Here's how to make sure you get the most from your auction action. How Auctions Work Internet auctions are bazaars. In most cases, sellers offer one item at a time, but sometimes sellers offer multiple lots of the same item. At some sites, the seller may be required to sell all items at the price of the lowest successful bid. At other sites, the seller is entitled to the prices bid by each of the highest bidders.
Some sites disclose the reserve price during the auction.
In the case of sales of multiple lots, the participants with the highest bids at the close of the auction are obligated to buy the items. After the auction closes, the seller is responsible for dealing directly with the highest bidder to arrange for payment and delivery. Payment Options Buyers may have several payment options, including credit card, debit card, personal check, cashier's check, money order, cash on delivery and escrow services. However, all sellers do not accept all forms of payment. Credit cards offer buyers the most consumer protections, including the right to seek a credit from the credit card issuer if the product is not delivered or if the product received isn't the product ordered.