The following outlines the additional advanced auctioning features for our Standard Product.
Advanced auction features
- Dynamic real-time bidding:
- Bidding updates in real time.
- The webpage does not have to be refreshed or reloaded for the user to see latest bidding
- Overtime bidding in real time:
- To derive true market value and prevent sniping
- Bidding can be extended by 10 mins if a bid is received in the last 10 minutes of an auction.
- Bidding continues until the last person stops bidding.
- The time left counts down in real time
- All of these bidding types:
- Incremental bidding
- Auto-bidding – bidders can set a maximum bid and leave the system to bid on their behalf.
- Sealed Bids – hidden bids, often used for pledges or sealed bid auctions.
- Buy Now bidding – an instant purchase can be made. This can be connected to a payment system and purchase made on line immediately
- Concept of auctions – this is where lots can be organised in to congruous groups of related items and advertised as a complete sale
- Lot tagging to provide users with a mean of cross referencing related lots
- Lot list filtering – bidders can view the lots by the following:
- Latest lots added
- Lots ending soon
- Lot with the current highest price
- Lots with the current lowest price
- Related items – this shows the items users may also be interested similar lots for sale.
- A good example can on the Buy Once Give Twice auction site
Market place features
These features are those that allow site visitors to put their own lots up for sale:
- Sellers can add, edit and mange lots through the “Manage my lots” section
- Sellers can set the following:
- Opening bid
- Reserve
- Bid increment
- Start and end time;
- Lots can be set as draft/live/archive
- Detailed descriptions can added and edited
- Lot images can be added (unlimited)
- Video can be embedded in lots to enhance the information presented to the bidders.
- Users can see whether the item has been paid for
- Despatch address is revealed when payment for the item has been received.
- We can add new fields to the lots (or any other entities for that matter)
Wanted Ads
- Users can place “classified ads” to entice sellers to come to the site to sell to a targeted audience.
- This means buyer and sellers can be matched together.
