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Auction Settings

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Wavebid allows for configuration of a wide variety of catalog, clerking, accounting, and invoice preferences for each auction. This article outlines the various options on the Edit Settings page.

For information on creating an auction or editing event information, such as the address or main image, see Create an Auction.

This article contains the following sections:

 

Auction Attributes Tab

The fields on the left of the Auction Attributes tab relate to specific settings for the auction itself.

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  • Auction Software: Select the online bidding platform the auction is being exported to.
    • If the auction is not going to be exported to an online bidding platform, select Universal.
  • Type of Catalog: Select whether the event is spanning multiple days or rings.
  • Start Date: Click in the field and use the Calendar tool to select a Start Date for the auction. Use the Hour and Minute switches to select a time. Once the date and time are selected, click the Done button. The Start Date controls whether the auction appears under the Active, Upcoming, or Completed tab on the Dashboard. For more information, see Navigating Wavebid.

  • End Date: Click in the field and use the Calendar tool to select an End Date for the auction. Use the Hour and Minute switches to select a time. Once the date and time are selected, click the Done button. If an End Date is not set, the auction will automatically be moved to the Completed tab of the Dashboard at 23:59 on the Start Date.

  • Time Zone: The time zone for the auction.

  • Type of Auction: Select whether the auction is Live, Simulcast, Online, Sealed Bid.
  • Default Category: Click on the Magnifying Glass icon above the Default Category field to select a category for all the lots in the auction.
    • This category will only apply to lots created using Lot Builder. 
    • This category will be automatically applied to all lots created after the default is set.
    • Lots created before the default was set will not be impacted.  
    • The category can be changed on any lots as needed.
    • For more information, see Categories and Metadata.
  • Additional linking fields may appear depending on the Auction Software selected. View the help article related to that specific integration for more information.

The Attributes and Defaults will either be listed on the right side of the Auction Attributes tab, or will be listed under the Adv. Attribute Settings tab, depending on how a company was set up by their Wavebid Administrator. The Attributes and Defaults control specific settings related to the cataloging of an auction.

Values entered into the Defaults fields will only impact lots created after the defaults are saved. Lots created before the defaults are saved will need to be updated manually using Lot Builder, or Lot Bulk Actions.

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  • Assign seller(s) to lots?: Enables the option to add seller/consignor codes to lots. To add the same seller code to every lot, enter the seller code into the Defaults field.
    • To enter different seller codes, leave the Defaults field blank on the Auction Settings page, and then manually enter the seller code in the Seller field under the Lot Details tab in Lot Builder.
    • For more information, see Seller Inventory.
  • Include option to list quantity per lot?: Enables the option to set more than one item per lot. If it is not enabled, Wavebid will assume every lot is only one item.
  • List item locations per lot?: Enables the option to set a location for lots that differ from the main auction location. Enabling this option will add a Location field under the Lot Details tab in Lot Builder.
  • Show shipping calculator?: This calculator feature has been discontinued. However, this option will need to be enabled in order to have a buyer's shipping address appear on their invoice. For more information, see Invoice Shipping Address.
    • This option can also be used to track a lot's shipping status. Enabling this option will add a Shipping Status drop-down field to the Lot Details tab in Lot Builder.
    • For Proxibid events, the Adv. Attribute Settings tab must be enabled in order to view this attribute.

  • Default starting bid?: Enables the option to add a starting bid amount to lots. To add the same starting bid to every lot, enter the amount into the Defaults field.

    • To enter different starting bids, leave the Defaults field blank on the Auction Settings page, and then manually enter the amounts in the Starting Bid field under the Lot Details tab in Lot Builder.

  • Default Bid Increment: Bids for lots will increment using this amount.
    • Information entered in this field will only export to companies using LiveAuctioneers.
    • Companies using other bidding platforms may need to contact their Account Representative to alter bid increments.
  • Any reserve prices?: Enables the option to add a reserve price to lots. Enabling this option will add a Reserve field under the Lot Details tab in Lot Builder.
  • Different tax rates per lot?: Enables the option to apply a different tax code to a single lot, overriding the tax code being applied to the entire auction. Enabling this option will add a Tax Code field and a Tax Exempt checkbox under the Lot Details tab in Lot Builder. For more information, see Applying Tax Codes.
    • Tax codes will need to be created before they can be applied.
  • Select Closing Speed: Use the drop-down to select how many lots will close in a given time interval.
  • Show Lot Rank?: Enables the option to categorize lots by rankings. Enabling this option will add a Rank field under the Lot Details tab in Lot Builder.
  • Show Clerking Attributes?: Enables the option to set specifics about how an item is to be clerked ahead of time. Enabling this option will also make it so that clerking information like winning bidder and sale price can be viewed in the Auction Preview. When this option is enabled, the following fields become available under the Lot Details tab in Lot Builder:
    • Selling Price
    • Bidder Number
    • Number of Bids
    • Sale Group Type
    • Quantity Purchased
    • Lot Group
    • Online
    • Cost
    • Clerk Sheet #
  • Turn on High Low Estimates?: Enables the option to add high and low estimates to lots. Enabling this option will add a High Estimate and a Low Estimate field under the Lot Details tab in Lot Builder.
  • Allow Buy It Now price?: Enables the option to add a But It Now price to lots. Enabling this option will add a Buy It Now field under the Lot Details tab in Lot Builder.
  • Show appraisal values?: Enables the option to add appraisal values to lots. Enabling this option will add a Value 1, Value 2, and Value 3 field under the Lot Details tab in Lot Builder.
  • Publish to external software: This option only applied to BidWrangler and has been discontinued.
  • Show Company Defined Values: Show the list of custom fields created by a company. This setting will need to be enabled to Create Custom Lot Builder Fields. Enabling this option will add a Sales Person field and a Requires Approval checkbox under the Lot Details tab in Lot Builder, along with whatever custom fields were created.
  • Show Advanced Cataloging Values: Enables the entry of additional information regarding the lot. When this option is enabled, the following fields become available under the Lot Details tab in Lot Builder:
    • Model
    • Serial
    • Asset Tag
    • Received On
    • Breakout
    • Manufacturer
  • Other Catalog Values: Set additional fields for the lot and keep them separate from other cataloging values.
    • This option is specific to Invaluable/AuctionZip.
    • Enabling this option will add  Unit Number and Day Of Auction fields to the Lot Details tab in Lot Builder, as well as an Obfuscate Serial checkbox.
  • Auto Export Auction: This option is specific to the Proxibid integration.
  • Commission: Enables the option to add commission rates to specific lots that differ from the seller's overall commission rate. Enabling this option will add a Commission % field under the Lot Details tab in Lot Builder. If this field is left blank, the lot will use the commission rate listed in the seller's contract.
  • Additional fields may appear that are specific to Invaluable/AuctionZip and LiveAuctioneers. Please see those help articles for additional information.

 

Marketing Info Tab

The Marketing Info tab controls information for marketing partners and sites using the Wavebid Plugin. Anyone can use these fields for tracking purposes. AuctionSettingsMarketingTab.PNG

  • Tag Line: A non-html optimized field acting as a subtitle or catchphrase for the auction's marketing.
  • Start Date Alternative: A non-html optimized field displaying a substitute for the Start Date listed under the Auction Attribute tab.
  • Auctioneer Notes: A non-html optimized field for notes for the auctioneer about selling methods for marketing purposes.
  • Simple Description: A non-html optimized field for the description of the sale.

The remaining fields of the marketing tab will be HTML optimized. 

The information in this tab is the same as the information on the Auction Info tab under the auction's Marketing menu.

 

Dates Tab

The fields under the Dates tab are used to display various important event dates on a website. These settings are only applicable for sites using the Wavebid Plugin. AuctionSettingsDatesTab.PNG

  • Type of Auction: Set to Live, Simulcast, or Online.
  • Auction URL: The URL for the auction in the bidding platform.
  • Auction Registration URL: The URL to register to bid in the auction in the bidding platform.
  • Sort Date: The position the auction will appear on the website, overriding the position from the Start Date.
  • Preview Dates: Enter a start date and an end date.
  • Prebidding Dates: Enter a start date and an end date.
  • Bidding Dates: Enter a start date and an end date.
  • Checkout Dates: Enter a start date and an end date.

 

Accounting Tab

The Accounting tab controls some of the most important information relating to an auction. As one of Wavebid's core strengths, these settings can save hours of manual accounting work. For more accounting information, see the Accounting Guide. For information relating to VAT, see International Wavebid Features.

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Buyer's Premium Options

Additional Online Premium Options

  • Online Premium: A fixed percentage charged on invoices to bidders flagged as being "online" during check-in.
    • This value can be manually edited on individual invoices, if needed. For more information, see Invoices.
  • Online Premium Cap: A limit the amount charged for the Online Premium.

Credit Card Options

  • Fee Type: Determines how the Credit Card fee will appear on the invoice. See below for tax options. 
    • Additional BP
    • Convenience Fee
    • Cash Discount
  • Percentage: Enter the percentage of the fee.
  • Payment Gateway: Select a Payment Gateway to use for running credit cards. If a Payment Gateway is not selected, the user will not have the option of entering credit card information for bidders. For more information, see Payment Gateways.

Tax Options

  • Auction Tax Code: Click the Change button to select one of the tax codes created for the company. This code can be changed for individual invoices. For more information, see Applying Tax Codes.
  • Auction Tax Exempt: Sets the auction as tax exempt in its entirety. This can be changed for individual invoices. For more information, see Applying Tax Codes.
  • Buyer’s Premium Taxable: Sets a tax for Buyer’s Premium in addition to taxes for the hammer price of an item.
  • Additional BP Taxable: If the Additional BP Fee Type is selected under Credit Card Options, the option to have that fee be taxable will appear under Tax Options.
  • Convenience Fee Taxable: If the Convenience Fee Fee Type is selected under Credit Card Options, the option to have that fee be taxable will appear under Tax Options.
  • Cash Discount on Tax: If the Cash Discount Fee Type is selected under Credit Card Options, the option to have that fee be taxable will appear under Tax Options.

Changes made to the options above will only impact invoices that do not have any payments currently applied. Invoices that already have payment transactions applied to them will not be updated until payments are removed. For information on removing payments, see Payments.

 

Invoices Tab

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  • Process Seller Settlements: Turns on the processing of Seller Settlements. For more information, see Seller Settlements.
  • Process Buyer's Premium for Sellers: Turns on the processing of Buyer's Premiums for display to Sellers. Only turn this on if the Buyer's Premiums paid by bidders need to be shown to Sellers. 
  • Starting Invoice Number: Wavebid's default invoice numbering system is the bidder number (paddle number), followed by the event number (workspace ID), followed by the number 1 (unless the bidder has multiple invoices in the same event). For example, 5005-207744-1.
    • The Starting Invoice Number field can be used to enter a different invoice numbering sequence. For example, if 1000 is entered, the first invoice generated will be 1000, the second invoice generated will be 1001, and so forth.
    • This will only impact invoices that have not already been generated.
    • This feature cannot be used when importing post sale data, either manually or from a bidding platform. This feature can only be used when clerking a sale directly in Wavebid.
    • For more information, see Invoice Settings.
  • Invoice Email Template: Select an email template to use when emailing invoices via Wavebid. For more information, see Emailing Invoices.
  • Seller Settlement Email Template: Select an email template to use when emailing Seller Settlements via Wavebid. For more information, see Emailing Seller Settlements.
For information on selecting an invoice template, see Invoice Templates.

For information on invoice settings, see Invoice Settings.

 

Documents Tab

The Documents tab can only be viewed by Wavebid Plugin users.

PDF documents can be added to an auction and made available for download. These documents will only be published out to marketing partners and sites using the Wavebid Plugin. Documents will be held in Wavebid, but will not be pushed out to any bidding platforms.

For more information, see Wavebid Plugin: Add Documents to an Event.

 

Links Tab

The Links tab can only be viewed by Wavebid Plugin users.

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Buttons can be added to an auction that link to an online bidding platform or additional auction information. These links will only be published out to marketing partners and sites using the Wavebid Plugin. Buttons/links will not be pushed out to any bidding platforms.

For more information, see Wavebid Plugin: Bid Now/Registration Buttons.

 

 

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