Understanding Pricing Formats

Best Offer Fixed Price Auction
Fixed Price No Yes No
Commitment Fee (Token Amount) 2% - 3% Commitment Fee (Token Amount) 2% - 3% Commitment Fee (Token Amount) 2% - 3% Commitment Fee (Token Amount)
Transactional Closure Period 5 Days 5 Days 5 Days
When Commitment Fee (Token Amount) is Charged When seller accepts a best offer When buyer commits to buy When highest bidder wins
No. of Attempts Allowed Before Seller Accepts 5 None Unlimited until Auction ends
Full Payment Upfront N/A N/A Only in case of "Buy Now"
Is Price Negotiable Yes No N/A
Who all can participate One seller and multiple registered buyers One seller and one registered buyer One seller and multiple registered buyers (bidders)
Which Price is mentioned A selling price is mentioned on which buyer can give up to 5 best offers Non-negotiable selling price is mentioned Minimum bid is mentioned and bidder can make a higher bid
Which Buyer Gets Order Best Offer selected by Seller First buyer who pays the commitement Fee (Token Amount) Highest bidder after Reserve Price is met or Buyer paying full "Buy Now" Price
Seller Can Accept Any Price Yes N/A N/A
Buyer Knows About Other Offers/bids No N/A Yes
Does system reject lower than existing bids No N/A Yes
Can it be combined with droom promotional offers and deals Yes Yes Yes
Reserve Price N/A N/A Yes
Start Time Decided by seller Decided by seller Decided by seller
End Time Sellers Selects an offer and closes the deal Buyer commits to buy Auction time limit ends and higest bidder wins, Buy Now
Transaction Button is Called (in app & on Website) Make Best Offer Commit to Buy Bid Now or Buy Now
Duration Until listing is sold or deactivated by seller Until listing is sold or deactivated by seller Until Auction ends
Covered By Droom Buyer Protection Yes Yes Yes
certification