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Every odd day of the month at noon, SDRE will place a product at the auction without reserve zone (except the 31st day of every month and 29th Feb) and accept members to place their first-round bid. We will also announce the result of the last auction. Every even day of the month at noon, SDRE will close the auction for the first-round bid and second-round bid will commence for the 10 highest bidders of the first round.

Detailed bidding terms

First-round sealed bidding (Every odd day of the month):

• No-reserve auction, only bids in the nearest dollars are accepted
• Each member could only place one bid, you can revise your bid before the round has closed (the next day, which is every even day of the month at noon)
• The next day at noon, when the first-round bid has closed, we will announce the 10 highest bidders with their ranks and bids
• The 10 highest bidders will automatically enter the second-round sealed bid
• If happens that several bidders have made the same bid and lead to the same rank within the 10 highest bidders, there is a chance that more than 10 bidders will enter the second-round sealed bid
• Example situation 1: Under this circumstances, even the bids of member K & L are within the highest 10 bids, since there are members placed the same bids which are higher than them (member A & B; member G & H), therefore, member K & L still cannot enter the second-round sealed bid. There is a total of 10 members entering the second-round sealed bid.
  
  

  Member	Rank	Bid	Right to enter the second-round sealed bid
  A	1	$3,000	Success
  B	1	$3,000	Success
  C	2	$2,800	Success
  D	3	$2,750	Success
  E	4	$2,623	Success
  F	5	$2,500	Success
  G	6	$2,450	Success
  H	6	$2,450	Success
  I	7	$2,200	Success
  J	8	$2,000	Success
  K	9	$1,800	Fail
  L	10	$1,799	Fail

• Example situation 2: Under this circumstances, even the bids of member K & L are within the highest 10 bids, since there are members placed the same bids which are higher than them (member G, H & I; member J & K), therefore, member L & M still cannot enter the second-round sealed bid. There is a total of 11 members entering the second-round sealed bid.
  
  

  Member	Rank	Bid	Right to enter the second-round sealed bid
  A	1	$3,000	Success
  B	1	$2,900	Success
  C	2	$2,800	Success
  D	3	$2,750	Success
  E	4	$2,623	Success
  F	5	$2,500	Success
  G	6	$2,450	Success
  H	6	$2,450	Success
  I	7	$2,450	Success
  J	8	$2,000	Success
  K	9	$2,000	Success
  L	10	$1,800	Fail
  M	10	$1,799	Fail

Second-round sealed bidding (Every even day of the month):

• Our system will use the last bids of the 10 highest bidders of the first round as their second-round bid by default.
• Members can revise your bid before the round closed (the next day, which is every odd day of the month at noon), the revised bid must be greater than the highest bid of the previous round.
• The next day, which is every odd day of the month at noon, when the second-round bid has ended, we will announce the successful bidder immediately.
• If there are more than one highest bidders, we will determine the successful bidder by below criteria:

  To whom who has the highest rank at the first round wins;

  If the ranks of the first round are the same, then to whom has the highest membership tier wins;

  If the membership tiers are the same, then to whom has the highest consumption amount at the current SDRE season period wins;

  If the consumption amounts at the current SDRE season period are the same, then to whom who registered to be SDRE’s member first wins.

• When the bidding has closed, the successful bidder must complete the transaction at the auction zone within 48 hours, we accept payment in S Bonus. While the transaction is completed, successful bidders will be rewarded with 75% of the auction purchase price as personal spending power and 1% of the auction purchase price as purchase rewards. Also, their sharing members can be rewarded with the equal split of the total of 1% of the auction purchase price as connected rewards. The auction purchase price will also be treated as a kind of purchases, successful bidders will be rewarded with SDREcoin and S Point by its normal calculation methods.
• If the successful bidder could not complete the transaction within 48 hours, we considered those as non-paying bids. Non-paying bid first-timer could not enter nor place any bids at the auction zone for three days. Non-paying bid second-timer could not enter nor place any bids at the auction zone for ten days. Non-paying bid third-timer could not enter nor place any bids at the auction zone for thirty days. For multiple non-paying bidders, we might prohibit them to place any bids at the auction zone permanently.
• If happens that there are non-paying bids, our customer service representatives might contact members who have entered the final round, depending on their previous purchasing records, and providing a special offer in order to thank their continuous support: specific member could purchase the auction item directly at the cost of his/her final round bid. If the mentioned member has confirmed accepting the special offer, he/she must complete the transaction within 12 hours, otherwise, we considered that as non-paying bid. Non-paying bid first-timer could not enter nor place any bids at the auction zone for three days. Non-paying bid second-timer could not enter nor place any bids at the auction zone for ten days. Non-paying bid third-timer could not enter nor place any bids at the auction zone for thirty days. For multiple non-paying bidders, we might prohibit them to place any bids at the auction zone permanently.