How it works

1. Two Ways to Buy and Sell: Auction vs. Fixed Price When listing an item on Bidbyte, sellers choose between two formats: • Auction (Bidding): Items run for a set duration with a live countdown timer. Sellers choose from standard duration options (1, 3, 7, 14, or 30 days, subject to the platform administrator's maximum limit, which defaults to 14 days). Registered buyers place bids competitively. When the countdown reaches zero, the highest bidder wins the lot. • Fixed Price (Direct Sale): The seller sets a single asking price without bidding or a countdown clock. Interested buyers can directly start an internal chat with the seller to agree on payment and collection or shipping. 2. Starting Price & Minimum Bid Increment • Starting Price: Every auction begins at the base price set by the seller. • Minimum Increment: Bids cannot increase by arbitrary amounts. Bidbyte uses a platform-wide minimum increment configured in platform settings (standard €5). • Next Minimum Bid Calculation: • First Bid: A manual opening bid requires the starting price plus the minimum increment (e.g., €50 start + €5 increment = €55 minimum manual first bid), while the Bid Bot can enter at the base starting price. • Subsequent Bids: Every subsequent bid must be at least: Current Highest Bid+Minimum IncrementCurrent Highest Bid+Minimum Increment • Fair Bidding Rules: • No self-bidding: Sellers cannot bid on their own listings. • Leading bidder notice: If a user is already the highest bidder and attempts to submit another manual bid, the system displays a confirmation warning informing them that they currently hold the lead and recommending the Bid Bot to adjust their ceiling, while still allowing them to consciously raise their lead bid if desired. 3. Highest Bidder & Live Tracking • Every bid placed is recorded with an exact timestamp and immediately updates the current price across the platform. • The bidder with the highest valid offer holds the Leading Bidder position. • In their dashboard ("My Bids" / "Mijn biedingen"), buyers can track in real time whether they are currently leading or have been outbid ("Overboden"). 4. The Bid Bot (Automatic / Proxy Bidding) The Bid Bot allows buyers to set their maximum budget without having to manually monitor the auction countdown. • How to set it: The buyer enters the absolute maximum amount they are willing to pay for an item. • Automated Increments: The system immediately places a bid at the lowest necessary amount to take the lead (either the starting price if no bids exist, or the current highest bid plus one increment). • Automatic Defense: Whenever another user places a bid, the Bid Bot automatically responds by bidding one increment higher, up to the buyer’s maximum ceiling. • Bot vs. Bot Resolution: If two buyers set a Bid Bot on the same item: • The system calculates the bids until the lower bot reaches its ceiling. • The higher bot takes the lead at one increment above the second bot’s ceiling. • If both buyers enter the exact same maximum ceiling, the bot submitted first takes priority. • Ceiling Updates: Bidders can adjust or raise their maximum ceiling at any time before the auction closes. 5. Auction Outcome: Matched vs. Unmatched Once an auction timer expires, or when a fixed-price deal is concluded, the listing receives an official outcome badge: • Matched ("Match" / Green Badge): • Auctions: If at least one valid bid was placed before the countdown expired, the auction concludes as Matched. The highest bidder wins the lot, the final price is locked, and the transaction proceeds between buyer and seller. • Fixed Price: The seller marks the item as Matched once an agreement is reached with a prospective buyer, closing the listing to other users. • User Ratings: Both parties in a Matched transaction can leave mutual reputation ratings and feedback. • Unmatched ("Geen match" / Red Badge): • If an auction timer runs out with zero bids placed, the listing concludes as Unmatched. No transaction takes place, and the seller can choose to relist the item. 6. Communication & Finalizing the Deal • Built-in Secure Chat: Buyers and sellers communicate via an internal messaging thread tied directly to the auction lot. Personal email addresses remain private, and users are identified by their profile display names or aliases. • Delivery & Collection: Listings specify standard fulfillment as pickup or shipping, allowing buyer and seller to coordinate convenient handover details directly in the chat.