online marketers maybe familiar with eBay. I've got same experiences when i'm trying to selling something on eBay. New comers like me, at first, must have a verified and linked eBay account with Paypal account. After that, because of i dont have a reputation or feedback yet, so i only have one possibility to sell my product on eBay by auction method.
How do it work? on listing process, you have to input a minimum price and listing time line. when buyer see your product and feel interested in the items, it will have three possibilities: they just only watch your product / they were only dropping by / they really want to buy your item. if it is like the last one, so they will input their desired price then clicking place your bid. and for the second buyer will take your item, he/she is only able to bid the higher price from the previous person.
for the buyer, i suggest you to take big chance of having the item by input the highest price but still reasonable for you. if it is not, the others are willing to take it.
for the seller, set your minimum item price and think the target. what do you really want till your items sold out. dont set the price too high and set the time line is only three days because i believe the buyer wont wait for so long.