{"id":190555,"date":"2019-08-05T08:18:56","date_gmt":"2019-08-05T08:18:56","guid":{"rendered":"https:\/\/webkul.com\/blog\/?p=190555"},"modified":"2024-10-29T11:13:44","modified_gmt":"2024-10-29T11:13:44","slug":"popcorn-bidding","status":"publish","type":"post","link":"https:\/\/webkul.com\/blog\/popcorn-bidding\/","title":{"rendered":"Popcorn Bidding"},"content":{"rendered":"\n

Popcorn Bidding<\/h2>\n\n\n\n

Popcorn Bidding, also known as Dynamic Bidding, is a way of giving the bidders who were outbid an opportunity to rebid.<\/p>\n\n\n\n

Making online auctions more flexible!<\/p>\n\n\n\n

How does it work?<\/h2>\n\n\n\n

If a bid is made during the last set minutes (say 5 minutes) of scheduled auction closing time, the popcorn bidding comes into play!<\/p>\n\n\n\n

The popcorn bidding automatically extends the scheduled closing time (say extends by 5 more minutes just after the last bid made). <\/p>\n\n\n\n

Basically, every bid made in the last minutes resets the clock to let more bidders bid for another set period of time.<\/p>\n\n\n\n

When there are no new bids in those last extended minutes, the auction is closed & no further bidding activity can be conducted anymore. <\/p>\n\n\n\n

As usual, the bidder with the highest bidding wins the auction.<\/p>\n\n\n\n

\"popcorn<\/figure>\n\n\n\n

Pros of Popcorn Bidding<\/h2>\n\n\n\n

You might be running an online auction website<\/a> or an online auction marketplace<\/a>, there are multiple features you can use to rev-up your revenue.<\/a> <\/p>\n\n\n\n

For say, introducing the concept of the online auction joining fee<\/a> or proxy bidding<\/a>. Or maybe conducting an auction for fundraising<\/a>, these are all the ways to give your auction website a hike. <\/p>\n\n\n\n

Similarly, dynamic or popcorn bidding will help from preventing sniping activities and a lot more.<\/p>\n\n\n\n

If you don’t know, in auction snipping, the bidder waits until the last possible minute of an auction to place a bid. So as to prevent other bidders from placing a higher bid.<\/p>\n\n\n\n

Auction snipping can be very annoying for the auctioneers as this reduces the possibility of other bidders from responding with a higher bid. <\/p>\n\n\n\n

Thus ending the auction on less probable bidding amount.<\/p>\n\n\n\n

Introducing dynamic bidding can help to provide the bidders who were outbid an opportunity to rebid. <\/p>\n\n\n\n

This concept gives the online auction scenarios a touch of the traditional live auction concept.<\/p>\n\n\n\n

And if you are running an online auction for fundraising then a dynamic bidding concept will definitely help you in raising more funds.<\/p>\n\n\n\n

Lastly, Popcorn or Dynamic Bidding proffers all your bidders an equal opportunity of winning an auction. This is by extending the completion time of the auction if a last-minute bid is placed. <\/p>\n\n\n\n

Want to build an online auction website?<\/h2>\n\n\n\n

Creating online auction websites is particularly a good strategy to start an eCommerce business. Also, to gain popularity in a brief span of time.<\/p>\n\n\n\n

Starting your own Online Auction websites will help you boost your revenue<\/a>. It lets you put slow\/old products upon auction & your buyers a way to buy cheap.<\/p>\n\n\n\n

 \ud83d\udcc3 Read:<\/strong> How to build an Online Auction Website?<\/a><\/p>\n\n\n\n

\ud83d\udca1 Need Help?<\/h5>\n\n\n\n

Moreover, you can drop your query at shopify@webkul.com or raise a ticket at Webkul UV Desk<\/a>.<\/p>\n\n\n\n

Until next time. \ud83d\udc4b
<\/p>\n","protected":false},"excerpt":{"rendered":"

Popcorn Bidding Popcorn Bidding, also known as Dynamic Bidding, is a way of giving the bidders who were outbid an opportunity to rebid. Making online auctions more flexible! How does it work? If a bid is made during the last set minutes (say 5 minutes) of scheduled auction closing time, the popcorn bidding comes into […]<\/a><\/p>\n","protected":false},"author":241,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[336,15592,4236,841],"tags":[2072,9064,9471,9462,2908,364,9463,9470,9465,9469,9468,9459,9460,9461,9074,9457,9464,9458],"class_list":["post-190555","post","type-post","status-publish","format-standard","hentry","category-auction","category-knowledge-base-webkul-product-auction","category-multivendor-marketplace","category-shopify","tag-auction","tag-auction-industry","tag-auction-for-fundraising","tag-auctioneer","tag-bid","tag-bidding","tag-bidding-for-cars","tag-build-online-auction-website","tag-charity-auction","tag-create-online-auction-website","tag-dynamic-bidding","tag-electronic-bidding","tag-mobile-bidding","tag-mobile-bidding-silent-auction","tag-online-bidding","tag-popcorn","tag-silent-auction-bidding-technology","tag-silent-auction-mobile-bidding"],"yoast_head":"\nPopcorn Bidding - 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