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Auction Settings

Wavebid allows for configuration of a wide variety of catalog, clerking, accounting and reporting preferences for each auction. Auction settings allow companies to control almost every aspect of the inner workings of their auction. This article outlines the various options and settings in the Auction Settings tab. For information on creating an auction or editing auction information, such as the date or main image, see Create an Auction.

There are eight tabs available based on how the Wavebid Administrator has activated a company's tools. This section outlines details on all eight tabs; with two (*) starred as optional features for certain users.

 

Auction Attributes Tab

Marketing Info Tab

Dates Tab*

Accounting Tab

Invoices Tab

Online Checkout Tab

Documents Tab*

Links Tab

Auction Attributes Tab                                                                             

AuctionAtributesTab.PNG

The fields on the left relate to specific settings for the auction itself:

  • Auction Software: Select the bidding platform for the auction. If no bidding platform is being used, select Universal
  • Auction Preview Page: Set to Scrolling or Pages view for Lot Number column in Auction Preview. 
  • 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.

  • Default Category: Sets a default category for the lots in the auction. This category will only apply to lots created using Lot Builder.
  • External ID: This field assists in linking an auction to an outside bidding platform

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. The default for all settings will be off. The settings that will be visible may vary depending on the Auction Software selected.

  • 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.
  • 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. This will only impact lots created after the default starting bid is saved. Lots created before the default starting bid was saved will need to be updated manually using Lot Builder, or in bulk using Lot Bulk Actions. 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 with 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. This option is only available for Invaluable/AuctionZip and BidWrangler.
  • 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.
  • Additional fields may appear that are specific to Invaluable/AuctionZip and LiveAuctioneers. Please see those articles for additional information.

 

Marketing Info Tab                                                                                   

The Marketing Info tab controls information for certain websites and bidding platforms. 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, allowing the contents to contain markup. 

 

Dates Tab                                                                                                 

These settings are only applicable when using Auction Service's i3 WordPress 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 one of most important tabs related 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

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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".
  • 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                                                                                              InvoicesTab.PNG

  • 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 Buyer's Premiums need to be shown to Sellers. 
  • Starting Invoice Number:
  • Invoice Email Template: Select an email template to use when emailing invoices via Wavebid. For more information, see Invoice Email Templates.
  • 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.

 

Online Checkout Tab                                                                                

For information on using Online Checkout for online auctions, see Online Checkout.

 

Documents Tab                                                                                        

PDF documents can be added to an auction and made available for download. These documents will only be published out to marketing partners, Ignite 3, and AS4 sites. Documents will be held in Wavebid, but will not be pushed out to any bidding platforms. For additional information, see Hosting Documents on a Website.

 

Links Tab                                                                                                   

LinksTab.PNG

  1. Enter a URL for the Bid Now and Registration buttons.
  2. For custom links, enter the name for the button into the Label field.
  3. Enter the button's URL into the URL field.
    • Click the Add link to include more links.
    • Click the Trashcan icon to the right of the link to delete.
    • Links will appear in the order listed here. To rearrange, click and hold the Move icon and drag and drop until the links are in an ideal order.
  4. Click the Disk icon in the top right corner of the page to save.
  5. Confirm that the links are functional from the auction website.

If auction or auction registration URL’s are not added, users who click Go to Auction will be directed to a Wavebid page instead of going directly to bidding.

Please note, an auction may need to be posted again for the links to take effect. For AuctionZip, return to the Marketing Tasks tab and post to AuctionZip.

 

 

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