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Advanced Auction Attributes

The Advanced Auction Attributes (Settings) allow users to specify an auction further than what is allowed by the default Auction Attributes. This article describes the process for enabling Advanced Auction Attributes (Settings) and defines each attribute.

This article contains the following sections:

 

Update Company Preferences


Company Preferences must be updated prior to using Advanced Auction Attributes.

  1. From the Dashboard, navigate to My Links > Company > Profile.
  2. Click on the Preferences tab.
  3. Click on the New Auction Default menu on the left side of the page.
  4. Check the Show Advanced Auction Attribute Tab box.                   AdvAuctionAttributes.PNG
  5. Click the Disk icon in the top right corner of the page to Save.

 

Auction Settings


Once Company Preferences have been set, the following changes occur on the Edit Auction page for all auctions:

  • Under the Auction Attributes tab, the Attributes column to the right will disappear (moved to the Adv. Attribute Settings tab).
  • The Adv. Attribute Settings tab will appear.
  • New Lot Attributes will become available.

Before turning on Adv. Auction Attributes:

AdvAuctionAttributes3.JPG

 

After turning on Adv. Auction Attributes:

AdvAuctionAttributes2.JPG

 

Advanced Attributes


This is the full listing of Advanced Auction Attributes. They will apply to any lots created via Lot Builder. The attributes that will be visible may vary depending on the Auction Software selected.

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.

  • 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 Seller field.
    • To enter different seller codes, leave the Seller field blank, 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.
  • 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.
  • 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.
    • To add the same location to every lot, enter it into the Location field.
    • To enter different location, leave the Location field blank, and then manually enter the location in the 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 shipping status. To select a shipping status for every lot, check the box to the left of Shipping Status and then select a status from the drop-down.
    • To select a different shipping status for various lots, check the box to the left of Shipping Status, but leave the drop-down blank. 
    • 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 Starting Bid field.
    • To enter different starting bids, leave the Starting Bid field blank, and then manually enter the amounts in the Starting Bid field under the Lot Details tab in Lot Builder.
  • Any reserve prices?: Enables the option to add a reserve price to lots.
    • To add the same reserve price to every lot, enter the amount into the Reserve field.
    • To enter different reserves, leave the Reserve field blank, and then manually enter the amounts in the 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 the Tax Code option will add a Tax Code field under the Lot Details tab in Lot Builder.
    • Enabling the Tax Exempt option will add a Tax Exempt checkbox under the Lot Details tab in Lot Builder.
    • Tax codes will need to be created before they can be applied.
    • For more information, see Applying Tax Codes.
  • Default Bid Increment?Bids for lots will increment using this amount.
    • Information entered in this field will not export to any online bidding platforms and can be left blank.
    • Companies will need to alter bid increments directly in the online bidding platform.
  • 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. 
    • To select the same ranking for every lot, select a Rank from the drop-down menu.
    • To enter different ranks, leave the Rank drop-down blank, and then manually enter the amounts in the 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.
    • To add the same estimates to every lot, enter the amount into the High Estimate and Low Estimate fields.
    • To enter different estimates for various lots, leave the estimate fields blank, and then manually enter the estimates in the High Estimate and Low Estimate fields under the Lot Details tab in Lot Builder.
  • Allow Buy It Now price?: Enables the option to add a Buy It Now price to lots.
    • To add the same Buy It Now price to every lot, enter the amount into the Buy It Now Price field.
    • To enter different Buy It Now prices for various lots, leave the Buy It Now Price field blank, and then manually enter the price in the Buy It Now Price 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
    • To add the same sales person to every lot, enter the name into the Sales Person field.
    • To enter a different sales person for various lots, leave the Sales Person field blank, and then manually enter the name in the Sales Person field under the Lot Details tab in Lot Builder
    • Enabling this option will also add 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
    • Manufacturer
    • Model
    • Serial
    • Asset Tag
    • Received On
    • Breakout
  • 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. Please see the Invaluable/AuctionZip help article for additional information.

 

 

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