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The Crowdfunded Auction Process:

PLEDGE: People interested in the campaign will pledge what amount they are comfortable spending, knowing that they may not ultimately be the winner of the auction. A reasonable pledge is the typical amount spent on a lunch or dinner.

PAY: Once the pledge goal is reached to cover the cost of the item, the pending transactions for every pledge will be charged. In exchange for each dollar pledged, the individual receives the same amount of bid tokens. Example: You pledged $25 so you will receive 25 bid tokens, and you will be told when the auction goes live.

BID:  The auction starts at $0.01. Bids purchased in the Bid Store increase the auction price by $0.01, whereas Bid Tokens do not increase the auction price. Each time a Bid (or Bid Token) is placed, the winning bidder is updated and the 20 second bid timer resets. This additional time is like a live auctioneer calling "Going once, twice any other bids?" 

WIN: The last user to bid once the bid timer strikes zero is deemed the winner.  The winner pays the final auction price. Example: You pledge $25 and end up placing the last bid and win. The final auction price might be $50, so your total investment is $75.

 
ToucanWin's unique approach empowers people to collectively fund and acquire real-world items that may have been otherwise unattainable.