We are super excited to have Instant Items available for our organizations!
Instant Items are available for organizations to add to their auctions. This is a great way to enhance interest and raise more funds! These items are provided at a discounted rate - that rate is called the reserve price. For example, see the item below, The Surfing trip to Costa Rica with Private Villa’s reserve price is $4,950. That is the amount that will go back to the business to pay for the item but your organization gets to keep the portion of the winning bid that is above the reserve price!
As with all items you can set the starting bid. With Instant Items, there will be a minimum starting bid that is above the reserve price and then some. This is to make sure there is a buffer for the credit card processing fee and that your organization makes a profit! As you can see in the image below the reserve price is $4,950 but bidding must start at $5,125 or higher.
To note: Instant Items must be paid for with the bidder’s card. You will not be able to accept alternative forms of payment for Instant Items at this time.
Once the auction is over the winner will be connected to a designated fulfillment contact to coordinate receiving the item they won.
I hope this helps answer some of your questions on Instant Items! If you have more questions check out our other support articles or reach out to our support team!