How to participate in Shop Auction

Shop Auction (Long-Form Auction) is a specialized auction format on Palmstreet Marketplace designed for premium and high-value items. Unlike fast-paced LIVE auctions, Shop Auctions can run for up to 7 days, giving you more time to discover unique items, consider your options, and bid with confidence.

Shop Auction now supports Max Bid and Buy It Now:

• Max Bid lets you set the maximum amount you are willing to pay, and Palmstreet can automatically bid for you when needed. Learn how to use Max Bid below.

• Buy It Now lets you purchase an auction item immediately at a set price when the option is available. Learn how to use Buy it Now below.

These options help you stay competitive, avoid missing an item you want, and choose the buying path that works best for you.

Why Use Long-Form Auction?

• Bid with Confidence: Take more time to review product details and decide how much an item is worth before bidding.

• Discover Special Finds: Explore unique, rare, and collectible items that may not appear in regular listings.

• Find Great Deals: Get a chance to win valuable items at attractive prices, especially when competition is limited.

• Stay Competitive with Max Bid: Set the most you're willing to pay and let Palmstreet automatically bid for you when needed.

• Buy Immediately with Buy It Now: If Buy It Now is available, purchase the item right away instead of waiting for the auction to end.

• Track Auctions Easily: Get bid notifications and status updates, and manage multiple auctions from one place.

How to Participate in Long-Form Auction

1

Find Long-Form Auctions

• Navigate to the Marketplace (Shop tab) to browse all available Long-Form Auctions.

• Visit seller profiles to see if they have active Long-Form Auctions.

Finding Long-Form Auctions

2

Explore Long-Form Auctions

On the Auctions page, browse listings and track personal bidding activity:

• Use tabs like Popular, Highest bids, Ending soon, or Recently added to filter auctions of interest.

• Visit the My bids section to easily track all auctions already joined.

Exploring Long-Form Auctions

3

Place a Bid

• Open any auction listing to view product information, shipping & policies, and current bids.

• Complete a quick verification if bidding for the first time.

• Confirm payment method and shipping address before placing a bid.

Note:

• Each new bid must meet the required minimum bid increment.

• The auction countdown does not reset when new bids are placed.

• Max Bid is optional: Turn it on to set the highest amount you're willing to pay and let Palmstreet automatically bid for you when needed

Placing a Bid

Use Max Bid

With Max Bid, you set the highest amount you're willing to pay, and Palmstreet automatically bids for you when needed, helping you stay competitive without continuously monitoring the auction.

Keep in mind:

• Palmstreet only increases your bid when needed to keep you competitive.

• Your bid will never exceed the Max Bid you set.

• If another buyer's bid exceeds your Max Bid, you'll be outbid and can choose to increase your Max Bid.

• You can increase your Max Bid after submitting it, but you cannot lower or turn off an active Max Bid.

• If you're immediately outbid, another buyer may already have a higher Max Bid. You can place a higher bid or increase your own Max Bid to continue competing.

Your Max Bid is not necessarily what you'll pay. If you win, you pay the final winning auction price, plus applicable shipping, taxes, and fees.

If an auction has a Reserve Price:

• If your Max Bid is below the Reserve Price, Palmstreet will bid up to your Max Bid, but the item cannot sell until the Reserve Price is met.

• If your Max Bid is equal to or above the Reserve Price, Palmstreet will bid at the Reserve Price first. Any remaining Max Bid amount will only be used as needed to compete with other bids.

Example: If the Reserve Price is $100, a Max Bid of $80 places an $80 bid, but the reserve is not met. A Max Bid of $200 places a $100 bid first, meeting the reserve.

Use Buy It Now

Some Shop Auctions may also offer Buy It Now.

If Buy It Now is available, you may see both Place bid and Buy It Now on the auction detail page. Use Buy It Now if you want to purchase the item immediately at the listed Buy It Now price instead of waiting for the auction to end.

When you use Buy It Now:

• Once the purchase succeeds, the auction ends immediately.

• The item is marked sold.

• Other bidders receive an auction-ended notification.

How Reserve Price affects Buy It Now:

• For auctions without a Reserve Price, Buy It Now becomes unavailable after the first bid is placed.

• For auctions with a Reserve Price, Buy It Now remains available until the Reserve Price is met.

After the Auction Ends

If you win, you'll receive a notification and proceed to payment and delivery.

If you used Max Bid, you pay the final winning auction price, not automatically your full Max Bid.

You can share your auction result through social media or messages to celebrate the win.

After the Auction Ends