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Diecast Forums Forum 43 Diecast Zone

Posted By: John Kuvakas Zone Diplomat
Posted On: Wednesday January 22, 2020 at 1:09 PM
 
Message:
Here's what the FAQ page for the auctions tells us
"WHAT IS A RESERVE AUCTION?

Sellers may specify a minimum amount that the winning bid must equal or exceed. It's the lowest price at which a seller is willing to sell the item. Called the "reserve" price, the seller is reserving the right to sell the item only if the bidding reaches a specific price. The reserve price is always hidden. However, you'll always know if you're bidding on a Reserve auction, because we show whether the reserve has been met on the item listing page and again on the individual item page. When you see Reserve Met, this means the item will be sold to the winning bidder. Why wouldn't a Seller just set his opening bid at the minimum he would want to sell the item? Most Sellers do. But if the Seller is unsure of what the market value of his item is, he may wish to set his opening bid low to find out. The Reserve feature allows him to do so, but if it turns out to be too low, he reserves the right not to sell at this unexpectedly low value.

WHAT IS THE INSTANT WIN! FEATURE?

Sellers may specify a target price that if met will lead to an immediate sale. When a buyer bids that price, the auction is concluded. Unlike a reserve price, this price is not hidden, but public. So if the target price is $150, and you feel the item is still a bargain at $150, you may just want to bid that amount and win the auction. To use the Instant Win feature, you must be the first bidder and must enter the exact amount as your opening bid - do not enter an Auto Bid maximum. On a standard auction the INSTANT WIN! option disappears with the first bid. So you must act fast to take advantage of this option before someone bids at least the seller's minimum opening bid. On a Reserve auction, the INSTANT WIN! option is not removed until a Buyer meets the reserve."

To see all the auction guidelines and FAQ's Click here.

Go back to Diecast Forums Forum 43 Diecast Zone

Message thread:

Auctions ? by mick MacCorquodale #27158
It's a peculiarity of the system, Mick. by John Kuvakas #27158.1Zone Diplomat
Thank you by mick MacCorquodale #27158.1.1
The seller sets the instant win price. The system defaults to the minimum bid listing. by John Kuvakas #27158.1.1.1Zone Diplomat
Here's what the FAQ page for the auctions tells us by John Kuvakas #27158.1.1.1.1Zone Diplomat




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