The Stamporama Auction Buy It Now feature is an option that offers a seller the ability to set a price for an auction lot that the seller is willing to take for immediate purchase of the lot. When a buyer clicks on the Buy It Now button, the buyer immediately purchases the auction lot regardless of any other bids that may have been placed on the lot. The auction lot is removed from the open auction status, and is closed by the auction lot closing program on its next update. The auction lot closing program runs every few minutes.
Things that bidders and sellers should be aware of:
- The Buy It Now feature is optional. If used, the feature remains active and available even if a bid has been placed on the lot.
- Auction lots using the Buy It Now feature can be purchased immediately at any time that the auction lot is active.
- Bidders with active bids on an auction lot that has the Buy It Now feature will lose the lot to another bidder who selects the Buy It Now feature.
- A bidder who places a bid on an auction lot that is equal to or greater than the Buy It Now price will be the immediate winner of the auction lot at the Buy It Now price.
Page last updated March 2, 2016