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What if I don't know how much to bid?

Per Elance's Terms of Service, placeholder bids are not allowed.  Service providers must provide a realistic estimate of the project cost. This estimate can be adjusted by placing a new bid based on additional information you receive from the buyer via the Private Message Board (PMB).

Some buyers post projects with the 'ask the buyer a question' feature.  If you are unsure about how much to bid, you can ask the buyer to clarify the project requirements before you enter a bid amount.

If you are still unable to provide a realistic estimate of the project cost based on information from buyer, do not place a bid.