Once an auction's end time has passed, the auction becomes an Ended Auction, and no further bids may be placed.
In this phase, the seller may still need to accept or reject bids, and the winner of the auction hasn't been decided.
All pending bids must be accepted or rejected by the seller. If the seller doesn't accept or reject the bids within 72 hours, Flippa will automatically do so.
If none of the accepted bids meet the auction's reserve price, no winner is declared and the auction is marked as Closed.
The seller still has a chance to message buyers that have bid on the listing so far and invite them to increase their bid to meet the reserve. This is called Post Auction Negotiation or PAN.
Within PAN, the seller can make an offer to all interested parties, or alternatively, any interested parties can make a single offer to the seller. If an outbound or inbound offer is accepted, then said bidder is declared the winner of the auction. If the seller chooses, they can also opt to re-list their site right away.
If bids have been accepted that are equal to or more than the reserve price, the highest of these is declared the winning bid, and the auction's marked as Won.
The seller will see a note on the auction listing that invites them to complete the sale through Flippa's Sale Completion Area.
The winning buyer is legally bound to purchase the item at the price indicated by the bid s/he made; likewise, the seller's legally bound to sell the item to the auction winner at that price.
To help complete the transaction, Flippa will automatically email the contact details of the winning buyer to the seller, and those of the seller to the winning buyer.