Table of Contents
Reverse Auctions
Much like a regular auction except bidding goes down in price instead of going up like in standard auctions.
Highlights of the reverse bidding feature:
- bidding decreases in price instead of increasing
- bid increments used for standard auctions apply here also
- control access to reverse auctions on a price plan by price plan basis
- can charge final fees on reverse auctions.
- use the same final fee brackets as used for standard auctions.
- reverse auctions can close immediately with the "buy now" option which is optional when placing a reverse auction if you allow it.
Where do you manage Reverse Auctions as an option?
You would make this an option for your clients within the price plan they are attached to. Go to the auction price plan you wish to affect in your price plan admin tool and click:
PRICING > [EDIT] (next to auction price plan) > COST SPECIFICS > AUCTION PLAN ITEM
Below is a screenshot of the above admin tool:
Once enabled you will see reverse auctions as an option within the place a listing process when placing an auction. You would click "place an auction" within the client area and then choose "reverse" from the "type of auction" dropdown as shown in the following screenshot:
