These are the auction terms. These terms are shown to the bidders when they attempt to place their first bid in the auction. The bidders are forced to read through and accept these terms before they can place their first bid or purchase a buy-it-now item.

Demo Auction with 'Price List' Display Format. The inventory does NOT have a bid box. Bidders will have the opportunity to preview your auction before the Live Auction Event.  

This is the Price List Bidding display format. This format gives your bidders the opportunity to preview your items prior to a Live Auction event.