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Getting Started

Why does an auction participant have to create an account in order to bid?

A participant who is placing a pledge on an auction campaign item is entering into a legal obligation to complete the transaction once a pledge goal is reached. Otherwise, it would be a great disservice to all other bidders if the pledgers are not seriously committed or not liable for their pledge. In order to facilitate communication between the auctionpreneur and the bidders, both must have accounts with in order to participate just like all other online auction sites.

Why do I need an account to bid?

It is required that you have an account to bid in order to be held responsible for your winning bid.  A participant who is placing a bid on an auction item is entering into a legal obligation to complete the transaction if you are the winning bidder. Your account profile includes your credit card info and will only be used as back up:  You will receive an invoice for your winning bid and you can pay it with a check, money order, or wired banking payment. If you fail to claim or fail to pay for your winning auction you take the chance of it being taken away from you. 

I’m interested in bidding, what do I need to do?

1. Register for a free account and find the auction campaign item you’d like to pledge on.  You can search the auction by name of the campaign, zip code, auction ID, etc. 

2. Familiarize yourself with the item and the terms and conditions prior to placing your pledge. When you’re sure this is the auction for you, place your pledge amount according to the system prompts.

3. If at the end of the Pledge Period the Pledge Goal is met, your credit card will be charged for the amount you agreed to pledge. 

4. The platform will send to your account the number of Bid Tokens based on the Pledge you made and alert you to the starting time of the auction.

5. When the auction begins you can begin placing your Bid Tokens into the auctions.

6. If you run out of Bid Tokens and still want to remain in the auction you may purchase additional bids.

7. If you are the winning bidder you will be notified to claim and pay for your auction item within a specified time frame. If you were not the successful bidder there is nothing else for you to do.

8. Confirm your shipment:  It’s very important that you notify the Auctionpreneur right away when you receive your item. Without your confirmation, the auction's fund cannot be released to the Auctionpreneur.

How does ToucanWin’s crowdfunded auctions work?

How do Crowdfunded Auctions work on

Crowdfunded auctions on are an innovative fusion of crowdfunding and online Pay-Per-Bid auctions, offering a unique platform where individuals can collectively fund unique items or experiences and then bid for a chance to win them. The process unfolds in two distinct phases: the Pledge Period and the Auction Phase.

Pledge Period:

In the Pledge Period, items or experiences (we call these 'campaigns') are posted on our platform with a designated crowdfunding goal known as the Pledge Goal. Users, known as 'bidders', then make monetary pledges towards these campaigns. For each dollar pledged, the bidder receives a 'Bid Token' if the crowdfunding pledge goal is met by the end of the Pledge Period.

Let's illustrate this with an example. Suppose there's a campaign for a luxury vacation package with a crowdfunding goal of $10,000. You decide to pledge $100. If the total pledges from all users reach or exceed the $10,000 goal, you will receive 100 Bid Tokens at the end of the Pledge Period when your credit card is charged.

Auction Phase:

Once the Pledge Period ends successfully, the Auction Phase begins. In this phase, bidders use their earned Bid Tokens and/or purchased Bids to compete in the auction. When a Bid Token is placed in the auction, the bidder takes the top spot to win, but doesn't affect the auction price. However, if a purchased Bid is placed, it increases the auction price by one penny and also secures the bidder the top spot.

Let's continue with the previous example. In the Auction Phase for the luxury vacation package, you decide to use your 100 Bid Tokens. You place one Bid Token into the auction and now you're in position to win. However, if another bidder places a Bid Token or a purchased Bid, they take the top spot, and you'll need to bid again to regain your position. Remember, a purchased Bid increases the auction price by one penny.

A countdown timer keeps the process dynamic and fair. Whenever a new bid is placed, the timer resets to 20 seconds. If no new bids are placed before the timer runs out, the bidder in the top spot wins the auction at the current auction price.

Through this method, crowdfunded auctions on democratize the auction process, enabling more users to have a chance to win extraordinary items or experiences at a fraction of their actual value. Remember, each auction is a strategy game, and the winning bidder is often the one who knows when and how to place their bids.

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