We designed our auctions to allow winners to get skins at prices much lower than the price market but at the same by allowing us to make profit and stay in business.
« Our auctions are competitive and combine skill with strategy vs. other auction participants »
Goal: The goal is to be the last bidder when the auction ends.
Rule #1: When the timer gets close to 0, other participants can bid to add more time to the clock.
Rule #2: If you are the last bidder and the timer reaches 0, you win!
Rule #3: If no one bid, no one win
Conclusion: In order to win, you have to be ready to continue bidding against your opponents.
#1 - 50 bidders all bid on an item worth $50.
#2 - The bid cost is 25 Diamonds which represent $0.25 each bid.
#3 - The bidders spend a total of 7500 Diamonds on auction bids (each bidder spend around 150 Diamonds or $1.50).
#4 - Why the final price in this example is $3 ? Because there were 300 bids in total on the auction (7500 diamonds in total / 25 diamonds bid cost = 300 different bids) and 1 bid = 1 cent, so 300 x $0.01 = $3
#5 - The winner of the auction will pay $3.00 (300 Diamonds) to purchase the item and also had to pay for the bids he used for the auction. Let’s say in this example the winner placed 20 bids (20*$0.25 = $5.00). So the total amount the winner pays is 5.00 (which you have already paid for by bidding) + $3.00 (final price) = $8.00 for a $50.00 skin, saving $42.00.
#6 - The losers of the auction lose their Diamonds (The risk for participating and potentially getting a great deal)
Finally the site makes $75.00 in revenue on the auction and pays $50.00 (steam market price) for the skin which equals $25.00 in profit. This profit is used to pay for development, hosting, support and marketing.
Is this legal?
Yes, unlike skin jackpot and gambling sites, this model is 100% legal.
What happens to my Gems if I don’t win? Do I get them back?
No, the objective is to win the auction so you don’t get your Diamonds / Rubies back when you lose. It’s what you risk to play and potentially get an amazing deal.
How much do I have to pay if I win the auction?
You pay the final auction price, plus whatever you have already spent on bids in auction.
Does the winner have to pay for all the bids of all of the players when he wins?
No - this would make no sense. You pay for your bids only and the final price of the auction. That’s it.
Don’t you guys make a whole bunch of money off these auctions?
We make money on most auctions - some we make a lot on and some we lose money on. It’s our risk for running the site. Keep in mind that it also costs money to hire developers to build and improve the product, hire support staff and market the site to new users. When all of these costs are factored in, we make a good return, but we’re certainly not ‘getting rich off of our users backs’.
Yeah right you just use bots or employees to bid against your players!
No, we do not. We take this very seriously. Here’s why:
Why can’t I buy Gems with skins?
The skin market isn’t really stable at this time so we prefer to wait and see what happen with Steam Market.
Each time someone bids on the auction the price of the item goes up by $0.01. Why?
Because that keeps the final price of the item low so that the winner gets a great deal. That’s the whole point after all.
Why does the auction time go up when people bid?
Because this is the game, it's about judging when to bid and when not to bid and get to know your bidding enemies! - it makes the auction more exciting and fun!
Doesn’t everyone just lose money on this?
No - we have many players who win consistently over time because they bid wisely and are disciplined in their strategy. We recommend new players bid on smaller items with lower bid costs and take part in auctions on non-peak hours to get the hang of things before going in big. In fact, your odds of winning here are much better over the long term than on (illegal) gambling sites where the house always wins…
One question we're often asked is "Do you guys use bots or pay people to bid up prices?"
The answer to that question is simple: No. We have recently added an official policy on our site to address these concerns from our users and have included it below for you.
We do our best to ensure that all users on Prizes4Games have an equal shot at winning. We have implemented CloudFlare technology to protect against denial of service (DoS) attacks and bid bots (which monitor the frequency and validity of bids) and are implementing further software systems to ensure the highest level of security. We are also manually reviewing all auction victories to ensure that users are bidding fairly.
Any and all users caught attempting to cheat, using bots, colluding or using any other method in order to unfairly bid will be banned immediately. No exceptions.
If you see anyone you feel is suspicious please report them to our support team immediately. Your support is essential in keeping our community the best it can be!
Thank you for your time, support and most importantly your trust.
Eligibility: Account Registration. As a condition of your use of the Site, you may be required to register an account with MediaSwapp and must provide true and accurate account information at all times (including, without limitation, ensuring that your account information remains current at all times.) Account Security: As part of the registration process, you may be instructed to choose a username and password. The selected username and password may only be used by you.
You are solely responsible for maintaining and protecting the confidentiality of your username and password, and are fully responsible for all activities that occur thereunder. We reserve the right to reclaim user names on behalf of businesses or individuals that hold legal claim or trademark on those usernames. Accounts using business names and/or logos to mislead others will be permanently suspended. Minimum Age. The Site is only intended solely for persons who are the age of majority where you live. Any access to or use of the Site by any minors is expressly prohibited. By accessing or using the Site, you represent and warrant that you are the age of majority where you live. If you are a minor, you must have your parentor legal guardian set up your account and your parent or legal guardian must agree to these terms. If you are under the age ofmajority, your parent or legal guardian’s consent to these terms is ongoing and they hereby warrant that they will review these terms for changes, and if any occur, that they will be amenable thereto until you reach the age of majority, at which point you hereby give your consent to these terms.
ALL SALES ARE FINAL AND ALL FEES ARE NON CANCELLABLE AND NON REFUNDABLE EXCEPT AS OTHERWISE DETERMINED BY MediaSwapp IN ITS SOLE AND EXCLUSIVE DISCRETION. By bidding on an auction, you make an offer to purchase the relevant skin that is the subject of that auction from MediaSwapp at the Current Price noted on the auction within 24 hours of the end of the auction. FAILURE TO COMPLETE PAYMENT FOR YOUR WIN WITHIN 24 HOURS OF THE AUCTION ENDING WILL RESULT IN THE FORFEITURE OF YOUR WIN. MediaSwapp WILL RECOUP THE RELEVANT SKIN AND YOU WILL PERMANENTLY AND IRREVOCABLY FORFEIT ALL RIGHTS TO PURCHASE SAID SKIN. Should you win the auction, you must submit an authorized payment method through our platform to consummate the purchase and all fees submitted are nonrefundable once complete. To the extent you subsequently attempt to dispute or otherwise challenge the validity of your purchase through the platform, you agree to indemnify us for the full amount of the purchase and any costs and fees we incur in collecting payment from you. Making or receiving payments on the Site may be delayed while MediaSwapp or our payment partner validates your compliance with these terms. In connection with your use of the Site, you agree not to initiate any claim and dispute procedure with third parties regarding payment and receipt of virtual items, including, without limitation, PayPal’s “Claims and Dispute” mechanism. The first instance of initiating such a claim and dispute procedure will result in a 24-hour suspension of your MediaSwapp account. Any other instance of initiation of a claim and dispute procedure will result in automatic termination of your individual account. You will exclusively submit any disagreement, dispute, complaint or query by means of the support system provided on the PRIZES4GAMES.COM website. Any and all other media or sources (including Reddit, email, Steam, Skype, group pages and the like) do not constitute a valid means to communicate with MediaSwapp for support concerning any claim or dispute. Any refunds for use of the Site shall be at MediaSwapp’s sole and exclusive discretion, and only provided in exceptional circumstances.
In order to bid on an auction you must first purchase Site’s virtual currency: Gems. Gems are used to bid on auctions. Gems are a limited license to participate in auctions on Site and have no monetary value. Gems cannot be redeemed for currency and are nonrefundable. The Gems cost of each bid may vary and MediaSwapp reserves the right to modify the cost of bids on each auction but the bid cost will be prominently displayed. Placing a bid will deduct the Gems bid cost from your Gems wallet, increase the current price of the auction by the bid increment and add a maximum of 30 seconds to the auction clock. By bidding on a skin or any other item on auction, you agree to purchase that item at the current price displayed should you be the final bidder on the auction. If you are not the final bidder at the end of the auction you will forfeit any and all Gems you have bid during the auction. If your Gems wallet balance is not sufficient to pay the final price of the item you must purchase more Gems in order to complete the transaction. NO REFUNDS OF Gems OR BIDS WILL BE ISSUED BY MediaSwapp AND YOU AGREE THAT YOU HAVE BEEN PROPERLY NOTIFIED OF THE BIDDING PROCESS. LIMITED LICENSE GRANT
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MediaSwapp expressly reserves the right, in our sole discretion, to terminate a user’s access to the Site or any portion thereof due to any act that would constitute a violation of these terms. In addition to violating these terms, the foregoing actions on your part, or on behalf of any entity you are employed or otherwise acting as an agent for, involving intentional, unauthorized access of a protected computer or user accounts, may constitute a violation of international, national, state and/or municipal law, and may potentially subject you and any affiliated parties to civil liability and criminal prosecution.
Multiple accounts created by the same user, for use as ways to accumulate more complimentary Gems via our Steam brand name offer or to outbid each other to raise prices are strictly prohibited, if discovered we reserve the right to withhold any & all winnings & to terminate these accounts without refund or warning.
We reserve the right to ban any user for undertaking in activities that we deem to be detrimental to our site, the experience of other players or the fairness of our auctions. We also reserve the right to ban you and terminate your account, including forfeiting any winnings you may have if we determine, in our sole discretion, that you have violated any of these terms or that you have engaged in any activity to undermine the proper functioning of our site including but not limited to creating duplicate or false accounts, abusing our promotional currency program for the sake of gaining free bids, copying the user name of other players, conducting denial of service (DoS)attacks against our site and any other activity that interferes with the proper operation of our site or auctions.
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What is Prizes4Games Auctions?
Prizes4Games Auctions is the easiest and most efficient way to bid and win your favourite CS:GO skins at extremely discounted prices.
What are Gems?
Gems are the currency we use here on Prizes4Games Auctions. This currency allows you to bid on auctions and win those awesome skins!
Where do I purchase Gems?
You can purchase Gems through the ‘Buy Now’ button on the live auctions page, or click here http://www.prizes4games.com/buy-gems.
How do I bid on an item?
Find an item you want or click the Live Auction tab (http://www.prizes4games.com/auctions) and simply click PLACE BID. Make sure you have enough Diamonds or Rubies!
Do I get my bids back if I lose an auction?
No, when you bid on an auction your bid is spent.
How can I view my auction history?
Click the menu next to your photo profile in the top right and click Profile or click here http://www.prizes4games.com/profile. This page will show you all your recent wins (bids and credit purchases will be soon available).
I won an auction! Now what?
If you win an auction you have to pay the final auction price on the Auction Winnings section of your Profile (http://www.prizes4games.com/profile), then wait for the trade offer (within a week). If you do not pay for your auction win within 24 hours you forfeit your win and we will keep your skin.
How do I purchase a skin I won?
On your Profile (http://www.prizes4games.com/profile), section Auction Winnings
How do I withdraw a skin I won?
Once you have won and purchased a skin you can pay the final auction amount and then wait we send you an email to inform you to check your trade offers.
How can I get sponsored by Prizes4Games Auctions?
We are working on a standardized sponsorship program but at this time we are not sponsoring teams or streamers.
Help! I have an issue with your site!
You can contact support : http://www.prizes4games.com/ contact
What payment methods do you offer?
We currently offer payment via Paypal. Paypal offers a variety of payment methods like major Credit/Debit cards, PayPal, PaySafe Card and many more. All while verifying the ID of the payer, this reduces fraud and keeps this site alive! We plan to add G2A payment as well.
I never received a trade offer from Prizes4Games Auctions!
Please contact Prizes4Games support with the following details:
Item Name, Item Value, link to the auction e.g. http://www.prizes4games.com/auction-details/skin-name/22
I bid for an item at 0:01s left and I didn’t win?
Our system has taken user ping (ms) into account, for example that the system will report there are "5 seconds left", by the time it gets to you and is rendered, it may only be 4.5 or even 4 seconds left. We are working on calculating a user's ping to provide more accurate readings.