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Different Auction Types

Standard Auction
The normal type of auction starts on the date the Seller enters it and ends in after a period of minimal one week and maximal five weeks. The Seller may choose the length of this period and a starting price. The Buyer with the highest bid at the end of the auction period wins the item.

BuyNow Auction buynow
In this type of auction the Seller sets a price that allows the Buyer to purchase the item immediately. This means when the price is met, the auction is closed and the remaining auction time cancelled. The BuyNow price is a fixed value, if any Bid goes higher than this value, the item is still sold at the BuyNow price. While the bids are lower than the BuyNow price the auction continues as normal, meaning that if the auction time finishes and the highest bid is less than the BuyNow price, the auction is won by the last Bidder at the price he set his bid to.

Reserve Auctions
The Seller may set a price as a minimum value, he'd like to sell his item for. This price shall be hidden from the other users. Upon placing bids Buyers can only see if their Bid is higher or lower than the set reserve price. If the last bid upon auction end is lower than the reserve price, the Seller may refuse to sell his item.

Start upon Bid Auctions
The Seller may make a setting, that keeps the auction duration frozen until the first bid is placed. This way none of the auction duration is wasted while nobody is interested in the item. It also prevents Buyers from waiting up to the last moment before placing a bid.

Hidden End Time Auctions
A Seller may, to some extent, hide the remaining time on his auctions. This can be helpful to trigger more bids while the auction is running i. e. prevent Buyers from witholding their bids up to the last moment. Towards the end of the auction the duration will become visible, the Seller may choose when this happens.

Auction Combinations
Sellers may combine the above options on their auctions to create some interesting possibilities

Setting the a reserve to the same amount as a BuyNow price creates an auction that is no different than a normal sale. Having the starting price at the same value as the reserve & BuyNow allows the item to only be sold at that one price. Having the starting price lower allows the Buyers to use their Bids as suggestions for a lower price, leaving the Seller the option to say no. Using a "start upon bid" option would let this sales item remain on the site until sold (or at least a suggestion for a lower price is made)

If you combine a "start upon bid" together with a "Hidden End" option, the auction duration will still be shown as long as no bid is placed. Only when the first bid is posted, the duration of the auction will be hidden. This gives the first bidder the chance to see a sort of delivery time for the auction item.

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