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Introduction To eBay Auction Types.
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In the hope of providing more options to the people who want to buy and sell their things on eBay, there have been many different auction types introduced.
eBay tries to cater to all every seller. Most do not like the idea that their product may sell for a lower price than they requested, but there are some who want to sell in bulk and do not mind to get rid of hundreds of the same item quickly at a lower price than the asking rate. This article gives you an introduction to the different kinds of auctions and the advantages of each type.
Normal Auctions.
These are the most common and basic auctions where buyer bids, other buyers outbid him or her, the original buyer bids again, and the winner gets the item. Simple process that forms the basis of eBay.
Reserve Auctions.
Reserve auctions are similar to real auctions in the sense that the sellers do not want their items to sell for less than a certain price. Reserve auctions work in a similar manner to the normal auctions on eBay, except that the buyer will be informed if their original bid does not meet the reserve price that has been set. The buyer will then have to bid again if they want the item. If no buyer is willing to the seller’s set price, the auction is cancelled, and the seller retains the item.
Fixed Price Auctions - *Buy it Now*.
Buy it Now auctions has two main processes. Buyers have the option to add a Buy it Now button to a normal auction and have the option of bidding normally or simply pay the asking price and avoid the whole bidding process. Some sellers cut out the auction process altogether and list all their items at fixed price, which makes it less labour intensive. By listing items at a fixed price, sellers manage to avoid all the complications of the auction process.
As a new addition to the auction process, eBay added a twist to fixed price auctions. The newly added 'best offer' means that buyers can contact the seller to negotiate a price which increases contact. This has been introduced as it is a good way to sell extra stock at a small discount. A small extra fee is charged to use the reserve and fixed price auction formats. It is worth using reserve auctions for more expensive items and fixed price auctions are popular among lower-priced items, but the two auction formats can be combined.
Multiple Item Auctions - *Dutch*.
Here sellers can sell more than one of a certain item and they are sold by bidding. Buyers bid a price and stipulate the number of items and this results in everybody paying the lowest price that was bid by one of the winning bidders. These auctions are rare as they tend to cause confusion among bidders.
A more common example is when a seller has a bulk numbers of a specific item, and lists it using a combination of two auction types: a multiple-item fixed price auction. You can stipulate the amount of the item and offer it at a fixed price per unit. Buyers can order the number requested and then click Buy it Now.
Study the different types of auctions, choose the best one for your needs and then check that items you sell do not violate eBay's listing policies. The next video will let you know these listing policies and the rules and regulations.
This page is about A Introduction To eBay Auction Types.
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