The following outlines the auctioning features for our product. These are the day-to-day features you can offer your buyers and sellers:
Basic auction features
- Bidding options:
- Incremental bidding
- Auto-bidding – bidders can set a maximum bid and leave the system to bid on their behalf
Or:- Sealed Bids – hidden bids, often used for pledges or sealed bid auctions.
And:- Buy Now bidding – an instant purchase can be made. This can be connected to a payment system and purchase made on line immediately
- Winning/Losing indicators – graphical display of the users current position
- ‘My Bids’ – bidders can see instantly their position for all lots they are bidding on.
- Opening bid – the level the first bid in the auction starts
- Bid increments – the minimum bid that must be placed to increase the bidding
- Reserves – the value that must be reached before the item will be sold.
- Set start and end date and time for lot
- Overtime bidding:
- 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.
- Emails alerts to bidders covering the following instances:
- Confirmation bids have been placed
- When they have been outbid
- Confirmation of autobids
- Bidding remains below reserve
- Registration confirmation
- Admin is copied in to any or all of these emails depending upon preference
- Set your own terms and conditions for the use of the site
- Search – there are a number of ways users can locate lots for sale:
- Lots can be searched on a site wide basis
- Users can filters using the categories available in the navigation
- Lots can be searched filtered by category
