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REVERSE AUCTION

 

Welcome to the CyberRocks Reverse Auction.

To celebrate our 10 year presence on the Internet, we thought we would do something special for our customers. We considered a regular auction, but we though we would run our auction a little different than most. Now a reverse mineral auction is not new, but we have added a twist. Each specimen will begin with the regular, everyday price and be reduced each day by 10% until the specimen sells. However at the beginning of the auction, you can determine on what day you want to purchase the specimen / how much you want to spend for it. No more staying up until midnight to get the extra 10% savings. If no one chooses to purchase the specimen on a day before the one you selected, the specimen is yours.

 
 

FOR EXAMPLE:

 Let's say its Monday, 9/24. Collectors evaluate the specimens and decide at what discount they would like to purchase the specimen.

                                                                                                 Date of Discount     Discount Amount      Purchaser

  9-24   195.00  
  9-25   175.50  
  9-26   156.00  
  9-27   136.50  
  9-28   117.00  
  9-29   97.50  
  9-30   78.00  
  10-1   58.50  
  10-2   39.00  
  10-3   19.50  



                                                                                               
Diamond in Conglomerate,
Minas Gerais, Brazil                                                          

 Someone, call him "Frankie" decides they will purchase the specimen on Wednesday, 10/3.
     The listing would look like this:

TODAY IS Monday, 9/24

                                                                                                 Date of Discount     Discount Amount      Purchaser

  9-24   195.00  
  9-25   175.50  
  9-26   156.00  
  9-27   136.50  
  9-28   117.00  
  9-29   97.50  
  9-30   78.00  
  10-1   58.50  
  10-2   39.00  
  10-3   19.50   Frankie



                                                                                              
Diamond in Conglomerate,
Minas Gerais, Brazil                                                          

 "Ann Bradley" decides she will get it on Sunday, 9/30. The listing changes to:

                                                                                                 Date of Discount     Discount Amount      Purchaser

  9-24   195.00  
  9-25   175.50  
  9-26   156.00  
  9-27   136.50  
  9-28   117.00  
  9-29   97.50  
  9-30   78.00   Ann Bradley
  10-1   58.50  
  10-2   39.00  
  10-3   19.50   Frankie



Diamond in Conglomerate,
Minas Gerais, Brazil                                                          

 If no one else bids on the specimen between now 9/24 and Sunday 9/30, Ann Bradley will be the winner of the reverse auction.


Tuesday 9/25 arrives and the price for the Diamond in Conglomerate is now $175.50. If someone selects Tuesday, then they will be the winner. If someone selects Wednesday, 9/26, let's say "Stan", the listing would look like this:

 

         TODAY IS TUESDAY 9/25

                                                                                                 Date of Discount     Discount Amount      Purchaser

  9-24   195.00  
  9-25   175.50  
  9-26   156.00   Stan
  9-27   136.50  
  9-28   117.00  
  9-29   97.50  
  9-30   78.00   Ann Bradley
  10-1   58.50  
  10-2   39.00  
  10-3   19.50   Frankie

           

Diamond in Conglomerate,
Minas Gerais, Brazil                                                          

If no one selects Tuesday, 9/25, Stan will win the reverse auction on Wednesday, 9/26. With it still being 9/25, Frankie, Ann Bradley or anyone else could select Tuesday and win the auction that day.

 

Putting it another way:

A. The CyberRocks " First ever reverse auction with proxy selection on the Internet " auction is downloaded to the Internet.

B. You select a date and decide you are willing to purchase the specimen at that discount on that date.

C. The first person who selects a date, will be given that date.

D. The CyberRocks " First ever reverse auction with proxy selection on the Internet " auction begins and if no one has
      selected the first date, we wait until the next day.

E. The second date of the auction comes and if someone has selected that date, they win the reverse auction.
      If no one selected that date or no one decides to purchase the specimen that day, we wait until the next day.

F. We proceed day by day until we come to a date that someone has selected.
 
G. You can select more than once. Say it's Monday and you have selected Friday to purchase the specimen. Someone else
       picks Thursday. You can then select again.  You could pick Wednesday, Tuesday or since it is still Monday, you could
       select Monday and receive that day's discounted price.

H. This is NOT an automated reverse auction, so I will be updating the listings on a regular basis, at least 2-3 times daily,  
      or whenever necessary.

bulletIf there are any questions concerning the auction, please E-mail me and I will answer them individually.
 
bulletThere is no need to pre-register, but if you decide to take part in the auction and place a bid on a specimen, we will consider it sold to you on that date.
 
bulletShipping and payment information can be submitted by E-mail.
 
bulletPlease do not bid on a specimen if you are not serious about purchasing it.
 
bulletCyberRocks reserves the right to change any aspect of the reverse auction at any time for whatever reason.
 
bulletCyberocks is not responsible for typographical errors.
 

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