Auction & Bidding

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Auction & Bidding

Features

The basic software features include a wide variety of bidding formats, comprehensive auction administration tools and any custom changes desired within the confines of a standard fixed layout.

Bidding Options:

Dynamic real-time bidding

  • Bidding updates in real time.
  • The web page 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
  • Combination bidding
  • Multi-unit bidding
  • Concept of auctions– this is where assets can be organised in to congruous groups of related items and advertised as a complete sale
  • Asset tagging to provide users with a mean of cross referencing related assets
  • Asset list filtering– bidders can view the assets by the following:
    • Latest assets added
    • Assets ending soon
    • Asset with the current highest price
    • Assets with the current lowest price
  • Related items– this shows the items users may also be interested similar assets for sale.

 User Management:

  • Track who has placed bids
  • Track when bids are made
  • Run ‘winning bidders’ reports
  • Delete bids
  • Trace IP Address from where bid was placed
  • Ban errant bidders from taking part in auctions
  • Verify user’s name and addresses
  • Control ability to upload items to the site – users can be prevented from adding assets if they are problematic
  • Track when users register on the site

Content Management:

  • Content management – for general website pages such as About, Contact and Help pages. Other pages can be added too, to reflect the service being offered
  • Featured assets– highlight valuable or unusual items for sale
  • Featured auctions– highlight a particular overall sale to the bidders.
  • Upload PDF documents, videos or any other type of file onto your site
  • Set your own terms and conditions that have to be accepted before users can bid on the site.
  • Categories– assets and news can be categorized in to sections
  • Tagging– assets and news can be tagged using key words.

Bulk Information Upload

Bulk upload options enable fast and effective implementation of large asset volumes in a single step. Asset details and text can be provided via a simple, standardized spreadsheet, while corresponding images can be uploaded and automatically allocated en-masse.

These features offer incredible time-saving benefits, together with the immediate ability to import data from other systems.

Where significant numbers of assets are being provided for an auction, this feature is absolutely essential, and provides for local data manipulation and editing, prior to insertion into the auction database.

Bulk Upload: Assets

  • standardized spreadsheet template, which can be downloaded from the administration area. All essential columns are pre-defined, ensuring you’re off to a quick start with no confusion.
  • Collate and organize all your assets in a simple and effective ‘local’ spreadsheet, before uploading to the administration area back-office.
  • Provides for the editing & modification of asset details ‘en-masse’, before final insertion into the software.

Bulk Upload: Images

  • ‘Drag & Drop’ functionality for all images, allowing you to upload everything required for an entire auction with the minimum of hassle and fuss.
  • Provides auto-allocation of each image to its corresponding asset via the asset number.
  • Full sorting, reordering and re-allocation capability for all asset images.
  • Individual images can be uploaded and changed asset-by-asset if desired.
  • Complete management of all asset images after bulk uploading has been completed.

Payment Features

For many reasons, your auction website obviously needs to be able to take payments. Most importantly, winning bidders will need to pay for the items they have won. It may also be necessary for sellers to pay listing fees.

We provide a wide variety of payment integration options for your auction site, from full integration to simpler off-site payment methods.

API type integration

API stands for ‘Application Programming Interface’…

  • API type integration means that the payment system will be fully integrated with your website.
  • Therefore, users will not have to leave your website in order to pay for items.
  • You will also be able to perform automated transaction functions(like refunding, repeating and aborting transactions).
  • This option is very professional-looking and allows a greater amount of control and customization than off-site integration.
  • However, this option can incur some additional security-related costs.

Live Auction Webcasting

For those auctioneers who wish to extend the reach of a traditional room-based auction out on to the web, then this webcasting module will provide the ability to broadcast assets, one at a time to your auction website as bids are made.

It comes with the following features:

  • Dynamic auction page that updates in real time as bids are made.
  • Assets on the website are auctioned one at a time as the room bidding progresses.
  • As each asset finishes the next asset moves up the page to become the current asset
  • There is an auction administrator console that provides a person in the room with the ability to transcribe bids in to the website.
  • There is an auctioneer console which provides the auctioneer with a real time view of what bids are being made by online bidders.
  • Full messaging service that provides a link between the room and the website. Announcements can be made to the online bidders by the administrator.
  • Online bidders can message the auction room, in real time, to ask questions.
  • Live audio from the auction room
  • Asset set up is the same as for the online auction system.
  • Winning bidder reports can be generated from the admin system.
  • Invoices can be generated for online bidders.

Auction Administration Tools

The following outlines how you manage your auction. This includes managing assets, users and bids along with exporting data from the website to your favorite external application:

Auction Management

  • Auction events – group assets together in to “events” or groups of related assets perhaps matched by sale type, campaign or charity.
  • Featured auctions
  • Auction logo
  • Description and introduction
  • Start and end dates
  • Set auction as draft/live/archive
  • Force users to register for this auction prior to bidding – this is useful for closed auctions.

Asset Management

As well as allowing sellers to upload assets to the site, you can manage the addition of assets in the admin part of the website. This means you can run the auction without allowing sellers to add assets directly if you wish. This is quite common in business-to-business auction sites.

  • Set reserves
  • Set opening bids
  • Set bidding increments
  • Upload unlimited photos
  • Embed Video
  • Upload PDF and documents
  • Add detailed descriptions
  • Set postage costs
  • Set start and end dates
  • Set overtime bidding triggers
  • Set assets as draft/live/archive
  • View payment notifications
  • Manage winner notifications
  • Place assets in categories
  • Tag asset with keywords
  • Make assets featured on the website home page
  • Moderated assets added to the website by sellers- this means you can control what assets go live on the site

Bid Management

  • Track who has placed bids
  • Track when bids are made
  • Run ‘winning bidders’ reports
  • Delete bids
  • Trace IP Address from where bid was placed

Data Export Management & Reporting

The following types of data can be exported from the admin system. The data you select for export can be gathered using a set of filters or search terms to tailor your export. These means you can filter by auction, by asset or by user. For example, you may want to export all winning bids for a certain auction. Or you may want export all assets for a certain auction.

  • Assets
  • Bids
  • Users
  • Auctions
  • Payments
  • Charities (where required)
  • Run reports
  • Winning bidders’ reports
  • Keyword search
  • Data filtering to help refine searches
  • Export report data to external applications

Auction Sales Reports

The main four Auction Sales Reports, provide asset-level drill-down and detail on:

Auction SalesA full breakdown, on an auction-by-auction basis, of sold/unsold assets

  • All sold assets, with their final hammer price, and who the winning bidder was.
  • The highest bids achieved per asset, and which made reserve.
  • Which assets remained unsold or didn’t achieve their reserve by auction-end.
  • Auction total sales at hammer price.
  • Provides live information during an auction to allow pro-active management.
  • Full Excel export available.

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