10 Auction Rules & Info


1)   NO RESERVE - All auctions start at $1 with no reserve.

2)   END TIME - Auctions end only on Sundays at 5pm Pacific / 8pm Eastern.

3)   VERIFICATION TO BID - There is a one-time verification fee of $1.00 to activate account. Once paid, your account can bid seamlessly on all auctions without ever having to verify again. This is a small charge simply to protect/verify bidders. Integrity is our #1 priority at Mineral Exchange.

4)   SALES TAX - Sales Tax is not charged on bullion/numismatic items unless you're a resident of California and invoice is under $1500. 

5)   BUYERS FEE - MX's standard 12.5% buyers fee is added to winning bidder's invoice, discounted to 10% if paid by Check, Echeck or Wire. 

6)   SOFT CLOSEIf bid is placed in the last 5 minutes it will enable "soft close" extending auction for 5 more minutes until the top bidder wins.

-This prevents "sniping" and gives everyone a fair chance to win.

7)   MAX BID - Auctions will only go to the highest price of your underbidder. 

-When you're top bid it will say so with GREEN font. If there is an underbidder with a higher max secret bid the font will be RED and you will be notified that you've been outbid via email. It is good practice to refresh your browser after placing bid to double check whether you are the highest bidder or have been outbid. 

-For Example: If you bid $1000 but the highest underbidder is $500 the auction will only go to $500 and use $1000 as your max secret bid. 

8)   REFRESH BROWSER - If you have already set your max bid you do not have to worry about this but if you want the most accurate current bid especially at the end of the auction it is important to keep refreshing your browser.

9)   SHIPPING - Mineral Exchange currently only ships within the U.S. and uses USPS priority or Express Mail with signature confirmation. 

-Priority Mail - Base Cost $13 / Max Cost $25 

-Express Mail - Base Cost $28 / Max Cost (Depends on weight)

10)   INVOICES - Winning bidder will receive their invoice via email they provided to make account. Please make sure to check spam folder in your email if you do not see in normal inbox. All invoices will be sent within 24 hours of auction end. If invoice is not paid within 5 business days Mineral Exchange reserves the right to revoke invoice and offer item to underbidder. 

 

Please call, text or email with any questions or concerns:

info@MineralX.com
(310)-741-0217