A Beginner’s Guide to the Different eBay Auction Types.
Over the years, eBay has introduced all sorts of different auction types, in an effort to give people more options when they buy and sell their things on eBay.
For every seller who doesn’t like the idea that their item might sell for a far lower price than they intend, there’s another who wants to sell hundreds of the same item quickly. eBay tries to cater to all tastes. This email gives you an overview of the different kinds of auctions and their advantages for you.
These are the bread-and-butter of eBay, the auctions everyone knows: buyers bid, others outbid them, they bid again, and the winner gets the item. Simple.
Reserve auctions are for sellers who don’t want their items to sell for less than a certain price – a concept you’ll know about if you’re familiar with real auctions. They work just like normal auctions on eBay, except that the buyer will be told if their bid does not meet the reserve price you set, and they’ll need to bid again if they want the item. If no-one is willing to meet your price, then the auction is cancelled, and you keep the item.
Fixed Price (Buy it Now) Auctions / Listings.
Buy it Now auctions (normally just called a listing) can work in one of two ways. You can add a Buy it Now button to a normal auction, meaning that buyers can choose either to bid normally or to simply pay the asking price and avoid the whole bidding process. Some sellers, though, now cut out the auction process altogether and simply list all their items at fixed price. This lets you avoid all the complications of the auction format and simply list your items for how much you want them to sell for.
Awhile back, eBay added a twist to fixed price auctions: the ‘best offer’. This means that buyers can contact you to negotiate a price, which could be a good way to get sell some extra stock at a small discount. In general, it is more worth using reserve auctions for higher-priced items and fixed price auctions for lower-priced ones – but remember that you can combine the two formats.
Now that you know about the different types of auctions / listings, you should make sure that the items you plan to sell don’t violate eBay’s listing policies. Sign up below for further info!
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