Selling Format

Selling Format

• The next section is how you want to sell your item, either online auction or fixed price as well as the quantity, duration, starting and reserve price.
• Here you will choose whether to sell via traditional auction-style, reserve or Buy It Now (the differences in these were discussed earlier and keep in mind there may be restrictions as to whether or not you can use reserve or Buy It Now when you are a new seller).
• You will need to choose the starting price. You will see that many people start their auctions at 99¢ (this is the lowest amount allowed) . This is because low starting bids helps create excitement and encourages bidding. Alot of people will think, hey bidding is only at 99¢ to start with and usually their maximum bid is alot more. Keep in mind though that you have to stick with whatever the final bid is, so if your starting bid is only 99¢ and someone wins the bid at this price, you will have to honor that. So if you are selling a higher priced item, set a price you are comfortable with, but also remember, the higher the starting bid, the more people may decide to pass on bidding. In the bidding world, once someone has bid on an item, more people are likely to bid on it, thus the suggestion for the lower starting bid as the more people you get to bid on it, the more likely the bidding amount will go up.
• A reserve price is the minimum you are willing to accept for your item. A reserve protects you, but it may also discourage bidders hoping for a bargain. You may also want to offer a Buy It Now price for a quicker sale. If you have a feedback score of at least 10 you can choose the Fixed Price format, in which the price you set is the selling price. One of these may be a better option if you are selling a higher value item that you wouldn't want to let go for 99¢!
• The last choice is the duration of your listing. The longer your listing, the more time people will have to see it and bid, thus generating a bidding frenzy once people start bidding on it. Longer durations are usually recommended.
• There is also a choice here where you can donate a portion of the winning bid to a charity.