FAQ
- What is Mazaar?
- Mazaar is a user-friendly ecommerce platform tailored for artisans, makers, and creators. In just a few minutes, you can set up your store with no initial costs. Unlike other auction sites, Mazaar provides a distraction-free storefront, ensuring your audience can focus solely on your creations. It's your space to interact directly with your customers and auction your unique items. Your art, your way.
- How do auctions work on Mazaar?
-
Makers on Mazaar start the process creating unique auctions for their items. They share their personalized storefront with their audience, who can easily engage with the auctions. During the specified auction timeframe, buyers have the freedom to place bids as they see fit, vying for their desired items.
Once the auction concludes, the item goes to the highest bidder. To ensure secure and seamless transactions, Mazaar steps in to collect payments from the winning buyers, utilizing the trusted Stripe payment platform. It's worth noting that Mazaar applies a flat 10% fee, in addition to standard credit card processing fees, to the final payment amount before distributing it to the creator.
Currently, Mazaar's platform is exclusive to invited creators, although buyers can readily create their accounts. This streamlined approach allows creators to connect directly with their audience and facilitates a smooth auction experience for all involved.
- How does automatic bidding work?
-
Mazaar's automatic bidding is an implementation of proxy bidding.
Proxy bidding is a system where bidders submit their maximum bid in advance, and the auction platform automatically increases their bid incrementally to maintain their status as the highest bidder, up to their specified maximum amount.
Bidders can see the current highest bid, but they don't know the maximum bid set by other participants.
The system continues to increase the bid on behalf of the bidder until their maximum is reached or another bidder places a higher bid.
The key difference is that in a blind auction, bidders don't know the current bid amounts placed by others, while in proxy bidding, bidders are aware of the current highest bid but not the maximum bids of other participants. Proxy bidding is commonly used in online auctions, while blind auctions are often associated with sealed-bid or private auctions where confidentiality is important.
The bid increment is based on the value of the current bid:
Current Price Bid Increment $0...1 $0.05 $1...5 $0.25 $5...25 $0.50 $25...100 $1.00 $100...250 $2.50 $250...500 $5.00 $500...1000 $10.00 $1000...2500 $25.00 $2500...5000 $50.00 $5000...Infinity $100.00
- How much does it cost to list items on Mazaar?
-
It's free to setup an account on Mazaar, we only make money when you do. We charge a percentage of the final price of anything listed on Mazaar. We also tier the pricing so that the more an item sells for, the less percentage Mazaar takes.
- 10% on the total amount upto $1000
- 8% on the total amount between $1000 and $7500
- 3% on the total amount over $7500