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NAXCOMAuctions.com Info/FAQ

Welcome to www.NAXCOMAuctions.com "Auctions Done Right" Info/FAQ Page

On November 7th, NAXCOM expanded its Online Marketplace to Auctions with the introduction of NAXCOMAuctions.com. Similar to NAXCOM.com, its auctions are created to ensure the safest and fastest online auction buying and selling possible. NAXCOM has included many of its most popular features (Buyer/Seller Protection, No Listing Fees/Upfront Risks, etc) and combined them with new features (Combined Shipping, Dynamic Auctions, etc) to create the best possible auction site for users to both buy and sell on.

Below are some important facts on how the New NAXCOM Auctions Work.

Bidding on a Seller's Auction

Auto/Proxy Bidding:
Bidding on an item is simple. Each auction shows the starting bid or current high bid along with the next incremental minimum bid. You can post your maximum bid that you are willing to pay. The NAXCOM Auto Bid feature will only display the lowest possible bid needed to make you the high bidder. For example: If you post a bid for $100 on an auction, but another user has only posted a bid for $50, then your bid will only be posted for $51.00 (the next increment). The Auto Bid will continue to post the lowest possible bid until you are the winner at or below $100 or until you are outbid by another user.

Dynamic Auctions
NAXCOM's Auctions are all "Dynamic Auctions" which extends an auction time by 60 seconds, any time a bid is placed within the last 60 seconds of an auction. Dynamic Bidding allows bidders interested in an item to continue bidding on items, without worrying if they are going to outbid in the very last second.

Reserve Bid:
When a seller sets a Reserve Bid amount, they are putting a price, which is not disclosed to the bidders except to announce whether the Reserve Bid has been met, which is the lowest bid that they will accept as a successful auction.

Credit Card On File:
To ensure that users of NAXCOM Auctions are legitimate, users are requested to have to a credit card on file. If you can not or are uncomfortable with putting a credit card on file, you can contact Marketplace intom at 877.255.3162 to make alternative arrangements. Click Here add a Credit Card on File or you can add one later by clicking on the link above.

Buy Now/Make An Offer

Buy Now
The Buy Now Price is set by the seller at the amount that they are willing to stop the auction and sell their item for right now. When listing an item for auction, Sellers can choose to have their buy offer removed once a bid is placed, the bid is within 50% or 75% of the buy it now price or within 24 hours of their auction end time. *Please note that the seller has the option to not include a buy it now price with their auction. In addition, the buy it now price is automatically removed within the last 24 hours of the auction end time. When an item is purchased outright using Buy Now, the auction is automatically closed and all bids are cancelled.

Make an Offer
Users have the option to Make an Offer to a seller for a specific item. Once a "Make Offer" is made, the seller can accept, counter or decline the offer. When an item is purchased outright through the Make Offer, the auction is closed and all bids are cancelled. *Please note: If an auction closes with no bids or below their reserve, buyers can then "Make Offer" to the seller to purchase the item.

Shipping (Combined Shipping + Combined Transaction Fees)

NAXCOM Sets "Fair" Shipping Prices on All Auctions:
All Shipping Prices are set by NAXCOM based on USPS charges of the item's weight and where the buyer and seller are located. This feature ensures both the buyer and seller that a "fair" shipping and handling cost will be set. So, unlike other auctions sites, buyers don't have to worry about all of the different Shipping/Handling charges that different sellers set for the same item, or hidden costs that are often included with listings after the sale. This feature also saves the seller time when they are listing their auctions.

For any item over $10, buyer is required to pay a Ship ping Insurance / Buyer Protection Shipping Fee. The seller has the option to pay their shipping company the insurance fee or self-insure their package. However, in the event that an item over $10 is not received by the buyer and there is no proof of delivery, NAXCOM will refund the buyer from the seller's account. NAXCOM does keep track of buyers that continuously report not receiving their items and NAXCOM will take appropriate action against buyers that attempt to abuse the system.

Combined Shipping
When a buyer wins multiple auctions from the same seller in the same calendar day (M-F Midnight to Midnight PST) - NAXCOM automatically combines the auctions shipping costs (minimum $0.60 per add'l item).

Transaction Fees Combined
When the shipping costs are combined, so are the transaction fees. (The Payment Processing fees, however, are not combined).

Paying for an item

Paying for an item is Automated & Convenient
When an auction closes, the buyer's NAXCOM Account and/or Credit Card on file is immediately charged. Users do have the option to have NAXCOM Set-up their account to pay for items after the auction closes (contact Marketplace into 310.568.8825 x114 to request paying for auctions with PayPal/Credit Card/Check/M.O.) after the auction closes. Users has a third option and can also pre-fund their NAXCOM account.

Failed Payment
In the event that the buyer's NAXCOM Account and Credit Card on file fail, an automated email will be sent to both parties. The winning bidder will be directed to a page to pay for the item they won. If the buyer does not pay in 3-5 days, they will be contacted by NAXCOM again. In the event that the buyer still does not pay for the item, NAXCOM will reverse the transaction, and the winning bidder's account will be suspended or permanently removed. The seller can also contact the buyer during this time or they can choose to let NAXCOM handle the collection process.

Exclusive Buyer Protection Guarantee

All transactions go through the buyer's NAXCOM Account. Once payment is made, the funds are placed into the seller's NAXCOM Holding Account. The buyer has up to 12 days to file a dispute if the item is not received or is received but not in the condition advertised. Once a dispute is opened by the buyer, the seller is immediately contacted and an investigation into the transaction begins. NAXCOM does keep track of buyers that continuously report not receiving their items and NAXCOM will take appropriate action against buyers that attempt to abuse the system.

In over a Million Transactions on the NAXCOM site, never once has a buyer purchased an item and not gotten their item or their money back if they opened their dispute in the alloted time and there was no proof of delivery. This buyer protection guarantee gives buyers the confidence to buy on NAXCOM, which enables sellers to realize better prices on their items.

Bid Increment

The Bid Increment is the minimum amount that the next bid needs to be placed at.

The NAXCOM Auction Bid Incrments are as follows:

$0.01 - $.99 = $.05
$1.00 - $4.99 = $.25
$5.00 - $29.99 = $.50
$30.00 - $99.99 = $1.00
$100.00 - $249.99 = $2.50
$250.00 - $499.99 = $5.00
$500.00 - $999.99 = $10.00
$2500.00 - $4999.99 = $50.00
Over $5000.00 = $100.00

Sellers - How to list & receive payment for your sales

NAXCOM Auction Listings Info: Posting listings on NAXCOM is completely Free. In addition, many upgrade fees are completely free or very minimal and the Final Value Fees are well below other Online Auction Sites (see below).

How to List: To list an item click on the "List an Auction" button on the top right corner of every page. Here you will fill out your items details along with the Quantity and your Buy Now Price (no additional fee). Every seller gets a Free Storefront on NAXCOM (VIP Upgrade Storefronts are also available) and every listing you create automatically gets listed on NAXCOM & Your Storefront. To send your listing to auction, there will be a "Send to Auction" button on the confirmation listing page, where you will fill out the auction details including your starting bid & date of your auction. Once posted your listing will now be live on your NAXCOM, Auctions & Your Storefront.

Consecutive Auctions: On NAXCOM Auctions, you have the ability to run consecutive auctions for an item until all of the items are sold. For example: If you have 75 Signed Photos, you can choose this feature to run 1 Auction until all items are sold. While 1 Auction is running your remaining inventory is for sale on NAXCOM & your NAXCOM Storefront. The cost to run a consecutive auction is $.02/listing. Therefore, to run a 7-day auction every week for a year would only be $1.04.

Collecting Payment For Your Sales: As soon as the Auction closes, NAXCOM charges the buyers Credit Card on file. If a users account is set up to pay with PayPal after the auction closes, an automated email is sent to the buyer with a link to pay for their winning auciton. Once payment is received, your NAXCOM Pending account is immediately credited. The transfer from your pending account to your NAXCOM cash account (where you can cash out via Check or PayPal or use the money to purchase items on NAXCOM) depends on your membership status:

After you confirm shipment on your Current Sales Page, your cash account will be paid accordingly:

VIP Gold: 3 days (up to $1500)
VIP Silver: 3 days (up to $750)
VIP Bronze: 6 days (up to $250)
Non-VIP Regular Members: 12 days

For More information about becoming a NAXCOM VIP Seller contact the NAXCOM VIP Department at 310.568.8825 x104 or Click Here for More Details.

Transferring Your eBay Feedback to NAXCOM: If you are a new seller to NAXCOM that have an excellent feedback rating on eBay, you can use your feedback rating to get started on NAXCOM. Simply contact VIP@naxcom.com (310.568.8825) with your eBay User ID & your NAXCOM Account Number (located within your NAXCOM Account). This way you don't have to start from scratch (*Please note: your eBay feedback rating is not changed).

Transaction Fees

NAXCOM "No Listing Fee" Auctions, allows sellers to list auctions without any risk. Only if the item sells would there be a transaction fee (see below). NAXCOM Auctions do have some "very low" optional fees for users that allow the sellers auction to be featured, highlighted and/or provide convenience. *Please note: Buyers do not pay a fee. The only additional cost a buyer has is the Shipping/Handling Fee that they pay to the seller.

Optional Upgrade Listing Fees:
*Consecutive Listing Fee: $.02/listing
Top Banner Line: $.05
Shaded with Border: $.05
Featured at Top of Search Results: $.15
Featured on Auctions Home Page: $1.50
Add'l Images (#3 & #4): $.05ea.
Reserve Price: $1.00

Auction Transaction Fees:

First $.01 - $25.00 = 4.95% (minimum $.10)
Next $25.01 - $1000.00 = 2.85%
Remaining amount over $1000 = 1.35%

Payment Processing Fee:
All buyer's payments are made through NAXCOM. Buyer's have the option to pay via PayPal, Credit Card, Check or Money Order. NAXCOM charges the seller its average costs (2.79% + .29) on every transaction.

Buy It Now Fee:
If an item closes through a Buy It Now or through Make an offer, the transaction will go through the shopping cart. Therefore, the NAXCOM Storefront/Fixed Price Fees are charged. Click Here to view the Storefront/Fixed Price Fees.