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.
- 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