What's the Difference Between a Public Auction and a Private Sale?

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Flippa offers two ways to buy and sell online property: public auctions and private salesListing fees are the same for both options.

 

Public auctions

Public auctions are used by sellers who want to sell their properties quickly for the highest price.

In a public auction, the value of the current bid is displayed on the listing page.

Buyers who want to win the auction make bids that are higher than the current bid. The seller accepts only the bidder they want to include in the auction.

An accepted bidder won't necessarily win the auction: to be in the running to win, a bid must be equal to or higher than the auction's reserve price, as well as the bids of all other buyers who bid in that auction. The auction winner is the person who bid a price that was equal to or more than the reserve price, and higher than all other bids, before the auction ends.

Sellers using public auctions can also apply a Buy It Now (BIN) price to their properties. Buyers who are happy to pay the BIN price can buy the property on the spot.

Flippa's public auctions last for up to 30 days.

 

Private sales

Private sales are used by sellers who want to take their time to find the ideal buyer at the right price.

In a private sale, the offers made to the seller are kept private - even after the sale is completed. No one but the buyer and seller will know what a property sold for in a Flippa private sale.

The seller can only accept one offer - that's the offer that wins the sale. So if a buyer makes an offer on a private sale, and that offer is accepted, that buyer wins the sale.

Flippa's private sales last for up to 6 months.

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