eBay offers many different types of auction types to satisfy the needs of its millions of users. Below is a quick review of each auction type and the listing options that are available for each.
Standard Auction Style Listing
This is the normal auction type that made eBay famous. This is very useful if you have unique items to sell that have an unknown market value (i.e. antiques, collectibles, artwork). In its simplest form, you list an item for a specified length of time and let the market decide what it is worth. You must sell the item to the winning bidder or you risk negative feedback.
So you don't want to let Grandmother's antique vase go for less than $100? Then you better set a reserve. This is the lowest price you are willingly to sell your item for. If the bidding stops at $99, then you don't have to sell. Bidders won't know what the reserve is, but they will know when it hasn't been met.
Buy It Now
Would you be perfectly happy selling that vase at $150, but fear that the bidding may never get that high? What if a buyer fears that the bidding may jump well past $150? Then put a "Buy It Now" button to sell that item for $150. This ends the auction immediately with, hopefully, a happy buyer and a happy seller.
Get It Fast
If you are running a "Buy It Now" option then you can also add in a "Get It Fast" option. This requires that the item is ready to ship immediately and then delivered to the buyer rapidly. If you are new to shipping, then I recommend skipping this option until you figure it all out.
Fixed Price Listing
You will notice that eBay has moved beyond simply selling unique items of unknown market value. You will now see many stores and individual sellers offering non-unique items for sell (i.e. a brand-new TV) without even bothering with an auction. By definition, a "Fixed Price Listing" is also a "Buy It Now" listing since the price is always known.
You have the option of negotiating with your buyer when setting up a Fixed Price Listing. This functions exactly the same as a classified ad that suggests that they will accept the list price or best offer (OBO). Use this if you feel that your price might be too high and don't want to scare off any bargain hunters.
Multiple Item Listing
If a seller is selling new items at a fixed price through eBay, then they most likely have more than one to sell. With one ad, the seller can keep offering the item for sell until they run out. This is just like finding an item on the shelf of your local store: one price covers all.
I hope you find this information useful enough to get you started with your online auctions. If you have any question, cruise around other eBay listings to see how things are done. I am sure will find the process intuitive and exciting. Happy selling!