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The monthly magazine for all home business needs
The Article Bank
The extensive collection of all matters relating to Online Auctions
Ebay Auction Glossary
One of the problems that new comers to eBay, QXL and CQout online auctions experience is to understand the meaning of the jargon and abbreviations that they will come across while browsing these online auctions. Below is a selection of the more common phrases and abbreviations that you may encounter while bidding on eBay, QXL, CQout and many of the other online auctions.:
First of all terms relating to the condition of an item.
As is
This is an item that is offered as seen with no guarantee. This means that the buyer will no accept the return of the item or give a refund. Very much a case of buyer be aware
Certificate of Authenticity(COA)
A paper certifying either the item is genuine. Particularly important with limited edition items.
Certificate of Provenance(COP)
A paper giving the history of an item. Applies mainly to antiques.
HTF Hard to find
LE Limited Edition
MIB Mint in Box
NB No Box
NBU Never Been used
NBW Never Been Worn
NM Near Mint
NP Not Packaged
NWT New With tags
OB Original Box
SIG Signed
Condition
P (Poor)
F (Fair)
G (Good)
VG (Very Good)
Mint (As New- No marks or wear)
And now a few terms relating to auctions:
Bid Cancellation
This is were the seller does not accept a bid from a specific bidder. In eBay auctions the seller always has the right to refuse a bid.
Bid Retraction
This is were the bidder withdraws a bid he has made prior to the end of the auction.
EOA Notice
This is the notice that are sent opt to the wining bidder and seller once the auction is finished.
Escrow
A system were a third party holds the money for an item until the buyer receives the goods and can inspect them item and approve it.
Feedback
The positive, neutral or negative comments left by buyers and sellers.
Final Valuation Fee
The total commission to be paid by a seller to eBay.
Non-Paying Bidder
Someone who does not pay for an item they have bought in auction.
Proxy Bidding
Submitting a maximum bid above the actual current bid price. Your bid will increase incrementally as other bids come in until it reaches your maximum price.
Relist
Submit an item again after an unsuccessful auction.
Sniping
Out bidding others buyers at the last minute.
(Often using software to do this)
For an even more comprehensive list of useful auction phrases and terms download The Live & Online Auction Dictionary with our compliments