Fast Bid Auctions are sort of like an Auction within the Auction.
They’re exclusive versions of the regular Microbid Crowd Auctions that
feature lower bid goals (ie. reserves) and do not have loyalty attached.
So, while you may not earn stars (or coins), you can essentially guarantee
you’ll receive the auctioned item (or service) you want - most times
for far less than face value.
When the total combined fast bids (ie. of all members for a particular
Auction - see
screenshot) reaches
the BuyNow Goal (in bids) - the member with the most fast bids "wins"
(ie receives the item) next. The
BuyNow goal resets and the Auction starts again (and again) producing
new winners over and over again.
Your "total" fast bids accumulates across all cycles (of the Auction) to create
a sort of simple "score", but do
not count towards the actual purchase(s)
of an Auction Item (or Service) in other cycles. Here’s an example:
J has 12 total fast bids
Fast Auction (1st Cycle) - $25 Pizza
(Jae places 2 fast bids)
Fast Auction (2nd Cycle) - $25 Pizza
(Jae places 3 fast bids)
Fast Auction (3rd Cycle) - $25 Pizza
(Jae places 4 fast bids)
Fast Auction (4th Cycle) - $25 Pizza
(Jae places 3 fast bids)
2+3+4+3 = 12 total fast bids
So, if the Fast Auction is now in its 5th cycle, then none of the
above fast bids will actually count towards the "All Fast Bids" total (ie. combined
fast bids of all participating members) in
that 5th cycle - to actually
buy the Auction Item/Service, however, they
will still count towards
Jae potentially winning the 5th cycle/round, ie. being selected this time
as the new/next recipient.
(1) Fast Bids themselves don’t roll-over into new cycles of the
Fast Auction, but they do count towards your overall Total Fast Bids.
(2) If you and another member both have the Top Bid (ie. same amount of
fast bids), but they have 1 (or more) active fast bids in the
current Auction Cycle, then they’ll be awarded the next Auction.
(3) Fast Bids that didn’t result in a won Auction increase
your
Cash Advance approval rate as a secondary benefit
of participating in Fast Auctions.