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STANDARD AUCTION
Buyers compete by bidding upward
A seller chooses a starting bid, bid increment, closing time and optional reserve. Each valid bid must meet the next minimum. The highest valid bidder wins when the auction closes if the reserve is met.
Example
Kevin lists a television at $200. Three bidders compete and the highest qualifying bid at closing wins.
For sellers/requesters: Describe the item accurately, set a realistic starting bid and be ready to arrange collection with the winner.
For bidders/providers: Review the condition and minimum next bid. A winning bid commits you to arrange the transaction.
DUTCH AUCTION
The price falls until a buyer accepts it
The seller starts high and sets a floor, reduction amount and interval. The server calculates the current price. The first eligible buyer to accept the price secures the available item.
Example
A refrigerator starts at $1,000 and drops $50 each hour, never below the seller’s $700 floor.
For sellers/requesters: Set the lowest price you are willing to accept and a clear reduction schedule.
For bidders/providers: Buy at the current price or watch for a lower target price, knowing another buyer may act first.
REVERSE AUCTION — PRODUCT
A buyer requests a product and providers make offers
The requester describes what they need, their maximum budget, quantity, location and deadline. Providers compete with offers. The requester chooses the best overall offer; the lowest price does not automatically win.
Example
A business requests 10 office chairs with a $2,500 budget. Suppliers submit offers with prices and delivery details.
For sellers/requesters: As the requester, compare price, delivery, verification, ratings and the complete proposal before awarding.
For bidders/providers: As a provider, explain exactly what your offer includes, when you can deliver and any warranty.
REVERSE AUCTION — SERVICE
Service providers propose how they will complete a job
A customer posts work they need completed. Providers submit private proposals containing price, timing, materials, warranty and terms. Only the requester can review and award them.
Example
A customer requests painting for a two-bedroom apartment and compares proposals from verified providers.
For sellers/requesters: Describe the work, location, preferred date and whether materials should be included.
For bidders/providers: Submit a clear proposal with your price, timeline, included materials, terms and warranty.
FIXED PRICE / BUY NOW
A buyer accepts the listed price
The seller sets one price. An eligible buyer uses Buy Now to secure the item while it remains available.
Example
A seller lists a table for $250. The first eligible buyer to complete Buy Now secures it.
For sellers/requesters: Choose a clear price and describe collection or delivery arrangements.
For bidders/providers: Review the item details before accepting the price. Availability is not guaranteed until the server confirms it.