Before you get started listing items for sale on an auction site, you need to be aware of the most common auction types so you can make an informed decision of which one is best for you. Following is a brief list:
Buy It Now A “Buy Now” Listing indicates the item is for sale for a fixed price. The Seller lists the price he is willing to accept at the time the listing is posted. If a Buyer is willing to pay the listed price, he submits a Buy Now request. Normally a Final Value Fee is applied to the selling price.
Dutch Auction: An auction where the Seller has more items of the same product for sale. The Bidder will enter a maximum bid he is willing to pay for an item, and the number of items he wants to purchase. The highest bidder(s) will receive the number of items they have bid on, and the remaining bidders will receive the number of items still available. Buyers are able to bid more than once for the same item.
Standard Auction: An auction where a Seller list an item for auction and at the end of the auction the highest bidder wins, unless a Reserve Price was set at the beginning of the auction and the reserve was not met or if selling the item to the highest bidder would violate some law.
Reserve Price: The least price the seller is willing to accept for the item. This price is set at the time of listing and cannot be changed once the bidding has begun. The reserve price is hidden until the bidding has reached the acceptable amount.
Buying and selling through auctions can be fun if you know what you do a little research before you begin. Insider Auctions makes this process easy for you from the listing process through bidding and selling. There are Frequently Asked Questions to address the most common questions and you can always click the Help button.
There are lots of topics to be covered, so let me know what you would like to talk about next. Have a good night.
