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Name Your Price is a reverse auction, where a buyer lists the product he wants at
the price he wants to pay. The buyer can be specific on quantity, product age and
pack size. If the seller meets the price, the buyer pays exactly that price -
nothing more. Once a seller meets the buyer’s price the transaction is closed, and
the buyer will receive an invoice immediately via e-mail. If a seller chooses not
to meet the listed price but would like to submit an alternate offer, the seller
can e-mail a higher offer that the buyer has the option of accepting or rejecting.
This is a risk-free practice…buyers do not have to accept any higher offer than
they are willing to pay.
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A Step-By-Step look at the Name Your Price process:
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- Both the seller and the buyer complete the online registration process
including shipping points, regulatory and banking information.
- The buyer chooses Name Your Price from the BUY page and lists product,
pack size, maximum delivered price and quantity.
- The seller clicks on a Name Your Price listing and determines if his
delivered price meets the buyer’s requirements.
- A sale is complete when the first seller meets the buyer’s requirements.
- A funds transfer from the buyer takes place immediately.
- Upon successful funds transfer, the freight company is dispatched to the
seller’s location.
- The product is delivered to the buyer’s location.
- The buyer inspects and accepts the product.
- Funds are released to the seller.
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Frequently Asked Questions About the Name Your Price process:
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How do I know the freight costs?
The seller is responsible for calculating freight charges. With a Name
Your Price trade, the price is a "delivered" price, meaning that price
is a combination of the product cost and freight cost. When a seller
considers your listed price, he will look at both the freight charges
and the product cost to determine if he can meet your price. There are
no additional freight charges.
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How do I know if I have any offers?
You will receive all offers or met price notifications by e-mail. This
e-mail will contain a link to the page on our web site that allows you
to accept or decline the offer. To accept an offer, all you have to do
is click the button that says, "I accept," and your trade is complete.
Once a seller meets your price the transaction is closed, and you will
receive an invoice immediately via e-mail.
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What if I don't receive any offers?
If you don't receive any offers, chances are your asking price is too
low — remember to be realistic when listing the delivered price you are
willing to pay. Many buyers list a price that is 10-20% below retail
prices. If you think the price you listed is too low, you can raise your
price by editing your listing. While editing the listing, you can also
increase the volume desired and the length of time you want this listing
open. Simply click the "edit listing" button and make the changes that
you want.
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