchange advertising and money, webmasterbids does not get involved in the exchange of advertising media or money. Feedback can be given to the buyer from the seller and vise-versa.

The seller only pays a fee when the auction closes with a bid. There are no insertion fees. If the buyer does not pay for an auction then the seller can request a credit for that auction. If the buyer does not respond within 7 days then a credit is issued to the seller.  

 

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