Fixed Price Auction

A fixed-price auction, also known as a "Buy It Now" auction, is an online sales format where a seller lists an item for sale at a set price, and buyers can choose to purchase the item immediately at that fixed price without engaging in bidding. This format allows for straightforward and quick transactions, as buyers simply agree to the listed price to acquire the item. Fixed-price auctions are commonly used in e-commerce platforms like Amazon, where products have set prices, and buyers can make purchases instantly without the need for competitive bidding.