How are Timed Online auctions supported?

Nearly every aspect of the software platform is designed to support timed online auctions. It provides flexibility and control with a variety of settings. Here are a few key options:

  • Stagger closing times with adjustable time increments
  • Prevent sniping with “soft close” extended bidding where the closing period is automatically extended if bids are received near the end.
  • Synchronized extended bidding (aka “group soft close” ) allows groups of items to close at the same time. If the closing period is extended for any item in the group, then it is extended for all items in the group.
  • Automatic bidding allows users to submit the maximumamount that they are willing to pay for an item and the system will automatically place bids on theirbehalf.
  • Setting a reserve amount for an item allows bidding below the amount, but only awards the highest bid if the reserve amount is met.
  • Setting a buy-now amount for an item allows qualified users to purchase an item before the first bid is received.