The Alerts button in the eBay Toolbar tells you how many new alerts you have and shows the top items that are ending soon.
You can receive the following buyer Alerts:

Bid Alerts for items ending soon

Watch Alerts for watched items ending soon

Outbid Alerts when you're outbid

Second Chance Offer Alerts

Best Offer Alerts when you make a Best Offer

Item Ended Alerts indicating if you've won

Mobile text message or Instant Message alerts
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