Auctions are the bread and butter of eBay. You can run a traditional auction for one, three, five, seven, or ten days, and when the auction closes, the highest bidder wins. I’m sure you’ve bid on several and I hope you’ve won a few. If you’ve tried selling, I suspect you’ve made some money running some of your own.
You begin the auction with an opening bid, and bidders bid up your opening price, competing with one another and building a healthy profit for you on your item.’
If you’d like, you can set a Buy It Now option on your auction for an additional fee. By setting fixed selling prices at the get go, buyers have the option of buying your item outright. This is attractive for many users of the eBay system. The Buy It Now price you post should be the price at which you’d be happy to sell the item.
Even with a Buy It Now option, people can still bid on your item. After a bid is placed, the Buy It Now Option disappears and the item proceeds in a regular auction for the duration you indicated when you placed the listing.
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