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Want-it-Now
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Bidding for an item on eBay is, in principle, much the same as
bidding at an auction room. So if you’ve ever watched “Cash in the Attic” on
TV, you’ll already know the basics.
But eBay offers a number of additional features that help you get
more information about the seller’s terms, the item, and the seller’s
reputation.
Each Item Page lists this information and there are links to other
areas with supplementary data too. There are three main sections:-
- General Listing
Information shows the number of items for sale, starting price, the current
bid price and highest bidder ID, the item’s location, the sellers feedback rating and the time left before
bidding closes.
- A
description of the item, usually accompanied by one or more pictures of
the item; together with details about post and packing, policy on
returns, payment methods and the seller’s other terms and conditions.
- At the
bottom of the page is the section where you can enter your own bid along
with information about the current bid and any questions and answers
that might have been posted about the item.
One good and simple tip on winning more auctions at lower prices
is to search for listings that finish between midnight and 6AM as these are less likely to attract competitive buyers.
There are four types of auction transaction on eBay:-
- Most of
the items for sale on eBay are of the standard auction type where the
highest bidder wins.
- Sellers
can place a hidden reserve price on an item listing and if the reserve
price is not met, the highest bidder does not win the auction and the
seller will probably re-list the item.
- Dutch
auctions are for the sale of multiple items. Buyers place bids for
multiple items at the highest price they are willing to pay. If the
total quantity being bid for exceeds supply, then only the highest price
bidder is guaranteed to get the items. If total demand does not exceed
supply, then lower price bidders will also receive all or a proportion
if their items.
- Buy it Now
Auctions are where the seller is willing to sell the item for the price
specified, so you can place a bid equal to the Buy it Now price by
clicking on the BIN icon and win the item immediately without having to
wait for the auction to end.
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