Auction and Software terminology can be a bit daunting and there are certainly quite a few bits of wording and acronyms floating around both the Webtron Dashboard and your Portal, here is a complete breakdown of all of the terminology we use and how we define each term:
Amount
Context Category – Platform Terminology. Terminology Category – Universal term. Alternate Terms – Amounts, Calculated Amount, Edit Amounts, Final Amount. Where it Appears – The Webtron Dashboard (Edit Invoice > Line Items list > Edit Amounts panel)
Definition – Amount refers to wording used in the Webtron Auction Management Dashboard. We use Amount to define a converted Rate or Value, for example, you can “Treat the Buyer’s Premium as an Amount” in the Invoice menu and set a manual Amount in place of the Buyer’s Premium value calculated by the Buyer’s Premium % rate of the Hammer value. Webtron’s in-Dashboard Invoicing also features a blue Edit Amounts button when editing a generated invoice.
Definition – Archive and Archived refer to an Auction status control and an Auction status found in the Webtron Dashboard.
Archive (Auction status control) – Archive is a status control in the Webtron Dashboard that moves Auctions to Archived status. The blue Archive button can be found on each Auction under the Actions column on the right-hand side of the Auctions & Items > View Auction page, but will only appear if an Auction is in Preview or Reconciliation status.
Archived (Auction status) – Archived is an Auction status in the Webtron Dashboard. Archived status is applied to Auctions in Reconciliation status and after the Invoicing phase has fully concluded. Archived shares many traits with Reconciliation status, but with one critical exception, Auctions in Archived status will no longer be available to view in Vendor+ Reports. Auctions cannot be edited or moved back from Archived status, Archiving is permanent.
Visibility:
On your Portal – Public, Auctions in Archived status will appear in your Portal’s Past Auctions page unless hidden via the View Auctions > Auction table > Hidden checkbox.
Inside the Webtron Dashboard – Visible only to Dashboard Admins, Auctions in Archived status can be found on the View Auctions page with the Modify Filter > Archived filter checked and applied.
Definition – Auction is the universal term for all Auction Types in the Webtron Dashboard, we use Auction as an umbrella term for the three distinct Auction Types; Timed Auction, Webcast Auction, and the Marketplace. We use the terms Auction and Sale interchangeably.
Definition – Auctioneers is a term that commonly refers to the Users & Groups > Auctioneers menu. This submenu contains the Auctioneer profile for your Webtron Dashboard Webapp, with default details such as your Buyer’s Premium, Additional Taxes, Invoicing and Payment Terms, and Auto-Increments table found within. Access to the Auctioneers menu is restricted to Webtron Admin Tier 5 and requires training before access is granted.
Auction Status is the term we use to define the current status your Auction is in, as there are five statuses (six for Webcast Auctions) following this order; Draft, Preview, Live, Reconciliation, and Archived, we’ll define each status:
Draft (Auction Status) – In the Webtron Dashboard, an Auction in Draft status means a Dashboard Admin has ticked the Save as Draft checkbox before clicking Save Auction when creating a new auction or editing an Auction in Preview status. Draft is a largely redundant status for an Auction, sharing most functionalities with Preview status but with one critical exception, Items cannot be created or uploaded to Auctions in Draft status. We advise ignoring the Save as Draft checkbox.
Preview (Auction Status) – In the Webtron Dashboard, all newly created Auctions will appear in Preview status. An Auction in Preview status can have Items created for or uploaded to it, but will remain hidden from your Portal until Approved, moving into Live status. Auctions in Preview status are fully editable, all original details set can be altered at any stage.
Live (Auction Status) – In the Webtron Dashboard, when an Auction in Preview status is Approved, it will move into Live status. As long as at least one Item for that Auction is also in Live status, that Auction will now appear on your Portal’s Current Auctions page. Auctions in Live status can be hidden by using the Hidden checkbox inside the Auctions table on the Auctions & Items > View Auctions page of the Webtron Dashboard.
Live (Pre-Bidding phase) – In the Webtron Dashboard, Live (Pre-Bidding phase) is an Auction status and phase unique to Webcast Auctions. The Pre-Bidding phase of a Webcast Auction follows the exact same layout as a Timed Auction. Pre-Bidding is optional and can be toggled on or off by editing your Webcast Auction, and ticking or unticking the Enable Webcast Pre-Bidding checkbox found inside the Dates tab.
Live (Live Bidding phase) – In the Webtron Dashboard, Live (Live Bidding phase) is an Auction status and phase unique to Webcast Auctions. Your Webcast Auction will automatically transition from the Pre-Bidding phase to Live Bidding phase once the auction reaches its set Start Date and Time.
Reconciliation (Auction Status) – In the Webtron Dashboard, auctions in Reconciliation status cannot be edited or returned from Reconciliation to Live status. Auctions in Reconciliation status are viewable by your Bidders in the Past Auctions page of your Portal. Reconciliation status is also nicknamed the Invoicing phase if you use Webtron’s in-Dashboard Invoicing solution or our Webtron Xero Invoicing Compatibility module in Vendor+.
Archived (Auction status) – In the Webtron Dashboard, an Auction can be moved from Preview or Reconciliation status to Archived status. Archived Auctions can’t be edited or restored from Archived to Live. Auctions are typically moved from Reconciliation to Archived at the conclusion of the Invoicing phase. All Reports and Exports are still available for auctions in Archived status, with the exception of Vendor+ Reports.
Auction Status controls
Context Category – Platform Terminology, Auction Setup Terminology. Terminology Category – Universal term. Appears in – The Webtron Dashboard, and Vendor+. Alternate Terms – Auction State controls, Auction Stage controls, Auction Phase controls, Phase controls.
Auction Status controls definitions
Auction Status controls refers to the control buttons inside the Webtron Dashboard that move Auctions from status to status. There are five statuses (six for Webcast Auctions) following this order; Draft, Preview, Live, Reconciliation, and Archived, with a unique buttons (and a checkbox) following similar wording:
Save as Draft checkbox (Auction Status control) – When saving a new Auction or editing an Auction in Preview status, Dashboard Admins can tick a Save as Draft checkbox next to the green Save Auction button above the Auction Details tabs. Ticking Save as Draft will move an Auction to Draft status, but we do not recommend using it as Draft status is largely redundant. When saving a new Auction, leave Save as Draft unticked to ensure the new Auction appears in Preview status.
Approve (Auction Status control) – Approve is a contextual blue button that appears under the Actions column inside the Auctions table on the View Auctions page when your Auction is in Preview status. Clicking Approve will move your Auction from Preview to Live status.
Start Auction (Webcast Live Status control) – Start Auction is a contextual green button that appears inside the Settings tab in the Webcast Clerking Console. Start Auction is unique to Webcast Auctions, and clicking Start Auction will immediately move your Webcast Auction from Live (Pre-Bidding phase) to Live (Live Bidding phase), overriding the set Start Date & Time for that Auction.
Reconcile (Auction Status control) – Reconcile is a contextual blue button that appears under the Actions column inside the Auctions table on the View Auctions page when your Auction is in Live status. Clicking Reconcile will move your Auction from Live to Reconciliation status.
Archive (Auction Status control) – Archive is a contextual blue button that appears under the Actions column inside the Auctions table on the View Auctions page when your Auction is in Draft, Preview or Reconciliation status. Clicking Archive will move your Auction from it’s current status to Archived status.
Auction Type
Context Category – Platform Terminology, Auction Setup Terminology. Terminology Category – Universal term. Appears in – The Webtron Dashboard, and Vendor+. Alternate Terms – Sale(s) Type, Sale Types, Auction Types, Type(s) of Auction.
Definition – Auction Type is the term we use to denote which Auction format is being used, the three format options are; Timed Auction, Webcast Auction, and the Marketplace. When Creating a new Auction, the first step is choosing which Auction Type you will use.
Audit Trail
Audit Trail – Audit Trail is the term that refers to the Audit History function in the Webtron Auction Management Dashboard. Certain actions undertaken by a Client Administrator, Bidder and the Dashboard itself will be recorded, either against the Dashboard’s Email and System Audit Trail (Accessible only by Super Administrators) or an individual Client Administrator and User/Bidder’s Audit Trail (available under the Users & Groups > Users > Edit User > Audit submenu). Examples of actions recorded by the Audit Trail are; when a Client Administrator Deletes an Item, when a Bidder or a Client Administrator alter their Profile (Change Email, Contact Details etc.), and what Emails are sent out by the Dashboard itself.
Auto Bid
Context Category – Core Functionality Terminology. Terminology Category – Universal Term, Feature Label, Portal Feature, Webtron Dashboard Terminology. Alternate Terms – Set Auto Bid, Auto Bid Max., Auto Bid Maximum, Auto Bidder. Supported Item Types – Lot, and Webcast Lot.
Visibility:
Your Portal – Visible only to the Bidder who set it at the bottom of the Lot they set it on.
The Webtron Dashboard – Recorded and viewable in the Bid Table, the Webcast Clerking Console and the Webcast Auctioneer Screen (as “Commission Bid”).
Definition – Auto Bid is the option that allows your Bidders to input or select a Set Amount as the highest Bid they are willing to place on an Item. The Portal will then place Bids on their behalf should any other Bidder place a bid against them, either until the Auto Bid is exhausted or the competing bidding activity ceases. The exact Auto Bid amount set by the Bidder is visible only to the Bidder who set it and Webtron Dashboard Admins (visible inside the Bid Table) but Bids placed by Auto Bid are marked out via the Auto Bid tag in the Bid History.
Format Differences – Click here to open our Auto and Manual Increments Explained guide.
Auto Increments
Context Category – Core Functionality Terminology. Terminology Category – Universal Term, Portal Terminology, Webtron Dashboard Terminology. Appears in – The Webtron Dashboard – Path:Users & Groups > Auctioneers > Edit > General Settings tab – Bidding section. Alternate Terms – Auto Increment table. Supported Item Types – Lot, and Webcast Lot.
Definition – Auto Increments refers to both the overall Auto Increment functionality, as well as options inside your Auctioneer profile and underlying logic inside the Place Autobid pop-up on your Portal. Auto Increments is the opposite of Manual Increments, meaning the Auto Increment table in your Auctioneer profile will set the Increment amount on all Lots automatically based on the Opening Bid and Current Bid, the same Auto Increment table applies for Webcast Clerking if the “Manual Incr.” checkbox on the Webcast Clerking Console is unticked. Click here to open our Enabling Auto Increments on Timed and Webcast Auctions guide.
Webtron Glossary – A
Auction and Software terminology can be a bit daunting and there are certainly quite a few bits of wording and acronyms floating around both the Webtron Dashboard and your Portal, here is a complete breakdown of all of the terminology we use and how we define each term:
Amount
Context Category – Platform Terminology.
Terminology Category – Universal term.
Alternate Terms – Amounts, Calculated Amount, Edit Amounts, Final Amount.
Where it Appears – The Webtron Dashboard (Edit Invoice > Line Items list > Edit Amounts panel)
Definition – Amount refers to wording used in the Webtron Auction Management Dashboard. We use Amount to define a converted Rate or Value, for example, you can “Treat the Buyer’s Premium as an Amount” in the Invoice menu and set a manual Amount in place of the Buyer’s Premium value calculated by the Buyer’s Premium % rate of the Hammer value. Webtron’s in-Dashboard Invoicing also features a blue Edit Amounts button when editing a generated invoice.
Archive
Context Category – Platform Terminology.
Terminology Category – Universal term.
Alternate Terms – Archived, Archived Status, Archiving.
Definition – Archive and Archived refer to an Auction status control and an Auction status found in the Webtron Dashboard.
Visibility:
Auction
Context Category – Platform Terminology.
Terminology Category – Universal term.
Alternate Terms – Sale, Sales, Auctions.
Definition – Auction is the universal term for all Auction Types in the Webtron Dashboard, we use Auction as an umbrella term for the three distinct Auction Types; Timed Auction, Webcast Auction, and the Marketplace. We use the terms Auction and Sale interchangeably.
Auctioneers
Context Category – Platform Terminology.
Terminology Category – Universal term.
Alternate Terms – Sale, Sales, Auctions.
Definition – Auctioneers is a term that commonly refers to the Users & Groups > Auctioneers menu. This submenu contains the Auctioneer profile for your Webtron Dashboard Webapp, with default details such as your Buyer’s Premium, Additional Taxes, Invoicing and Payment Terms, and Auto-Increments table found within. Access to the Auctioneers menu is restricted to Webtron Admin Tier 5 and requires training before access is granted.
Auction Status
Context Category – Platform Terminology, Auction Setup Terminology.
Terminology Category – Universal term.
Appears in – The Webtron Dashboard, and Vendor+.
Alternate Terms – Auction State, Auction Stage, Auction Phase, Phase.
Auction Status Definitions
Auction Status is the term we use to define the current status your Auction is in, as there are five statuses (six for Webcast Auctions) following this order; Draft, Preview, Live, Reconciliation, and Archived, we’ll define each status:
Auction Status controls
Context Category – Platform Terminology, Auction Setup Terminology.
Terminology Category – Universal term.
Appears in – The Webtron Dashboard, and Vendor+.
Alternate Terms – Auction State controls, Auction Stage controls, Auction Phase controls, Phase controls.
Auction Status controls definitions
Auction Status controls refers to the control buttons inside the Webtron Dashboard that move Auctions from status to status. There are five statuses (six for Webcast Auctions) following this order; Draft, Preview, Live, Reconciliation, and Archived, with a unique buttons (and a checkbox) following similar wording:
Auction Type
Context Category – Platform Terminology, Auction Setup Terminology.
Terminology Category – Universal term.
Appears in – The Webtron Dashboard, and Vendor+.
Alternate Terms – Sale(s) Type, Sale Types, Auction Types, Type(s) of Auction.
Definition – Auction Type is the term we use to denote which Auction format is being used, the three format options are; Timed Auction, Webcast Auction, and the Marketplace. When Creating a new Auction, the first step is choosing which Auction Type you will use.
Audit Trail
Audit Trail – Audit Trail is the term that refers to the Audit History function in the Webtron Auction Management Dashboard. Certain actions undertaken by a Client Administrator, Bidder and the Dashboard itself will be recorded, either against the Dashboard’s Email and System Audit Trail (Accessible only by Super Administrators) or an individual Client Administrator and User/Bidder’s Audit Trail (available under the Users & Groups > Users > Edit User > Audit submenu). Examples of actions recorded by the Audit Trail are; when a Client Administrator Deletes an Item, when a Bidder or a Client Administrator alter their Profile (Change Email, Contact Details etc.), and what Emails are sent out by the Dashboard itself.
Auto Bid
Context Category – Core Functionality Terminology.
Terminology Category – Universal Term, Feature Label, Portal Feature, Webtron Dashboard Terminology.
Alternate Terms – Set Auto Bid, Auto Bid Max., Auto Bid Maximum, Auto Bidder.
Supported Item Types – Lot, and Webcast Lot.
Visibility:
Definition – Auto Bid is the option that allows your Bidders to input or select a Set Amount as the highest Bid they are willing to place on an Item. The Portal will then place Bids on their behalf should any other Bidder place a bid against them, either until the Auto Bid is exhausted or the competing bidding activity ceases. The exact Auto Bid amount set by the Bidder is visible only to the Bidder who set it and Webtron Dashboard Admins (visible inside the Bid Table) but Bids placed by Auto Bid are marked out via the Auto Bid tag in the Bid History.
Format Differences – Click here to open our Auto and Manual Increments Explained guide.
Auto Increments
Context Category – Core Functionality Terminology.
Terminology Category – Universal Term, Portal Terminology, Webtron Dashboard Terminology.
Appears in – The Webtron Dashboard – Path: Users & Groups > Auctioneers > Edit > General Settings tab – Bidding section.
Alternate Terms – Auto Increment table.
Supported Item Types – Lot, and Webcast Lot.
Definition – Auto Increments refers to both the overall Auto Increment functionality, as well as options inside your Auctioneer profile and underlying logic inside the Place Autobid pop-up on your Portal. Auto Increments is the opposite of Manual Increments, meaning the Auto Increment table in your Auctioneer profile will set the Increment amount on all Lots automatically based on the Opening Bid and Current Bid, the same Auto Increment table applies for Webcast Clerking if the “Manual Incr.” checkbox on the Webcast Clerking Console is unticked. Click here to open our Enabling Auto Increments on Timed and Webcast Auctions guide.