Difference between an Auction and Buy It Now listings

• Auctions are items that the seller has chosen to list in an auction format, where it is bid on. Here is what characterizes an auction:
  • The seller sets a starting price for one or more items they would like to sell
  • Buyers bid on that item for the duration of the auction time
  • When the auction ends, the highest bidder is the winner of the auction
• Buy It Now items are items that the seller wants to charge a specific price for and are available immediately. Some of the other reasons or characteristics for Buy It Now listings are:
  • The seller has more than one of the same item
  • The seller is selling real estate or a motorized vehicle and does not want an auction environment
• Keep in mind that sellers can offer both auction and "Buy It Now" choices for the same item. In this case the seller sets up an auction (sometimes with a minimum bid amount-which we will talk about in a moment) as well as a "Buy It Now" price. In this case whichever occurs first will determine how the listing ends. So let's use a Strawberry Shortcake doll as an example; the seller has it listed as both an auction and "Buy It Now", and the "Buy It Now" price is listed as $9.99. If someone is willing to pay $9.99 for the item and doesn't want to wait for the auction to end, they can choose "Buy It Now" and the auction immediately ends and they win the item. You would normally use the "Buy It Now" option if you really want the item, you want it now and you are willing to pay the price listed. Many times you will find that the current "Buy It Now" price listed is only a small amount higher than the price the auction is currently at, and in this case it would make sense to choose "Buy It Now" to ensure that you get the item.