What You Should Know About the Different Types of Auctions Available on EBay

EBay was largely known as an auction type of site

, however, there are many types of auctions which eBay puts at the disposal of its clients. It is good to know which they are, so that you should know exactly in which type of auction to include your product. First, there is the traditional auction type in which you list the product, set a starting price (which can be only a cent or more) and wait for bidders to make their offers. After the period set by you expired, the bidder who offered the most is declared the winner of the auction and will receive the item for which he made the bid. Secondly there is the reserve type auction, which is similar to the traditional type of auction, with the exception that the seller has the possibility to set a price below which he will not sell the object. For example, if you want to sell a computer for $300, you will not be forced to sell it for a smaller sum, not even if the highest bid was $299. This proved to be very useful, especially for those who were selling high priced objects and did not want to give them away for some derisory sums. Another type of auction which was design to protect eBay users was the private auction. This time the ones who are protected are the buyers, as in private auctions their identity and the sum of money they are willing to pay on a product is not made public to the other buyers. This is quite useful when the products buyers are bidding on are adult products or when the buyer intends to relist the products on eBay. The last type of auction available on eBay is the fixed price. This is wrongly called an auction, because the seller sets a fixed price and the buyer has to pay that price if he wants to purchase that item. This strategy has been quite successful because it offers the possibility to close the transaction right away and not wait until the bidding process is closed. Depending of the products you sell, you can choose one of the above mentioned types of auctions. However, be sure you also check the listing and selling fees for each and every one and ponder the situation well before making a decision.

What You Should Know About the Different Types of Auctions Available on EBay

By: R Vignesh Kumar

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