Auction service is a process of buying and selling items by offering them up for bid, taking bids, and then selling the item to the highest bidder. We have auction service for sellers to post their ads and for buyers to submit bids.

Before we proceed, here’s some auction terminology you should be familiar with:

Duration : An ad posted for Auction will run for 90 days.

Reserve price: This is the minimum price at which product will sell

Starting price: This is the price at which auction starts. We keep the starting price at precisely 70% of the reserve price.

Bid step: This is the minimum difference that should exist between each bid

For example:

Suppose you post an ad for a used iPhone 8 that you want to sell at 1000 SAR. This is the reserve price. Interested buyers can start bids 700 SAR (starting price). The second bid should be at least 710 SAR or more.

The process of posting an ad for auction is pretty simple. Simply sign in and post your ad. Do ensure to invite bids from your connections who maybe interested in the item. Sharing can be done through whatsapp groups or Facebook connections.