{"id":184811,"date":"2019-07-05T12:01:31","date_gmt":"2019-07-05T12:01:31","guid":{"rendered":"https:\/\/webkul.com\/blog\/?p=184811"},"modified":"2024-10-29T12:40:51","modified_gmt":"2024-10-29T12:40:51","slug":"product-auction-for-shopify-proxy-bidding-feature","status":"publish","type":"post","link":"https:\/\/webkul.com\/blog\/product-auction-for-shopify-proxy-bidding-feature\/","title":{"rendered":"Product Auction for Shopify: Proxy Bidding Feature"},"content":{"rendered":"\n
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What is Proxy Bidding?<\/h3>\n<\/div><\/div>\n\n\n\n

Proxy Bidding is a concept in which the system automatically bids on your behalf up to the maximum bid amount that you have chosen. <\/p>\n\n\n\n

This is simple to make the online auction process much easier and less time-consuming.<\/p>\n\n\n\n

Proxy Bid<\/strong> is the Maximum Bid<\/strong> and not the Current Bid.<\/strong><\/em><\/p>\n\n\n\n

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How Proxy Bidding actually works?<\/h3>\n<\/div><\/div>\n\n\n\n

Let’s understand this with a scenario:<\/p>\n\n\n\n

Suppose an auction starts with $10 as the starting bid. Now, a bidder A<\/strong> 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<\/strong>.<\/p>\n\n\n\n

Now, if a bidder B<\/strong> comes to place a bid, he will see the current bid= $10. Suppose, Bidder B<\/strong> places a bid of $15. Then, he will be immediately outbid by bidder A<\/strong> with a new minimum bid of $16.<\/p>\n\n\n\n

Thus to outbid bidder A<\/strong>, some other bidder has to place a bid of $20.01 or more.
<\/p>\n\n\n\n

Now, if bidder B <\/strong>places a bid of $20 then it will be equivalent to bidder A’s maximum bid. But still, bidder A<\/strong> will be the highest bidder and the new minimum bid will become $21.<\/p>\n\n\n\n

So, this is how the flow of proxy\/automatic bidding goes.<\/p>\n\n\n\n

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Product Auction: Proxy Bidding Feature<\/h3>\n<\/div><\/div>\n\n\n\n

The Admin can enable the functionality of proxy bidding using the Product Auction<\/a> app on his Shopify<\/a> store.<\/p>\n\n\n\n

So to configure this, visit Product Auction app from Shopify backend > Configuration > Auction Configuration:<\/p>\n\n\n\n

\"proxy<\/figure>\n\n\n\n

On this page, the Admin can configure whether how winning amount will be calculated if the winner is a proxy bidder.<\/p>\n\n\n\n