There are several types of selling items in lelong. Details of auction types are as follow:-
1. Standard Auction
Most common type of auction where seller bids for an auctioned item for a limited period of time.
Bidder will place bid on the item. When the period of auction ended, the highest bidder won the auction.
2. Reserve Auction
The reserve price is the lowest price a seller is willing to sell an item for. This amount is generally higher than the minimum bid. In order to win the auction, a bidder must meet or exceed the reserve price set by the seller and have the highest bid. If no bidders meet the reserve price, neither the seller nor the highest bidder are under any obligation to complete the transaction.
3.Quick Grab Auction
Quick Grab allows bidder to buy an item immediately with the quick grab price stated by seller and end the auction immediately. It allows seller to sell faster and end auction earlier.
4.Close Anytime Auction
When you post a standard auction, there is an option which allows the item to be closed before time. Once enabled, the seller can close the auction anytime deemed fit and the item must be sold to the highest bidder.
5.Quick Auction
Quick Auction is another new services provided for speed seller or member who want to sell off their item fast within 1-24 hours.
6.Dutch Auction
This type of auction caters for those who have many identical items to sell. Sellers will list the items by starting bid price and the total quantity of items for auction. Bidders place a bid and stated the quantity they want.
7. BuyNow (For Sale)
For seller who don't want to auction their item, Lelong provides the option for them to sell at fixed price. You can easily post up an item for sale, buyer will contact you for further details and negotiation before final price is agreed.
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