A Fixed Price listing is a type of listing where there is no bidding, and the only way to win it is to use the Get It Now feature.
A seller with the "Seller Wings" badge can list an item with a Fixed Price at the time they create the listing by clicking the Fixed Price tab that's located below the listing's Description.
There will be a small listing fee when the item is listed, and a % of the amount earned will be deducted from the total sell price.
The Fine Print: When a Fixed Price item sells, the transaction fee (%) is collected when payment is transferred to you. The listing fee is collected once a listing goes live and is non-refundable. If a listing with the Fixed Price feature ends without a winner, the listing fee is not refunded. If the listing is automatically re-listed, a new listing fee will be charged each time.