Auctions are a brand new feature to Buy N Sell Vanuatu. Auctions allow customers to bid on your item so you can get the highest price if there is more than one person who wants to buy it.
The best part is THEY ARE FREE.
To post an auction follow the same process as you would to post a classified ad.
2. Choose ‘Auction’
3. Same as posting a classified ad, Fill out the information fields for your Auction, Title, phone number etc.
The new fields added for Auctions are: Start Price, Reserve Price, Bid Increments, Ad listing period.
Start Price – This is the starting price for your Auction. For example if you hope to achieve 6,000 vatu for your item your start price may be 4,000 vatu or it could be 500 vatu. It is up to you.
Reserve Price – This is the price that the bidding must reach before your item can be sold. For example, if you will not take less than 6,000 vatu for your item, set the reserve price as 6,000 vatu. customers can place bids eg 1,000, 1,500, 4000 etc, but the bidding must reach 6,000 vatu or higher for your item to sell. If your reserve price is not reached, you can simply relist your auction possibly with a lower reserve price. During the Auction you may also establish contact with the bidders who still may be interested to buy the item if you agree on their bid. You would contact them via the contact box at the side of your auction ad.
Bid Increments – Complete this field if you would like a specific amount that the auction must increase by each time a customer bids. For example, if your starting price is 10,000 vatu & you want to achieve a price of 50,000 vatu, you can set the bid increments to 5,000 vatu or 10,000 vatu so that your reserve price is achieved quickly.
Ad Listing Period – This is the amount of days that your Auction will run for. Choose from 1,3,5,7 or 10 days before it expires. There is a timer on the screen for each auction so the customer knows when the Auction will finish. Generally customers may be watching an Auction right up until the last minute before placing their last bid.
When The Timer Runs Out ! – If a bidder wins your item, Buy N Sell will notify you by email so that you can arrange with the buyer for your item to be collected.
Happy bidding !
The Buy N Sell Vanuatu Team