Frequently Asked Questions (FAQ)

    • What is DollarBid.Club?

      • The Dollar Bid Club is a premier social networking auction website where members can bid on luxury items for $1 or less and purchase something they’ve always dreamed of owning at substantially reduced costs.
        Unlike our competitors such as penny, or traditional auction sites our product provides members with a more strategic vs financial advantage to placing that winning bid.
    • What if I still can't afford my dream item?

      • The Dollar Bid Club believes everyone deserves to live their dreams. So, we've come up with some amazing payment plans that we guarantee will not break your bank and we will work with you to ensure it won't. With rates at bellow CDN prime you can't loose. Also, if you ever wish to sell your luxury item(s) back to us simply email us at social@dollarbid.club or call us at 1-855-258-2121 and we will be happy to discuss buying the item back from you at any time.
    • What are Social Networking Auction Rooms?

      • A social networking auction room is an online virtual room that members can join to bid on luxury items. Every room will have a limited number of seats available and once those seats are full the auction will start. A small room fee of around $5 will apply to each room you join
        Note: Some room fees may be higher or lower depending on the product.
    • Why do you charge a room fee?

      • The room fee does the following:
        1) Validates that the member joining a room is a real person and not a computer program. We believe in providing a fair bidding environment for all our members.
        2) Forms an agreement between the member and Dollar Bid Club in which the member agrees to pay for this item if they end up placing the winning bid.
    • Can I leave a room once I’ve joined it?

      • Yes you can leave a room and receive a full refund anytime up until 24hrs before the auction start time is announced.
    • How can I help get an auction to start faster?

      • Members are provided with a promo code when they share this code and promote our site or auctions they, as well as the new members who uses this code will be rewarded with extra bids increasing their chances of placing that winning bid in their next auction.
    • Once the room is full when will the auction start?

      • Auctions will start every Sunday at 4:30pm EST. Your auctions specific start time may very depending on how many auctions are running that day.
    • What’s the difference between a strategy-based auction and a finance-based auction?

      • - A strategy-based auction allows our members to bid using their own strategies following our bidding system.
        If you learn the system and bid smarter than your components you will win the auction.
        - A financed-based auction system simply allows someone with a deeper pocket to continue bidding until they win.

        Due to the extremely high values of our products and the low prices we are selling them at we wanted to allow our members the ability to buy these luxury items without having to compete against someone who will simply out bid them every time.
    • How do your auctions and bidding system work?

      • Free members get 10 bids in an auction with the following incremental bid quantities and values:
        1 x $1, 1 x $0.90, 1 x $0.80, 1 x $0.70, 1 x $0.60, 1 x $0.50, 1 x $0.40, 1 x $0.30, 1 x $0.20, 1 x $0.10, 10 x $0.01 (10 penny bids within your 10 total bids)
        Paid members have a strategically advantage over free members because they have a higher quantity of bids available to them in an auction.

        Each auction lasts 20 minutes.
        Every 2 minutes you are required to place a bid. If you miss a bid you are removed from the auction.
        For the first 18 minutes every bid requires an incremental element and your best educated guess to what you think the incremental bid will be.
        For the last 2 minutes your bids require an incremental element and your best educated guess as to what the final incremental bid will be.

    • What is an incremental element part of the bid?

      • This part of the bid increased the items value and is the total price that the winner will have to pay for the item at the end of the auction.
    • What is best educated guess element of the bid?

      • This bid is what you think the incremental value of the item will end at every 2 minutes. Be careful here! Every 2 minutes we will remove the highest 15% and lowest 15% of these bids from the auction. To stay in the auction you want your educated guess to end up in the middle of the pack when you make your bid.
    • Why are bidders removed every 2 minutes?

      • By removing bidders every 2 minutes we have created another strategy part of our auction and by design keeps the potential for the wining bidder to pay a lower price. As members get removed the total incremental value potential gets reduced.
    • How do I win?

      • Place all your bids every 2 minutes for 18 minutes and make sure your educated guess is in the middle of the pack. In the last 2 minutes be the closest to guess what the total incremental value will be with out going over and be willing to pay the incremental value total.
    • How much do I lose if I'm not the winning bid?

      • You will only lose the room entry fee.
    • Is The Dollar Bid Club Legal?

      • We take the law very seriously here at The Dollar Bid Club and we have taken every reasonable measure to make sure we are always within the law. We are not a lottery and we take this very seriously, our auctions require skill and strategy in order to become the winning bidder.

        Our goal at Dollar Bid Club is provide a fair chance for everyone to own a little luxury in his or her life regardless of how deep your pocket book is. We will always work diligently for you our customer and partners to make sure you are always protected.
    • How Do I Begin Bidding?

      • Once on the website's homepage simply click “sign up” on the top right of your screen and then select your membership type. We offer packages ranging from free memberships all the way up to a lifetime membership and if you are lucky enough to have received a promo code from a friend then please use it here and you will receive additional bids in the next auction you join.
        Monthly paying members will have a strategic advantage in our auctions over free members.
    • How do I pay for my membership or room fees?

      • All transactions are handled by PayPal which accepts most Credit Cards (Visa, Mastercard) as well as bank transfers.
    • How do I collect my prize?

      • We want you to have the best experience possible, and to be 100% comfortable in your new luxury purchase. For every large item that can not be transported such as Boats, Cars/Trucks, Motorhomes, Bikes, and Homes we will fly the winning bidder and their companion to location of their new purchase. This allows you to validate your new purchase and complete the transaction. Once the transaction is completed we can arrange transportation of most items (cars, boats etc..) to be transported back to your home. In some cases certain items my have legal restriction in transporting them across borders etc.. in these cases we can arrange transportation to the border crossing of your choice within Canada.
    • How do I know that my money is secure?

      • We use PayPal for all our membership fees and room entry fees. For any items purchased and the final transaction of the purchased is over $5000 (CDN) than payment instructions will be done over the phone using our legal counsel and your money will be placed into trust until you have validated and approved of your new purchase. If you do not validate or approve your new purchase than your money will be returned to you immediately minus the travel expenses. In order to protect the company from people fraudulently representing their intent to purchase such luxury items we will deduct the travel costs from your purchase amount and return the remaining amount immediately to you. Any and all travel expenses will be discussed and agreed upon in writing before your money goes into the legal trust account. For our Vacation packages all arrangements for your trip will be completed after full payment is received and will not be placed into trust. Returns and refund policies will be agreed upon in writing via email before your trip is booked.