What are Sincerity Price, Starting Bid Price, and Have Paid Price?
The Sincerity Price is the price at which a Buyer will commit to purchase using a Seller identified through Sorcity.com. The Buyer expects the Reverse-Auction to produce a price at or below the Sincerity Price. The Sincerity Price is important because it determines if you receive Seller names from Sorcity.com, because any bid above that price does not meet your purchase requirement. A Starting Bid Price is the price at which the Buyer directs the Reverse-Auction to open. The Starting Bid Price should be low enough to encourage Sellers to participate, but high enough to stimulate bidding. It should always be above your Sincerity Price. A Have Paid Price is the price you have paid previously for the same item(s) not using Sorcity.com. This price is NEVER revealed. The Have Paid Price is used to calculate your savings during and after the Reverse-Auction which is a great tool for you. Bidding Exception: If you hold the Final Bid at the end of a Reverse-Auction and your minimum bid does no
