All this week, we'll be covering some of the basics of EBay, the world's most popular auction service. While many terms and features may be old hat to some of you, we feel it worth the time to explain some of EBay's most used features to new users or those needing a refresher. Today, the Buy It Now option.
EBay was built on the idea of auctioning products and services to the highest bidder. As time went on, however, many users wanted a way to buy and sell items at a fixed price. Enter Buy It now. On many auction listings, you will see an option to buy the item for a fixed price. For instance, if a toaster has an opening bid of $5, there may be an option to Buy It Now for $20. If you choose to do this, the auction is ended and you are declared the winner for that price.
It is important to note that the Buy It Now option generally goes away once a single bid is placed. This means a couple of scenarios are possible. If you are worried about someone else buying the item outright but don't wish to pay the Buy It Now price, you can place an opening bid. This will prevent someone else from stealing the item from you. Alternatively, if you want the item now, it may be worth it to use the Buy It Now option before someone else places a bid, thus locking you out and forcing you to bid on the item with everyone else.
Buy It Now will often cost you a bit more than winning a regular auction, as sellers know you are in desperate need of the item and don't want to wait for the end of the auction. So they can get away with charging a bit more. Also, some sellers will offer incentives for using the Buy It Now option, such as throwing in a bonus item or offering free shipping. These are usually explained in the item's description.
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J.J. Meddaugh is an experienced technology writer and computer enthusiast. He is a graduate of Western Michigan University with a major in telecommunications management and a minor in business. When not writing for Blind Bargains, he enjoys travel, playing the keyboard, and meeting new people.