10 Auction Rules & Info


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

2)   END TIME - Auctions start every Monday and always will end on Sunday between 4-6pm Pacific Standard Time. We usually stagger auctions by 1-3 minutes to give some space between auction end times. 

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 not for us to profit, it is a small charge simply to protect our community and validate bidders. Integrity is our #1 priority at Mineral Exchange, this is why we choose to verify our bidders when many others do not. 

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 10% buyers fee is added to winning bidder's invoice. All auctions start at $1 with no reserve so please take this into consideration when setting your max bid.

-MX accepts deluxe echeck, check, or Wire Transfer.

-Paypal is accepted on invoices under $10,000 for an additional 3% fee. 

6)   SOFT CLOSEIf bid is placed in the last 1 minute it will enable a ONE TIME "soft close" extending auction for 5 more minutes then a hard close. This last 5 minutes prevents you from getting "sniped" and gives everyone a fair chance to win. Keep in mind to refresh your browser for most accurate bid info.

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 to 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