Sellers are only charged an Auction Transaction Fee if their auctions close successfully (i.e. the highest bid met or exceeded the seller`s reserve price)

Auction Transaction Fee:

The Auction Transaction Fee is 2% of "final value" of the item, which is the selling price at closing.

The Auction Transaction Fee is divided into two payments:
1. The seller pays 1% of the item`s selling price at closing to MedWOW.
2. The seller reduces 1% from the final selling price that the buyer must pay him/her.

The Auction Transaction Fee is not charged if there are no bids on an item or the high bid did not meet the seller`s reserve price.

Buyers:
Buyers do not pay a fee for participating in auctions, however they are charged a 1% Auction Transaction fee of the price at closing to guarantee their intent to purchase the item. They receive this amount back as a price reduction off the total price charged by the seller.

Please view MedWOW`s Fee Schedule for more information about Auction Fees.

Can I cancel an auction that I posted?

No, a seller cannot cancel a running Auction. However, if the seller insists on ending the auction before its scheduled closing time, he/she will have to pay MedWOW a penalty fee. MedWOW provides the resources (including notifying all users) and the auction platform, at a cost, and cancelling an auction before its closing time may greatly disappoint MedWOW’s users.

Can I retract or cancel my bid?

No, once a bid has been made it cannot be retracted. To avoid typos when bidding, MedWOW does not provide a free entry field for entering the bid value, but rather a built-in pick list selection field.

I was the winning bidder in an Auction, but not longer want to purchase the item. What should I do?

Bidding for an item on MedWOW is an irrevocable offer from the bidder to buy the item at the bid price, if his/her offer is the winning bid. However, if the winning bidder insists on not purchasing the item, he/she will be required to pay the Auction Transaction Fee (2% of the value of the bid) in full. In this case the seller will not be required to pay the fee and will receive half of the amount that the buyer paid as compensation.

What if I decide that I don’t want to sell my item to the winning bidder at the end of the auction?

Listing an item for auction on MedWOW is an irrevocable acceptance to sell the item to the winning bidder. However, if the seller insists on not selling the item to the winning bidder at the end of the auction, he/she will be required to pay the Auction Transaction Fee (2% of the winning bid’s value) in full. In this case, the buyer will not have to pay anything, and receive half of the amount that the seller paid as compensation.