Choose this type of LabAuction if you need to specify a minimum bid of more than $700 for your item. You are obligated to sell your item to the highest bidder at the close of the auction period as long as the bidding has reached the minimum bid that you specified in the ad form when you entered your ad.
A "LabAuction" ad allows you the opportunity to sell your item to the highest bidder at the end of the time period allotted to the auction. This type of ad allows the current market conditions to set the price for the item you wish to sell -- the more needed or desired the item, the higher the price you will receive.
The "Featured LabAuction" ads run from 3 to 21 days, but must include at least one Sunday to be entered into the newsletter.
Your ad will appear in the "category" that you choose, under "New Listings" for seven days, under "Tomorrow's Auctions" on the day before it closes, and under "Today's Auctions" on the day that it closes. All featured auctions are prominently displayed at the top of the auction display pages. Your ad will be displayed under the "Showcase" section if you attach a picture of the item to your ad. Your ad will also have a listing featured in the weekly newsletter on the Sunday immediately following the day it is submitted to LabX.
Note: There are no "hidden" reserve prices on LabX. The minimum bid that you specify must be the minimum amount you will accept for the item.