How does 'buy it now' work on ebay from a sellers point?

Question

If i sell something and put a buy it now price of say £100 - and then it asks you to put a starting price ( from what I have seen is lower than £100) if the bids only go up to say £80 does that mean the item hasnt sold - or do you get £80 for it. if so what is the point of 'buy it now' so the seller!

Answer 1

Buy it Now ends the auction at that price .. if no-one selects 'Buy it now', AND you have set no 'Reserve price', THEN you get whatever final price was bid.

If bidding has not started (i.e. no one is willing to bid over the Start price) OR if the 'Reserve price' is not reached, then it's not sold.

The advantage of a Buy it Now to the Seller, is that the Auction is ended early and you get the money early.

The advantage of a Reserve price is you can tempt bidders in at a low (or zero) Start price and eBay will keep asking them to increase their max. bid until it meets / exceeds the Reserve ..