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Question RE: bidding in a foreign currency

 
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bidwisely
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PostPosted: Fri Jul 22, 2016 9:57 pm    Post subject: Question RE: bidding in a foreign currency Reply with quote

I am wondering how to place my bid on gixen if the auction asks for Canadian money. Do I just put a regular bid of $5.00 USD for example, if the auction is in "C" dollars (canadian dollars) and then just let ebay adjust it?

To simplify my question, How do I use gixen to bid in Canadian dollars?

Thanks in advance for any help.
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Cupid



Joined: 09 Aug 2007
Posts: 8004
Location: Bristol, UK

PostPosted: Sat Jul 23, 2016 3:36 am    Post subject: Reply with quote

As with Ebay you have to bid in the currency of the auction.

Gixen does not do any conversion of currencies.

If you win an auction in a different currency than your own, use Paypal to pay for it, but bear in mind when working out your bid that Paypal charge buyers 3.5% above base rate to perform the conversion for you.
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bidwisely
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PostPosted: Sat Jul 23, 2016 10:57 am    Post subject: Reply with quote

Thank you for your reply, Cupid. But I am confused. Are you saying that Gixen only bids in USD? Or are you saying that if I put "C $5.00" in my gixen bid that gixen will bid in canadian dollars?
thanks for your help
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Cupid



Joined: 09 Aug 2007
Posts: 8004
Location: Bristol, UK

PostPosted: Sat Jul 23, 2016 11:51 am    Post subject: Reply with quote

I am saying that Gixen will only bid in the currency of the auction.

If the auction is listed as being in Canadian dollars then it is Canadian dollars you are bidding in.

This is the same as if you bid direct on Ebay.

You can only put numbers into Gixen, you can't specify what currency those numbers are in. So, for instance, entering 'C $5.00' is not valid, but '5.00' is OK.

If you enter 5, when adding a snipe to Gixen, and the auction is in USD you are bidding 5 USD, if you enter 5 and the auction is in Canadian dollars you are bidding 5 CAD.

If it confuses you as to how much that will actually cost you use a conversion site such as xe.com, but, as I said, make sure you take account of the fact that Paypal charges you 3.5% extra for the conversion.
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PostPosted: Sat Jul 23, 2016 11:51 am    Post subject:

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PostPosted: Sat Jul 23, 2016 8:44 pm    Post subject: Reply with quote

Thank you, Cupid. That explanation was crystal clear. Now I get it! 3.5% is a tad high, I would say. I don't even get that on my best CD interest rates these days!
Thanks again.
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