FAQ: What is the difference between VALUATION and COST?

Question:  I'm setting up an item for my auction, but don't understand the use of the VALUATION field compared to the COST field - what are they used for?

Answer:  The VALUATION field is a free-format text field that is displayed to patrons as part of the item detail.  Whatever you type in the field is displayed on their phones.  You can leave it blank, you can enter a dollar amount (include the $-sign) or you can write something like "Priceless!".  The COST field is, and can only be, a dollar amount.  It is not displayed to patrons.  It is used in reports to calculate the profit margin (e.g. the final selling bid/price minus the cost is the profit.)  If the item is donated and has no cost, the cost is input as "0.00" (zero.)