To sell a product through an auction, it is essential to create an “Auction” type product. Go to the product edit page and select the “Auction” type as highlighted in the screenshot below.
- Starting Price: the starting price of the auction, the minimum bid amount.
- Bid up: the value of the automatic raise.
E.g. I offer 10€ but the starting price is 1€. In this case, not my 10€ but my 1€ will be displayed. If another customer bids 2€, the plugin will automatically raise my bet (according to the bid up value) until it reaches the top bid of 10€ I have set up.
- Minimum increment amount: Minimum amount to increase manual bids.
- Reserve price: minimum price required to sell the product.
If the auction ends and no bids exceed 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: pick the days and the opening and closing times of the auction.
- Time to add overtime: number of minutes before the expiration of the auction to see if overtime needs to be added.
- Overtime: number of minutes to extend the duration of the auction if a new bid is registered before its expiration.
- Automatic rescheduling: time to automatically reschedule auction without bids.
- Show bid up: show bid up on product page
- Show overtime: show overtime on product page
- Tax settings: decide if the product is taxable, or only the shipping costs.