Glossary of Terms:

Auction - A Traditional Auction listing allows you to sell items to the highest bidder. You specify the start price, and people bid against each other in specified bid increments. Traditional Auctions allow the Seller to set both a Reserve and Buy Now price. When listing a Traditional Auction, the quantity of goods is equal to one.  

Example:

• One pair of jeans has a quantity of 1.
• A lot of 5 different men’s shirts have a quantity of 1 because they are all sold together as one item.

Dutch Auction – A Dutch Auction is another name for a multiple item auction. These listings are for selling more than one identical item individually in an auction format. Rather than creating a listing for each item, you can sell them all, one at a time, with one listing. Buyers can submit a bid for one, or multiple items in a Dutch Auction listing. When there are multiple buyers for a Dutch Auction, the item’s final cost is the lowest successful bid by the highest bidders.

 
Fixed Price - A Fixed Price listing does not allow bidding. The seller specifies the only acceptable price for the item(s). You can sell one item or multiple identical items with one Fixed price listing. Because there is no bidding on fixed priced listings, all items are Buy Now.

Classified Ad - Unlike traditional text only classified ads, our Classified Ads allow image uploads and dynamic communication between the Seller and all potential Buyers. When listing a Classified Ad, you enter your asking price, the shipping cost, and any information about the item or service you are selling. When an arrangement has been reached between the buyer and the seller, the seller can manually end the Classified Ad.

Trade - A Trade listing allows you to exchange goods or services with another user. You can choose to accept or decline any posted offer. When listing an item for Trade, you only have to enter the shipping cost. Since the goods are not for sale, you will not be asked to enter a price.

Buy Now - When listing an item, you may have the option of setting a Buy Now price. The Buy Now feature allows instant purchasing.  
 

•  Traditional Auction
•  All Fixed Price listings - The Fixed Price is automatically the Buy Now price.  

Reserve - The Reserve price is the absolute minimum dollar amount the Seller will accept for an item. Buyers are notified after placing their bid if it is below the Reserve price.If a Buyer's maximum bid is greater than the Reserve price, the Reserve is automatically met and that user is the high bidder. The ability to set a Reserve price is only available to Traditional Auctions.

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