To sell a product through an auction, it is essential to set it as “Auction” type.
Go to the product edit page and select the “Auction” type as highlighted in the screenshot.
You can configure the following options for the “Auctions” product:
- Starting Price: the starting price of the auction, the minimum bid amount.
- Bid up: the value of the automatic raise.
For instance: I offer 10€ and the starting price is 1€. In this case my 1€ bet is going to be displayed.
If another customer bids 2€, the plugin will automatically raise (according to the bid up value) until it reaches the top bid I have set up.
- Reserve price: minimum price required to sell the product.
If the auction ends and no bid exceeds the reserve price, the product can\’t be purchased.
- Buy it now price: price to purchase the product regardless of the auction underway.
The auction ends when the order is created.
- Auction dates: allows you to pick the day and the opening and closing times of the auction.
- Time to add overtime: number of minutes before the expiration date on which postpone the auction if a new bid is available.
- Overtime: number of minutes to extend the duration of the auction if a new bid is registered before its expiration
All the registered users can make their bids for an auction product from the related product detail page.
The access to the complete list of the users and their current bids is possible from the specific tab in the product detail page at any time.+
All the bidders who take part in the auction receive an email notification when the auction ends and the winner can proceed to purchase the product.
The winner receives a specific email suggesting to purchase the product through the Pay Now button.
If a user decides to bypass the auction to purchase the product at the fixed price set by the administrator,
the auction ends ahead of time as soon as the order is created.
The plugin offers the possibility to raise automatically the user’s bid in case of overbid.
If you want show to user the bid up setted for the auction, enable Show bid up option in the product settings.
How does the automatic bid up work?
Suppose we set a 5€ automatic bid up for the product and the auction base price as 50€.
The user “Alessio” makes a bid of 65€.
As it is the first bid, and we set the automatic bid up value, the system records a bid in the amount of the product base price rather than the 65€ the user offered.
John, a new user, makes a bid in the amount of 55€.
The system records the new bid and check the available conditions to apply an automatic bid up for those users who previously made a bid for the auction.
In our example, we have a recorded bid of 50€ made by Alessio. Actually, the user initially bade 65€, therefore, the system can automatically apply a new bid for him.
The new bid will be in the amount of 60€. This value is given by the 5€ automatic bid up applied to the highest recorded bid (55€).
The reserve price is the value that must be reached to allow the successful end of the auction.
The reserve price is optional. You must set it directly in the product itself.
If no bid reached neither exceeded the reserve price at the auction expiration, no bidder will win the auction. The shop administrator will receive a notification email concerning the product not sold.
The plugin offers the possibility to postpone the auction expiration when a bidder makes a new bid a few minutes before it ends.
How to do it?
You need to set the “Time to add overtime” and “Overtime” parameters and apply them to all the products (from the plugin settings dashboard) or specifically to single product.
How to configure these settings in the correct way.
- Time to add overtime: number of minutes before auction expiration within postpone it if a new bid is recorded.
- Overtime: number of minutes to extend the auction duration if new bid recorded before its expiration
If you want show overtime in product page, enable the option Show overtime.
Let’s make an example
Suppose we set our parameters as follows.
- Time to add overtime: 5
- Time to add overtime: 10
The auction expiration is set at 10.00.00.
The user Alessio makes a bid at 09.57.00 (3 minutes before the expiration)
The auction expiration is postponed at 10.10.00
The auction will end only if no new bid will be recorded during the last 5 minutes.
You can offer your users the possibility to choose the buy it now option for any “Auction” type product. In this way they can purchase the product at a fixed price bypassing the current auction.
The fixed price must be essentially set in the related product in the Buy it now price entry.
If the user purchases the product, the auction ends soon after the new order is created.
You can reschedule any auction already ended.
- Go to the related “Auction” product and click on the “Reschedule” button
- Set the new start and end dates.
- Save the product after checking the new parameters are correct for the new auction.
By default, the list of the bids registered for the auction does not update automatically.
As a consequence, the user who is monitoring an auction can view the new bids made for that product only after refreshing the page.
However, you can change this behavior by enabling a periodical check on the product to verify the availability of new bids. In this case, the system updates the page automatically and shows the new table to the user who is visiting that page.
To do it, go to YITH Plugins -> Auctions -> Settings and insert how many seconds need to pass before checking the new bids registered for the current auctions.
You can set a different value for the product and My Account pages.
The plugin creates 6 emails you can find among the WooCommerce automatic emails in WooCommerce > Settings > Emails.
- Highest bid overbidden: informs customers that their highest bid has been overbidden.
- End: email sent to the user when the auction is about to expire. For the correct email sending, enable the Send emails entry in the plugin settings.
- Winner: informs customers about winning the auction.
- Auctions – reserve price not exceeded: you receive a notification in case an auction has ended without reaching the reserve price.
- Auctions – Without bid: you receive a notification in case an auction ends without offers.
- Auctions – Has a winner: receive a notification when the auction ends and has a winner
The plugin is ready to use with the new Gutenberg editor. When you add a new post or page, you will be able to find our YITH shortcodes and widgets. With a simple click they will be added to your page.