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Dislaimer:  Tagvillage Bazaar is an online entertainment shopping site.  It is
similar to other penny auction sites. Personally, I don’t participate in penny
auction sites and I don’t participate in Tagvillage’s bazaar.  To me it is a form of
trying to get something of great value for very little. Although it isn’t technically
classified in legal terms as gambling, in my book it is gambling.  I’ll continue to
invest my time and effort in tags and the long  term rewards of owning high
value tags.
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I now have bazaar news. As of July 30th, tagvillage began to fully disclose to all members how the tagvillage Bazaar will work.  tagvillage has also put up a great FAQ section that fully explains the Bazaar. To read it, please click the link at the end of this article and don’t forget to ask your questions.

Bazaar basics…

The amazing manner by which goods and services are sold on tagvillage is the known as the TagVillage Bazaar. It is unlike any other marketplace in the world. The Bazaar offers sellers a place to sell their wares to a worldwide community and at the same time offers members globally a place to buy things at a HUGE DISCOUNT!

The Bazaar is an auction. However, unlike traditional auctions the members are not bidding for the item itself, but for the right to pay an incredibly low price for the item. There are two auction environments in the Bazaar: Tag (Keyword) Auctions and Item (Realworld Product) Auctions.

How do Bazaar auctions work?

Members purchase Bazaar Bids by exchanging tagvillage Credits for bids. Each bid costs just 0.50 tagvillage Credits. Bazaar Bids are pre-paid and can be viewed in the My Credit History section of your tagvillage account. Each time you place a bid, a bid will be deducted from your remaining bids. Once a bid is placed in a Tag auction, the auction price of the Tag will go up by 0.01 tagvillage Credits. Once a bid is placed in an Item auction, the auction price of the item will go down by 0.01 tagvillage Credits. If a Tag auction reaches the Target Price, or an item auction reaches 0.10 tagvillage Credits, a timer will begin counting down from 30 seconds to 0. A maximum of 30 seconds is added to the timer every time someone bids, however the number of times the timer can be reset will be limited by a complex calculation performed by the computer. The number of times the timer can be reset will not be published. The countdown timer gives enough time for someone else to make the decision to bid if they’re interested and is similar to the “Going once…Going twice…SOLD!” style of traditional auctions.

If you are the last bidder when the timer reaches zero, you win! You will then pay the ending auction price using tagvillage Credits. Shipping and tax are included in the ending auction price. If you do not win, you lose your bids that have been placed. Tagvillage never wants anyone to walk away empty-handed, so a special Activity Points Pool is divided among the members who participate in an auction but do not win! A Buy it Now feature is also offered on ALL auctions! When you use the Buy it Now feature, the cash value of the bids you’ve placed is subtracted from the Global Value Price of the item, and you only have to pay the difference. It’s just like buying the item at retail price! If a member participating in an auction chooses to use the Buy it Now feature, the bids placed by the other auction participants are returned to them.

Let’s say you spend 30 bids trying to win an item valued at 100 tagvillage Credits and you decide to use the Buy it Now feature. Your 30 bids are worth 15 tagvillage Credits (30 x 0.50 tagvillage Credits), so you will pay 85 more tagvillage Credits. This feature limits the risk in participating as we offer the Buy it Now feature on all of our auctions.

Item (Realworld Product) Auctions
In normal auctions, items start at a low price and the price goes up with each bid. In the tagvillage Bazaar, items start at a very low price and the price goes DOWN with each bid until it reaches 0.10 tagvillage Credits.

Sellers list a product or service in the Bazaar and set an incredibly low price for the item. tagvillage members see the item listed and can bid for the right to pay that price. When a member places a bid, they are listed in the winning position. However, if another member bids, the new bidder will be listed in the winning position. Each time a person bids on the item the price drops by 0.01 tagvillage Credits until it falls all the way to 0.10 tagvillage Credits!

Once the item falls to 0.10 tagvillage Credits, a timer starts to count down from 30 seconds to zero. Members may continue to bid. Each time a member bids during the countdown timer, the timer is reset to 30 seconds. The resets occur up to a secretly calculated number of times. Once the timer counts down to zero, the final winning bidder will have the right to purchase the item for the current listed price.

Tag (Keyword) Auctions
Just like normal auctions, Tags start at 0.00 tagvillage Credits and the price goes up with each bid. However, in the Bazaar you will be able to buy highly valued Tags for WAY LESS than their retail price!

Members have the right to list their high value Tags in the Bazaar. The computer will calculate an incredibly low Target Price for the Tag and start the auction for the Tag at 0.00 tagvillage Credits. Other tagvillage members will see the Tag and can bid for the right to pay the listed price. When a member places a bid, they are listed in the winning position. However, if another member bids, the new bidder will be listed in the winning position. Each time a person bids on the Tag the price increases by 0.01 tagvillage Credits until it reaches the Target Price.

Once the Tag reaches the Target Price, a timer starts to count down from 30 seconds to zero. Members may continue to bid. Each time a member bids during the countdown timer, 0.01 tagvillage Credits is added to the price and the timer is reset to 30 seconds. The resets occur up to a secretly calculated number of times. Once the timer counts down to zero, the final winning bidder will have the right to purchase the Tag for the current listed price.

For more information about the Bazaar, please click HERE

To join tagvillage, register HERE.