The Different Types of Auctions Engine
Simple auction
Proxy auction
Silent Auctions
Simple auction
Simple auction is a normal auction type that provides customers to bid on auctions as per set settings.
Simple auction will flow as normal auctions will do like all bidders are bidding on auction and after auction ends highest bidder will win auction.
Enable proxy auction:
Got to add product page and set all options for auction product and add product and view product, follow below image.
Admin settings for simple auction:
Go to Admin dashboard -> auctions -> Theme settings -> Auction settings -> settings:Simple Auction and enable/disable settings follow below image.
Mask username: Enable this for mask username of bidder in bid list with ‘******’ sign.
Proxy auction
How does Theme implement proxy auction bidding?
Proxy auction is a feature of theme that will be used to automate the bidding process for auction that will help to bidder fast bidding.
Enable proxy auction:
Got to add product page and check the checkbox of ‘Enable proxy bidding’ set other options as well for auction product and add product and view product, follow below image.
Working flow of proxy auction:
On product page you place a bid this is your maximum bid and another user can bid on this product if another user bid lower than your bid then the next bid is placed automatically by theme on behalf of you.
If another user bid higher than your maximum bid in this case it will show ‘outbid’ message then you need to place bid higher then another user maximum bid.
Let's see one example:
In the above screenshot, admin has added auction with the following values:
Opening price = Rs 100
Reserve Price = Rs 100
Bid Increment = Rs 100
User A visits the product and places a bid of Rs 500.
The Theme will do the following:
Set the maximum bidding amount for User A = Rs 500
User B visits the product and places a bid of Rs 200.
Place an automated bid on behalf of User A of Rs 300. Thus for User B, Immediate Outbidding will occur. If User A place a bid and it is outbid immediately then it is certainly User B bidder is using proxy bidding and has User B maximum amount more than User A current bid. In this case, User A need to bid keep bidding higher until User A have passed the User B's maximum bidding amount.
Admin settings for proxy auction:
Go to Admin dashboard -> auctions -> Theme settings -> Auction settings -> settings:Proxy Auction and enable/disable settings follow below image.
Mask username: Enable this for mask username of bidder in bid list with ‘******’ sign.
Mask bid amount: Enable this for mask bid amount of bidder in bid list with ‘******’ sign.
Disable Proxy Bidding to happen for amount less than Reserve Price too: Proxy Bidding is by default enabled for all bidding amounts but you can disable proxy bidding for bidding amount which are less than reserve price. This setting will help administrator who wants to have simple bidding before reserve price is reached.
Silent Auctions
What is a Silent Auction?
The silent auction is used to make silent/hiddenauction, as simple auction bidder’s bid on auction and highest bidder was won auction but in simple auction all bidder follow some rule to bid like bid higer then current bid, in silent auction will allow all bidder to bid any amount of bid and other user don’t know highest bidding amount after auction ends it highest bidder was won auction.
Enable silent auction:
Got to add product page and check the checkbox of ‘Enable silent bidding’ set other options as well for auction product and add product and view product, follow below image.
Features of silent bid in theme:
- Users can bid on any amount. In other types of bidding each user can bid an amount exact or more than the incremental price. Thus, there isn't any concept of proxy bidding when the silent auction setting is enabled.
- Users cannot see other bid amounts.
- The highest bidder will win the auction in the end.