how does bidding for prizes work?
If you bid on a prize and lose, do you only lose the entry fee? Or do you lose all of the oddles that you've bid, too??
Yes you lose the entry fee, but only lose the oodles you bid if you win. But its a blind auction, so you can't see how many oodles everyone else has bid or how many you need to beat them.
Here are the Terms and Conditions for oodles auctions:
"Oodles Auction Terms and Conditions
Limit of one (1) bid per auction per user account. Each bid is subject to an Oodles entry fee in the amount stated on the applicable auction bid page. To participate in an auction, users must complete a bid for their desired item, stating the amount of Oodles they will pay for the item, without seeing any other bids for that item. Once a user places a bid, the applicable entry fee will be deducted from his/her Oodles account and cannot be refunded. Every auction ends upon expiration of the stated time limit. The highest bidder will be declared the winner, and the amount of Oodles that he or she has bid will be deducted from his/her Oodles account and cannot be refunded. If a potential winner does not have a sufficient amount of Oodles in his or her account to cover the amount of his or her winning bid, the item will be awarded to the next highest bidder. In the event of a tie between two potentially winning bids, the individual who placed the winning bid FIRST (based on the clock used by GSN’s website server) will be deemed the winner, and GSN’s decision regarding who placed the bid first shall be final. GSN reserves the right to periodically post the current highest bid for a given auction at any time and reserves the right to cancel, schedule or re-schedule any auction at its sole discretion. "
That should explain everything, hope it helps... good luck!
Thanks 'joeandlizhinz'! I appreciate the info!!!