Buy Now pricing refers to an online auction feature which allows the seller to set a price for an item. A bidder may purchase the item at any time during the auction at this set price. So it is not a bid – it is a commitment to purchase at a specific price. If the Buy Now price is not met by a bidder, bidding will still occur on an item with Buy Now pricing.
With DoJiggy’s Auction Software
- When you add an auction item, you can optionally enter Buy Now pricing on that item.
- The Buy Now price will appear only under the conditions listed here, and will allow your participants to pay the price you are asking and purchase the item.
- The Buy Now option allows your constituents to purchase an item at any time during your auction, rather than bidding and waiting until the auction close date.
- Once an item has reached its Buy Now price, it will be sold immediately and will no longer be available for bidding.
Benefits of using Buy Now pricing
- Bidders do not need to wait until the end of the auction close to see if they have won an item.
- Buy now pricing can work well for large ticket items to insure that you retrieve their value.
- Buy Now pricing provides variety and fun for your participants in offering two ways of bidding online.
- This feature is a great option if you have more than one of the same item. Once sold, you can post a duplicate item during the same auction.
- If an item is sold with Buy Now pricing, your organization will receive the funds right away, without waiting for the auction close date.
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