In order to make your bidding experience more enjoyable, AMExchanges.com is providing you definitions to some common items seen on the bid form and in Auction Item descriptions.

• Auction Closing
  The time and date chosen for the Auction Closing by a Seller and accepted by AMExchanges.com. AMExchanges.com currently does NOT offer extension on any auction.
• Auction Item
  An item, lot, or material, whether one or more, that is subject to the AMExchanges.com auction venue.
• Auction Payment
  The amount of the Payment to be made by the Successful Bidder for the Auction Item.
• Auction Types
  AMExchanges.com offers traditional Single Lot Auction or Break Lot Sales Auctions. A Reserve Price or BUY IT NOW Price or both may be applied. Reserve price option Is not available when the seller accepts break lot sale in Overstock Material Auction.
• AutoNotify
  A feature located in user registration page section of the AMExchanges.com site where a Registered user may request to be notified via email of any new auction postings related to their specific interests in a specific product category or all AMExchanges.com’s auctions.
• Auto bid / Proxy Bidding
  The "Proxy" system employs an automated bidding system which implements your bidding directions. For example, you may enter a bid for the "minimum" required, or set an amount that represents your "maximum". If you enter a maximum the system will automatically engage a Proxy for you, which will start by bidding the minimum needed to top the last bidder.. It will then keep your maximum bid a secret, but fight off any other bidders automatically. It will never bid more than you entered, and it will always bid as little as possible to keep you at the top. If it runs into your limit, it will stop bidding and AMExchanges.com system will send you an e-mail and advise that you are out bid.
• Bidholder
  also known as Current Bidholder; See Below for definition.
• Bid Retraction
  A Bid is not retractable except under circumstances deemed appropriate by AMExchanges.com. Such circumstances may include, but are not limited to, 1) Seller's later material and significant change to the description of the Auction Item listed for sale which was unknown or unforeseen at the time of posting, 2) a material and significant descriptive or typographical error with respect to the Auction Item, 3) the later addition of a term or condition not presented in the original posting. Each Registered Buyer is responsible for any Limit Bid which they place. A Bidder can always place higher bids, but a Bidder cannot place a Limit Bid for an amount lower than their own previously placed Limit Bid nor lower quantity.
• Blind Bid Auction
  The format in which each Traditional Auction is conducted. No Bidder knows the identity of their competition during the auction, nor do they know the amount of the bids in which other Registered Buyer(s) have placed during the auction. The only information available to a Bidder during an Blind Bid Auction is that Bidder's own current rank; i.e. first or fourth place at any given time and the Current High Bid Amount. AMExchanges.com currently does NOT offer Blind Bid Auction.
• Bid Price Increment
  For current biding unit price less than US$0.100, the bid price increment will US$0.001. For the current biding unit price over US$0.100, the bid price increment will be 1.5% of current biding unit price.
• Break Lot Sales
  The seller is willing to sell its items in a smaller lot. This option Is only available in Overstock category. When the seller click break lot sales is available, we strongly recommend the seller enter min. lot size. In a break lot sales auction, the seller can not set reserve price.
• Buyer or Registered Buyer
  A prospective Buyer that (a) registers with AMExchanges.com and (b) receives acceptance of such registration by Alliance Magnetics HK Ltd.
• Closed Auction
  Any auction in which the time limit has expired for receiving new bids. A Closed Auction includes both auctions which have expired at the Auction Closing and auctions which have expired in accordance with the Extended Bidding Rule (if apply).
• Completed Auction
  Any auction which results in a "Winning Bid" at the Auction Closing.
• Current Bid
  A Registered Buyer's bid amount as of the current time and date on an Auction Item.
• Current Bidholder
  The Registered Buyer who has placed a bid on an Auction Item and holds the Current Highest Bid for that Auction Item with that bid.
• Current Highest Bid
  The highest bid as of the current time and date on an Auction Item during an auction.
• MinBid
  This is the Minimum Bid needed to open bidding on an Auction Item. Also, see Starting Bid definition.
• Minimum Raise
  The amount by which a bid must exceed the Current High Bid. Bid Increment is defined as 1.5% increment for the unit price above US $0.10 per unit. For unit price that is lower than US $0.10, minimum bid increment is US $0.001.
• Registered User
  A Registered Seller or a Registered Buyer.
• Reserve Auction
  Also known as Reserve Price Auction; see definition below.
• Reserve Price
  The amount for which the Seller is obligated to sell the Auction Item in a Reserve Auction. This amount will be hidden and only the seller can see the reserve price. In a Reserve Price Auction, the Seller places a Reserve Price, and the Seller is not obligated to sell the Auction Item unless the Winning Bid is equal to or greater than the Reserve Price. In the case of current bid is lower than the reserve price, there will be notation (Note: Reserve price not met) under the current highest price. In the break lot sales auction, reserve price is not applicable.
• Right of Refusal
  Seller's right to refuse sale of a Auction Item in a Auction if the Reserve Price has not been met or exceeded.
• Seller or Registered Seller
  A prospective Seller that (a) registers with AMExchanges.com and (b) receives acceptance of such registration by Alliance Magnetics HK Ltd.
• Starting Bid
  The minimum bid that a Seller may require to open bidding on an Auction Item. There may or may not be a Starting Bid in an auction. If the auction is a Reserve Price Auction, the Starting Bid is not the Reserve Price.
• Subject to Prior Sale
  AMExchanges.com does not allow any items to be posted under these terms. Any items for sale at AMExchanges.com by Sellers are available and are not subject to prior sale. If a Bidder places a Winning Bid, then that Bidder has a legal contract for that material.
• Successful Bidder
  The Registered Buyer that places the Winning Bid in an auction.
• Watch List
  A Buyer may save time searching for that Buyer's favorite open auctions by adding them to a Watch List. When a Buyer returns to the My AMExchanges section of AMExchanges.com that Buyer will be able to view on one screen the progress of all the auctions added to the Watch List. To select this feature on the bid form, simply click the Add to Watch List button at each auction item page.
• Winning Bid
  All winning bid has to meet reserve price, if it is applicable. It could be the highest bid in a single lot Auction. Or, BUY IT NOW purchase in AMExchanges.com system is considered as Winning bid. In the break lot sales auction, the winning bid does not have to be highest bid. In the event two or more Buyers tie with limited quantity to sell in a breakable lot auction, the Winning Bid shall be awarded to the Buyer who first placed the last bid price with AMExchanges.com.