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Standard (Proxy) |
Standard Auctions use Proxy Bidding, which keeps your maximum bid secret and places bids (as necessary) for you at the lowest amount possible to keep you the high bidder up to your maximum bid. The winner of a Standard Auction is the person with the highest bid at the end of the auction. Standard auctions can have a Reserve and/or a Buy Now price option. |
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Buy Now option |
Buy Now is a Feature that allows the seller to state a price that any buyer can purchase the auctioned item for immediately without waiting for the auction to close. The Buy Now option can be used with Standard or Multiple Item Auctions. |
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Reserve Price |
A Reserve Price is the lowest price at which a seller is willing to sell an item, even though the Opening Bid price may be much lower. If the bidding does not meet or exceed this price, there is no sale. The Reserve Price is never disclosed to bidders. The Reserve Price option can only be used with Standard Auctions. |
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Fixed Price |
A Fixed Price Auction is really not an auction at all, but rather an item for sale. The fixed price auction differs in that the first bidder to place a bid will win the item and the auction closes immediately. This is the same format as a Children's Book Mart listing, but uses the Children's Book Auction fee schedule. |
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Dollar |
A Dollar Auction is just like a Standard Auction with a few limitations. The Dollar Auction is meant to encourage bidding activity by interested bidders, since it is forced to a low starting bid ($1), and does not allow a Reserve price. |
