You can set selling formats individually for each item in your auction. Choose from two different selling formats when you create a new auction item:
Auction style items ⚖️
The classic choice, and the default option. Set a starting price, bidders up the ante with each increasing bid, and the highest bidder wins.
Starting Price
Choose where you want the bidding to begin. A best practice is to start at approximately 50% less than the item's value.
Buy Now Price
Offering a Buy Now price for an item allows a bidder to have the option to purchase an item they really want to take home, instead of dealing with a bidding war and the possibility of losing out on the item.
The Buy Now price can be used at any time before the price is exceeded by bids. After that, only the highest bid will win the item.
Bidders can set their name as anonymous during the checkout process, in case they don't want their name to be displayed.Reserve Price
A reserve price is the lowest price you’re willing to sell an item for. This is not shown to bidders, and is not publicly viewable. By using a reserve price, you can set a low starting price for your auction (and boost interest in your item) without the risk of selling your item for less than you think it’s worth.
Item Value
Helpful to include if you have a very high-value or unique item. This is displayed on the Item page as "Retail Value". According to the IRS, donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value, as long as they can prove they knew the fair market value before they bid.
Bid Increment
Setting bid increments prevents bidders from outbidding each other by small amounts, such as a bid going from $40.00 to $40.01. Choose a bid increment that makes sense with the value of the item.
Fixed price items 💵
There is no bidding on fixed-price listings, and you can set a total quantity available for purchase. This format is perfect for items you expect to sell to multiple bidders/buyers (yard signs or tote bags, for example.)
Buy Now Price
With a fixed-price Buy Now listing, a buyer knows the exact price they need to pay for your item and can complete their purchase immediately.
Bidders can set their name as anonymous during the checkout process, in case they don't want their name to be displayed.
Item Value
Same as the Auction Style Item Value, but also helps to motivate purchases if your Buy Now Price is a bargain compared to the Item Value. This is displayed on the Item page as "Retail Value".
Total Quantity
This is your total stock available for sale. As bidders purchase this item, this quantity will decrease until eventually your item is sold out. Total and remaining quantities are not shown on the auction page. When all quantities are sold, the item will no longer be available for purchase.
Looking for popcorn bidding? 🍿 Popcorn bidding (or dynamic bidding), is a way of giving outbid bidders opportunities to rebid on a slightly extended timeframe with each bid. This is not currently an option, however please take a look at the feature request to add popcorn bidding, and add a vote if this is something you'd like to see in the future!