Selling Formats - Auction, Buy Now, Classified and Personal Offer
Posted by bidorbuy Admin, Last modified by on 19 July 2011 02:50 PM
There are four main selling formats on bidorbuy: auctions, buy now, classifieds and personal offer. Sellers can also state a buy-now price on auctions and opt to accept offers from buyers.
When you list an item for auction, buyers are able to bid on your item for the duration you choose (up to a maximum of 21 days). You choose a starting price for your item and multiple buyers can bid for it (although it is not recommended for most cases, a reserve price can also optionally be set).
When creating an auction listing, sellers can state a buy now price too. That means that buyers can choose to either place a bid, or to buy the item outright. The buy now option disappears when the auction amount reaches the buy now amount. Only auction listings with the quantity of 1 item have a buy now price option. Standard success fees apply.
With buy nows, you sell an item at a fixed price. The buyer can buy it immediately. There is no waiting period as associated with auctions. The buyer can purchase the item without waiting for the listing to end.
You do not pay for listing an item for sale in the buy now format. Standard success fees apply.
The bidorbuy Classifieds section is similar to classifieds in newspapers. The seller advertises his/her product and waits for a response from prospective buyers. The classified format is advisable for items that need high involvement from the buyers and sellers, such as cars.
bidorbuy charges a once-off upfront listing fee for every listing in the classified section. The listing fee is payable whether the item sells or not. There is no success fee for items sold through the classifieds format.
Once an auction has closed, a seller can offer the same item to runner up bidders. The seller sets the price. The offer is on first come - first served basis and it expires after 48 hours. Buyers may put forward a counter-offer. This functionality (formerly known as personal offers) is available only to advanced sellers.
Standard success fees apply.