Once Listia's Credits system is converted to Ink, all new listings will be listed in and priced in Ink. That means that Start Bid and Get It Now amounts will be priced in Ink (eg, 200.00 XNK), as will bids (eg, a high bid of 32.50 XNK).
Winners of these auctions are able to pay with credits, Ink, or credit/debit card. Sellers receive payment in Ink.
For all listings that were created prior to the switch, they will continue to be in credits, including any subsequent bidding or price changes (eg, a new high bid or an updated GIN price).
- Upon winning, they will be prompted to pay the high bid amount, priced in credits.
- Buyers can apply their credit balance as well as their Ink balance during the checkout process. Like today, any remaining amount due can be paid in dollars.
- Credits being applied toward a listing priced in Ink:
- Sellers will receive credits once payment has been made and transferred. Sellers can keep their earnings in credits, or optionally convert them to Ink.
In the event of a dispute, refunds, advances, and settles will all occur in the listing's original currency.
Since all new listings will be in Ink, the marketplace will likely contain only Ink listings within a couple of weeks.