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Different Types of Auctions

The previous section described a normal eBay auction. eBay offers some variations on this traditional auction format, however. These variations include the following:

  • Reserve price auction. In this type of auction, the seller sets a higher "reserve" price above the initial bid price. The item doesn't sell until the reserve price is met.
  • Buy It Now option. This is a traditional auction where the seller offers the option of purchasing the item at a fixed price before the end of the auction. (The Buy It Now price must be 10% higher than the initial bid price.)
  • Fixed-price listing. This is a non-auction listing in which the item is offered at a set price; the first buyer opting to pay this price buys the item.
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