The Different Auction Types Available on AdsBay?

There are 4 different auction types available on AdsBay, all of which can be used in different circumstances and all have their own advantages and disadvantages.

1. Auction Item

This is a standard auction format, you must enter a start price and the amount of time you want the auction to run for. You can also setup other optional features like a reserve price, a Buy It Now price and various other features. Bidders then bid for your item and the highest bidder wins. This auction format is good if you need to sell advertising space at a reduced cost, because say the printing date is near and if the space is not sold it will be worthless, and you still want to get the best price for this advertising space.

2. Dutch Item

This is basically a Buy It Now item, but you can sell more than one item at the same time through the same listing, although the price for your item is set so there is no bidding involved. This auction format is good if you have many items you want to sell at a set price.

3. Reverse Auction

This auction format is the opposite of Auction Item, you still set a start price and the duration of the auction, but the winning bidder is the person who bids the least amount. This auction format is best used if you are trying to buy a marketing service or if you have set criteria for advertising space you want to purchase, where you place the details in an auction and get publishers to bid for your business thereby getting you the best price for your advertising space.

4. Price Drop Auction

This auction format is works exactly like the Auction Item format, although a higher start price is set, a lower end price is set and the time that the auction item must stay at the lower price is set. Once the auction begins the start price will begin to drop and it will drop until it reaches the end price, where it will stay for the time specified. Using newspaper advertising as a good example again; as the printing date gets closer there is more urgency to sell the advertising space, which is more likely at a lower cost. So with this auction format the price will drop as the printing date draws closer and so it is more likely that someone will bid. Once the first person has bid other people can still bid for the item and drive the price up until the auction ends. The highest bidder wins.

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