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Selling Formats - Auction, Buy Now, Classified and Personal Offer
Posted by bidorbuy Admin, Last modified by bidorbuy Marketing on 09 October 2014 01:28 PM

There are four selling formats on bidorbuy: auctions, buy now, classifieds and personal offer.

Auction

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).

You can sell single or multiple quantities in a single listing. You may re-list your item free of charge in case it does not sell.

bidorbuy does not charge a fee for listing items on auctions. A success fee is charged only on successful sales. Currently, the success fee is between 1 and 5 percent of the amount at which the item is sold (the higher the value the lower the percentage).

Buy Now

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. 

Maximum listing duration is 21 days. You may re-list your item free of charge in case it does not sell (the higher the value the lower the percentage).

You do not pay for listing an item for sale in the Buy Now format. A success fee is charged only on successful sales. Currently, the success fee is between 1 and 5 percent of the price.

Classifieds

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. 

When you list an item in the Classifieds format, buyers can instantly respond to your contact details to get in touch with you. It is then up to you two to arrange an inspection and close the deal. 

The maximum duration of a Classifieds listing is 32 days.

bidorbuy charges a once off upfront fee for every listing in the Classified section called a listing fee. Currently, a listing in the property category is R100, while the listings in other categories - Cars, Boats and Services – are charged at R50 per listing. That fee is payable whether the item sells or not. For that fee, your item remains on the site for up to 32 days. Please note, your first listing each month in Property is FREE.

There is no success fee for items sold through the Classifieds format.

Personal Offer

Once an Auction has closed, a Seller can offer the same item to runner up bidders for the same price as that bidder's highest bid. The Buyer can accept or reject the personal offer and the Seller can also set an expiry date at which time the personal offer will close if the Buyer has not yet responded. Note that personal offers are only available to advanced sellers.

You do not pay for listing an item for sale as a personal offer however standard success fees are charged for successful sales. Currently, the success fee is between 1 and 5 percent of the sale price.

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