Monday, August 03, 2020 10:17 AM

POSTING ITEMS FOR SALE

REGISTER:

This auction requires that all sellers and buyers be registered. This enables the auction to keep track of items for sale and who is bidding. It protects the auction and you as buyer and/or seller. Registration is simple. Click on [Register] here or near the top of any auction page. You must print and return a signed copy of the auction agreement. Once you have completed the on-line registration form, you will receive an e-mail with your password. Save a copy of this e-mail. Once the auction has received your signed agreement, you receive a second e-mail, informing you that your account has been activated. You may then logon to the auction. If you would like you may then also change your password to something more easily remembered.

LOG IN TO POST AN ITEM:
Posting items for sale is accomplished by clicking on [Sell] here or at the top of any auction screen.

STANDARD AUCTION OR DUTCH AUCTION?
The first choice you must make is the type of auction you wish to use. There is either a Standard Auction or a Dutch Auction.

A Standard Auction is what most people think of when they think of an acution and it is what Jefferson State Trading Company has used during the first three years of business. In the Standard Auction, the seller sets the starting bid dollar amount, the bid increment, and if he chooses the reserve and buy-it-now price. Buyers compete for the item by increasing the bid amount.

In a Dutch Auction, the seller list the number of items he has for sale and sets a fixed unit price. The buyer agrees with the fixed price and chooses how much or hom many of the items he wishes to buy.

STANDARD AUCTION POSTING FORM:

STEP 1:  Fill in the form that pops up with a short descriptive title in the space labeled ITEM NAME TO BE POSTED. This will be the text that is dispalyed in the Items Listing.

STEP 2:  Next, select the category in which the item should be listed from the drop-down menu.

STEP 3:  Decide how many days you want to offer your item at auction before the auction closes. Our system supports 1-21 days.

STEP 4:  This system has an AUTO RELIST feature. You can choose how many additional times your item will be relisted for the number of days that you specified above.

STEP 5:  Enter a description of what you wish to sell into the Description box. A description is required. This is where you can provide more information than you did in the Item Name above.

STEP 6:  Your Starting Bid is very important. If you put a very low price just remember, you might get it! The best auction strategy is to start an item at the lowest price you are willing to sell it for, then anything above that is a pleasant bonus!

STEP 7:  Some sellers wish to have a Reserve Price. A Reserve Price is a minimum price that you will actual accept. For example, you think an item should sell for $100, but you are willing to go as low as $80. You also wish to generate a lot of interest in the item so you set the starting bid very low with the hope that there will be a quite a bit of bidding. So you set the starting bid at $10 but since you want to get at least $80 for it, you set a reserve price of $80. In such a case--even if the high bid is at, say, $79.99--there will not be a sale because the reserve price of $80 was not met.

A reserve price is optional. The value of the reserve price cannot be seen by potential buyers.

STEP 8:  Set the Bid Increment. This is the amount that each bid will increase.

STEP 9:  If you wish to allow a BUY-IT NOW sale for your item, then set it here. The Buy-it now price must be set higher than your starting bid price.

STEP 10:  NOTICE Posting items on this and any internet auction is a legally binding action. You are irrevocably promising, assuming you get one or more bids, to sell the item.

STEP 11:  After the description is complete, enter your username in the Your Username box and your Password in the box below.

STEP 12:  Once the posting form is filled in to your satisfaction, hit the Preview button. The system shows how the posted item will look. If you like what you see, click on the Post button and the auction is live.

DUTCH AUCTION POSTING FORM:

STEP 1:  Fill in the form that pops up with a short descriptive title in the space labeled ITEM NAME TO BE POSTED. This will be the text that is dispalyed in the Items Listing.

STEP 2:  Next, select the category in which the item should be listed from the drop-down menu.

STEP 3:  Decide how many days you want to offer your item at auction before the auction closes. Our system supports 1-21 days.

STEP 4:  This system has an AUTO RELIST feature. You can choose how many additional times your item will be relisted for the number of days that you specified above.

STEP 5:  Enter a description of what you wish to sell into the Description box. A description is required. This is where you can provide more information than you did in the Item Name above.

STEP 6:  Set your unit price. In a Dutch Auction this is the price that each of your items will sell.

STEP 7:  NOTICE Posting items on this and any internet auction is a legally binding action. You are irrevocably promising, assuming you get one or more bids, to sell the item.

STEP 8:  After the description is complete, enter your username in the Your Username box and your Password in the box below.

STEP 9:  Once the posting form is filled in to your satisfaction, hit the Preview button. The system shows how the posted item will look. If you like what you see, click on the Post button and the auction is live.

You will be notified automatically by e-mail if the items sells, or if it ends without selling. At that time, feel free to repost unsold items.

We expect you to be honest and truthful in the descriptions of posted items. Anyone abusing this auction will have his or her account cancelled promptly.


Jefferson State Trading Company
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