Auctions Help frankstrade.com Auctions Glossary
Registration and Identity Verification: All sellers,bidders and buyers (except in the case of paid membership) in frankStrade need to verify their identity using phone verification to make sure we know who is bidding or buying and to reduce issues with delinquent users. Identity verification is a hassle free process where you would receive a verification code from us via text or voice call as per you have chosen.
Automatic Bidding or Proxy Bidding: The system automatically places bids on your behalf at the lowest possible increments. You enter the highest amount you are willing to pay, and then the computer goes to work for you. The goal is for you to win your item at the lowest possible price. Your maximum bid amount is placed only when another bidder has actually bid up to that amount.
Auto Resubmit: This option allows sellers to automatically resubmit their auction if an item is not sold at the time of close. The auction will reopen with the same information. The resubmitted item will have a new Item Number.