eBay is an online marketplace built to enable trade on a local, national and international basis. eBay offers an online platform where millions of items are traded each day through Online Auction Formats, also called auction-style listings, or through immediate “Buy It Now” Fixed Price and eBay Store listings.
Buy It Now
On the eBay auction Web site, Buy It Now, abbreviated as BIN, is an option that sellers can include on their Online Auction, Fixed Price and eBay Store inventory listings. This features enables buyers to purchase the item immediately at a fixed price, as opposed to using the bidding process.
On the eBay auction Web site, feedback is the system buyers and sellers use to rate their experience with other eBay members. Once a transaction has been completed both the buyer and seller can choose to leave a rating for the other party with whom they conducted business. This rating consists of selecting an overall preset experience rating of positive, neutral or negative. The e-mail member can also leave a sentence comment about the member or transaction. A user’s feedback can be publicly viewed by other members. When you view a member’s name on eBay a number will appear in parenthesis beside the username. By clicking the number you are able to see this user’s feedback.
eBay Fixed Price
On the eBay auction Web site, Fixed Price is a type of online auction selling format a seller would use if he or she wants to sell items at a set price on the auction Web site. There are no bids placed on a Fixed Price style listing, as the price remains constant. Buyers will frequently use the Buy It Now feature when purchasing Fixed Price items. Sellers are required to meet a set feedback score to use the Fixed Price selling format.