Get It Now is an optional feature that lets sellers specify the exact amount of credits they would be willing to accept to end an auction early. Bidders would then have the option to "Get it Now" instead of going through the auction process and competing with other bidders.
The Get it Now option is available throughout the duration of the auction, until a bidder has decided to use it. However, once bidding on the auction has reached 50% of the Get It Now value, the Get it Now option will be removed and can no longer be used.
The Get It Now option is available for all sellers with the Seller Wings badge.
To prevent sellers from abusing this feature, 50 credits will be deducted from the seller's account when they list an auction with the Get It Now option. This fee is not refunded once the auction has started. However, this fee will will be fully refunded if a bidder later elects to "Get It Now" while the auction is running. The fee is necessary to help make sure sellers set reasonable Get It Now amounts.
When a bidder wins an auction using the Get it Now option, a percentage of the credits going to the seller will be deducted by Listia as a transaction fee.
For example if UserA lists an auction with Get It Now for 5,000 credits, they will immediately get 50 credits deducted for listing the auction. If UserB later uses the Get It Now option to win the auction early, the seller will receive 4,500 credits (500 credit transaction fee) for their item, and the original 50 credit listing fee will be refunded. However, if bidding reaches above 2,500 credits before the option is used, the Get It Now option will be removed and can no longer be used. The listing fee will only be refunded if the auction ends with Get It Now.
If your auction does not receive any bids and it is automatically relisted, another 50 credits will be deducted from your account. This will happen until the auction is no longer auto relisted.
Some of Listia's auction will have Get It Now as the only bidding option (no auction style bidding will be available). These auctions are essentially fixed price listings.