How it Works: The Auction

Steps to Bid:

1. Create an account by clicking the “profile” icon in the top right corner. 

2. Add a payment method to your account on the My Account page

3. Review our Student/Parent Info page.

4. Bid on your auctions of choice!

Additional Information and Features

1. Pricing: Auction pricing is set by homeowners, not ParkNShark. Pricing for all auctions is semesterly.

2. Fees: A cumulative 5% auction and transaction fee will be added to all final auction prices. 

3. Responsibility: All bids are binding and final. 

4. Reserve Price: If the reserve price of an auction is not met, the auction will be manually extended by 30 minutes. Additionally, auction listings will not indicate whether the reserve price has been reached to maintain a level playing field and encourage fair competition among all bidders.

5. Buy it now: Paying the buy it now price for an auction by clicking the “buy it now” button and proceeding through checkout will allow you to bypass the auction process. As soon as the buy it now price for an auction has been paid, the auction will be delisted. 

6. Overtime: If a bid is placed in the last one minute of an auction, the auction will be extended by a minute. This is to prevent bidders with faster internet connections or automated scripts from unfairly bidding on auctions at the last second. 

7. Automatic bidding: By entering your maximum bid for an auction, our system will automatically bid for you, increasing your bid by the minimum increment, up to your maximum. 

8. Minimum Increment: The minimum bid increment for all auctions is $25.