Classic Auction Seller has the choice to list their auction with or without entering a minimum bid amount or an equal or higher reserve price . The item is sold to the high bidder meeting or exceeding the sellers established item sale price at end of auction duration. Bidder will place a proxy bid .
Acceptable bids meet or exceed the sellers minimum bid amount.
Winning bid meets or exceeds the Sellers reserve price . Absolute Auction Seller lists their auction without entering a minimum bid amount or reserve price. This means the item is absolutely going to sell to the high bidder at end of auction duration. Bidder will place a proxy bid. Sealed Bid Auction Seller has the choice to list their auction with or without entering an optional reserve price.