Purchase Options – the When and How

Purchase Options control the way your Bidders and Buyers can interact with your Items, with Lots and Listings in Timed Auctions and the Marketplace offering the most flexibility in terms of Purchase Option support.

Which Purchase Option you can use is slightly dependant on which Item Type (Lot or Listing) you’ve chosen, here is a breakdown of each of the Purchase Options available for Lots and Listings in Timed Auctions and the Marketplace:

• Item Type: Lot
  • None (Purchase Option: NONE) – sets a Lot to Bidding Only.
  • Buy Now (Purchase Option: BUY_NOW) – for Lots, Buy Now enables the Purchase Price field alongside the Bid and Auto Bid options, allowing Bidders and Buyers to bid on that Lot or purchase it outright for the set Purchase Price amount.
  • Make Offer (Purchase Option: MAKE_OFFER) – for Lots, Make Offer enables the Make Offer button alongside the Bid and Auto Bid options, allowing Bidders and Buyers to submit offer amounts, which can then be accepted or rejected via the Bid Table or Offer Table.
    • Offers are capped to 3 offers per Item by default, this cap can be raised or lowered.

• Item Type: Listing
  • Buy Now (Purchase Option: BUY_NOW) – Buy Now is the default Purchase Option for Listings, marking the Purchase Price field as required. Listings with Buy Now enabled can be purchased outright at any point prior to the End Date and Time.
  • Make Offer (Purchase Option: MAKE_OFFER) – Make Offer enables the Make Offer button allowing Buyers to submit offer amounts, which can then be accepted or rejected via the Bid Table or Offer Table.
    • Offers are capped to 3 offers per Item by default, this cap can be raised or lowered.

Which Purchase Option should you use?

Whether you use None, Buy Now or Make Offer is really up to you (and your Vendor/Consignor), Purchase Options can be switched whilst the Item is open so you’re free to experiment with them and find which option works best for you and your Bidders and Buyers.

From the Bidder/Buyer Perspective

Purchase Option: None

The None purchase option is the most straightforward configuration for your Timed Auction Lots.

None, or NONE as it appears in the Dashboard, sets your Lots to display only the Bid and Auto Bid options:

In our tutorials and guides, we also refer to Purchase Option None as Standard Bidding.

Purchase Option: Buy Now

Purchase Option: Make Offer

FAQ – Purchase Option: None for Timed Auction Lots

Q: Can I change my Purchase Option to or from None?
A: Yes, unlike Item Type, the Purchase Option assigned to both your Timed Lots and Listings can be changed at any point before or during your Auction via Bulk Edit.

Q: Is Purchase Option None the recommended setting for Timed Auctions?
A: We recommend starting with Purchase Option None if you’re new to Auctions, but we also encourage experimentation with the Buy Now and Make Offer purchase options. You may find Buy Now or Make Offer grants your bidders greater flexibility in how they interact with your auctions, but if you’re unsure, feel free to contact us at support@webtronoa.com to discuss it.

Q: What does Standard Bidding mean?
A: Standard Bidding is our term for Timed Auction Lots and Webcast Lots that are using Purchase Option: None. An example of Non-Standard Bidding would be if you are using Purchase Option: None, but you also have the Auto Bids only option enabled in your Auctioneer Profile settings.

Q: How do I set the Purchase Option to None when I’m filling out the Item Import Spreadsheet
A: To set Purchase Option: None when using our Item Import Spreadsheet template, fill in the word NONE in all caps under the Purchase Option column (Column Q in Excel).