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 Under $300 Auction ads run from 3 to 14 days.
For seven days your ad will appear under "New Listings", in the "category" that you choose, under "Tomorrow's Auctions" on the day before it closes, and under "Today's Auctions" on the day that it closes. For an additional 0.1 credit, an Under $300 Auction can also appear in the upcoming Sunday newsletter.
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.