What is Proxy Bidding?
Proxy Bidding is a concept in which the system automatically bids on your behalf up to the maximum bid amount that you have chosen. This is simple to make the online auction process much easier and less time-consuming.
Proxy Bid is the Maximum Bid and not the Current Bid.
How Proxy Bidding actually works?
Let’s understand this with a scenario:
Suppose an auction starts with $10 as the starting bid. Now, a bidder A places a proxy bid of $20.
So, now the system will automatically start bidding from $10 up to $20 on the behalf of bidder A.
Now, if a bidder B comes to place a bid, he will see the current bid= $10. Suppose, Bidder B places a bid of $15. Then, he will be immediately outbid by bidder A with a new minimum bid of $16.
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Thus to outbid bidder A, some other bidder has to place a bid of $20.01 or more.
Now, if bidder B places a bid of $20 then it will be equivalent to bidder A’s maximum bid. But still, bidder A will be the highest bidder and the new minimum bid will become $21.
So, this is how the flow of proxy/automatic bidding goes.
Product Auction: Proxy Bidding Feature
The Admin can enable the functionality of proxy bidding using the Product Auction app on his Shopify store.
So to configure this, visit Product Auction app from Shopify backend > Configuration > Auction Configuration:
On this page, the Admin can configure whether how winning amount will be calculated if the winner is a proxy bidder.
- It can be the last bidding amount according to the bidding increment rule.
- Or it can be equivalent to the highest proxy amount.
After this, save the configuration.
How to enable proxy bidding features on products?
The Admin can enable the proxy-bidding (automatic bidding) option while creating an auction product.
When the Admin creates an auction product, he can enable/disable the proxy-bidding option on the particular page itself. Refer screenshot:
Allow Customers to Place Normal Bid & Proxy Bid with a Single Button
You can now allow customers to place a normal and a proxy bid using a single button for an auction product.
If the bid amount is greater than Bid Price + 2*(Increment) then it will be considered as a proxy bid.
Let’s take an example:-
If the current bid amount is 100 and the minimum increment allowed is 10, then if the customer places the bid for 120 [Bid Price + 2*Increment] or more then it will be considered as a proxy bid for the auction, but in case the customer bids less than 120 then it will be added as a normal bid.
You just need to enable the option from the “Auction Configuration” menu of the app.
Enabling this option will let you choose whether you want to enable Proxy bidding for all the running & upcoming auctions OR only for newly created auctions products.
The customer will place both normal & proxy bid with the same button.
If the bidding value is greater than and equal to Current Bid + 2*(minimum allowed bid- Current Bid) then, this will be placed as a proxy bid.
The Admin can also configure the mail that will be sent to the proxy bidder if he loses the auction from the Configuration > Mail Configuration section:
Note: Disable the status if you don’t want the proxy bidder to receive an email notification on losing the auction.
On the frontend, the bidder needs to click on the Place Automatic Bid option (refer screenshot below):
This action with giving the bidder a pop-up where he needs to enter the proxy-bidding amount and place it (refer screenshot below):
Demo of this feature
Visit the following link to check the frontend demo:
Product Auction User Manuals
- Main Blog: Product Auction for Shopify
- Product Auction for Shopify- Upgrade
- How to Paste Codes in Liquid File
- Multiple Winner & Braintree Autopay
- Bid On Multiple Units feature
- SMTP configuration
- Edit & Delete Bid
- on for Shopify: CSV Feature
- Add Auction to Product
💡 Need Help?
Drop your query at [email protected] or Webkul UV Desk.
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