FishList allows you to list your products for sale in an auction. An auction basically allows you to list products for sale at a starting, minimum price, and buyers can bid to raise that price; the buyer with the highest bid wins! Auctions on FishList are almost the same but we have added a few features that add additional functionalities and make things more interesting.
When you have added the initial details of the product then you are asked to add a time that is appropriate for your auction. You can choose anytime according to your own will, like a time when more buyers are online and they can participate in your auction.
After that, you have to set different prices, which is the most important part: start price is the price from where you want to start auction for your particular product; bid increment is the minimum amount difference between two bids; buy it now is the price which you think that is a good price for your product; reserved price is very important for the vendor, because when you have reserved a price for a particular product than you don’t need to worry about a loss in that product. A reserve price is a bare minimum that buyers must bid for; below the reserve price you are not obligated to sell them that product else.
Proxy bidding is somewhat related to the reserve price, in this procedure system automatically select a top bidder after the reserve price has been reached, it selects bidder after a time when there is no increment occur in the bidding.Unfortunately, when bidders miss your auction then you can use the relisting option to make them visible your auction product.
In this post, I’ll help you in Creating an Auction on the vendor dashboard on FishList. First of all, you need to login through a vendor account then click on the Sell button given on the top right of the page. Now a new page will load, you have to click on the Auction given on the left side of the page like given below in this post.
Now click on the button of Add New Auction Product given on the right side of the page. A new page will load like given below:
Now add photos of your product, write its name or title, categorize it and add a short description of it. In General Options it is to choose Item Condition, Auction Type and Time for Auction, Moreover, you have to set prices.
It is the specific price from where you want to start bidding on your product. Let’s set 20$ as a Start Price of product, Now every time when bidding starts, it will starts from 20$.
This is the amount, which will increase for your product, each time whenever a customer bid on your product. If you set 2.5$ as a Bid Increment then its price will increases as 22.5$, 25$, 27.5$ and so on, on a product with a Start Price of 20$.
It is a previously set price in which you want to sell your product. If there is a reserve price for your product, it means you don’t want to sell it less than that specific price. A reserve price tag is shown to your bidders, if a bidder has won the bidding and still not reach your Reserved Price then you are not obligated to sell your item.
Buy It Now
Buy it now disappears when bid exceeds the Buy now price for the normal auction or is lower than the reverse auction.
Auction Start Date
It is the specific date and time at which you want to start bidding for your product. You may choose the same day or any other day.
Auction End Date
The time when you want to stop bidding from customers on the product. There should be enough gap between Auction Start Date and Auction End Date.
If you enable this feature then it will be easier for you and buyers. In Proxy Biding, once the reserve price has been reached then the system will automatically select the top bidder.
Enable Automatic Relisting for this Auction
If you enable this feature then you can relist your Auction when its end time has expired, even if you are offline. “Relist if fail after n hour” means, if there were no bidding in your Auction Product during the Auction Start Time & End Time then after how much time you want to relist your auction. “Relist if not paid after n hour” means, after bidding how much time you want to give your buyer to pay the bid, so that, relisting may occur after that time.