But if you're selling a single item, you can have only one listing. Typically, the opening price is ten percent of the item's market value. Some sellers set the opening bid near or at the market value to ensure they recoup their investment with one bid. This, however, can discourage bidders. It depends on the auction site.
Different sites allow users to choose different auction lengths.
There are several auction formats, each with their own accompanying rules and regulations. Settling on a format depends on how much merchandise you want to sell, and how much you want to control pricing and bidding. Sellers set the opening bid and must respect the final price at the end of the auction. Use a reserve auction if you want to set the lowest price at which you're willing to sell an item. This amount is not revealed to buyers, although it will be noted as met if it is surpassed.