Price Drop
The Price Drop feature allows you to try setting the Opening Bid higher
than you might initially want in order to help drive up your successful
bid amounts. Using the Price Drop feature, you can set the Opening Bid
to some amount, then if the auction does not receive any bids within a
certain amount of time, it will start decreasing the Opening Bid until
it either receive some bids, the auction closes, or it reaches the Price
Drop Floor that you specify. The Opening Bid amount will not drop below
the Price Drop Floor. Once the Price Drop Floor is reached, the Opening
Bid will remain at that amount forever.
You should set the Price Drop Floor amount to the absolute lowest amount
you are willing to accept for this auction. Then you can set the Opening
Bid to a higher value in order to try to start your bidding at a higher
level. The Price Drop Interval determines how often the system will
attempt to lower the Opening Bid if no bids have been received.
The Price Drop option is only available on Standard, Multiple Item, and
Blind auctions.
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