Creating and Managing Auctions Creating and Managing Auctions

Creating and Managing Auctions

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Creating an Auction is a straightforward process that enables sellers to efficiently list their items for sale. By following these steps, you can create an auction that not only meets the platform’s standards but also attracts potential bidders.

Guidelines for Creating High-Quality Auction Listings

To ensure the success of your Auctions, it's important to adhere to specific guidelines that enhance the appeal and clarity of your listings:

  • Price Range: Ideally, list products within the $25-$1,000 range, with starting bids at $1.
  • Clear Presentation: Titles and descriptions should be detailed. Include the product name, year, and grade if applicable. Example: "1986 Fleer RC Clyde Drexler BGS 8.5/10 Auto".
  • Photo Requirements:
    • Photograph items on a flat, white background (like a piece of paper) from above.
    • Center the item well, leaving space around it.
    • Ensure good lighting for detailed inspection.
    • Photograph all relevant sides of the item, including front and back.

While Auctions is in beta mode, you can create an Auction listing either through the Seller Hub web (whatnot.com), or on the Whatnot iOS app. (Auction creation on Android coming soon!)

Seller Hub Steps: 

  1. Navigate to Seller Hub: From whatnot.com click your seller thumbnail in the top right corner and select 'Listings'.
  2. Start New Listing: Click on 'Create Listing' and choose 'Single Listing'.
  3. Input Listing Details: Add a title, description, and photos to your listing, then tap ‘Next’.
  4. Set the Price: Enter the starting bid for your item.
  5. Choose Sales Format: Select 'Auction' under the Sales Format options, and then select ‘Auction’ under the Auction Type options.
  6. Select Auction Duration: Under 'Auction Type', click 'Duration', and then choose your desired auction end time under 'Auction Duration'.
    1. Note: There may be limited duration options available during the beta phase.
  7. Finalize the Listing: Fill out any remaining information needed for your listing.
  8. Review Your Listing: Ensure that all details, especially the auction end time, are correct.
  9. List Your Auction: Click on 'List Now' to publish your auction.

Note - your Auction will start as soon as you publish the listing.

iOS Steps:

  1. From the Whatnot iOS app, tap the “Sell” button on the bottom navigation bar. Select “List an Item.”
  2. On the first page of the product creation flow, add images, title, description, and attributes that describe the product you want to sell.
  3. On the second page of the production flow, select “Auction” as buy format.
    1. Select the auction duration.
    2. Set the starting price.
    3. Select the shipping profile. 
  4. Tap “Start Auction” button at the bottom to publish your listing to buyers and start your auction.

Important Considerations:

  • The quantity for Auctions is restricted to one.
  • Ensure that all the information, especially the auction end time, is accurate before listing.

Editing Existing Auctions

To enhance the effectiveness of your sales, you may edit your Auction listing under specific conditions on iOS or through the Seller Hub. This process enables you to update auction details in real time, ensuring your listings are always accurate and appealing to potential bidders.

Eligibility for Editing:

  • Auctions that are currently active but have not received any bids can be edited or canceled. However, once bidding starts on an auction, it can no longer be edited or canceled.

Editing Steps:

Seller Hub:

  1. Access: Go to your listing and click 'Edit Listing' at the bottom.
  2. Modify Details: Make your desired changes or upload new photos, then click 'Next'.
  3. Adjust Attributes: You can further edit listing attributes, noting that the quantity is limited to one. After adjustments, click 'Next'.
  4. Review and Submit: Review your changes on the 'Review Listing' page, then click 'Submit' to apply them.

Whatnot iOS app:

  1. Navigate to your profile and tap on the intended Auction listing.
  2. Select “Edit Listing” from the listing detail page.
  3. Modify listing details accordingly and hit “Next” in top right corner, and then “Save” on the second page

These changes will be immediately applied to your live auction.

Canceling Auctions

Canceling an auction is primarily used to address situations where an auction has ended but has not led to a completed transaction, -e.g., due to buyer payment failure.

Key Difference Between Deletion: Cancellation renders the auction inactive, preventing any further payment attempts by buyers. However, the listing remains in your inventory for potential subsequent actions, like deletion.

Criteria for Cancellation:

  • Auctions that have ended with no bids.
  • Auctions that have ended with payment failures.
  • Current active Auction with no bids

Cancellation Process:

  1. Access Listing: Go to the listing page on the Seller Hub.
  2. Select Listing: Click on the listing showing a pending payment status, which opens a listing pane on the right.
  3. Confirm Cancellation: Click on “Cancel” and then confirm the action.

Notes:

  • Cancellation moves the listing to an inactive state, and buyers can no longer retry payment.
Next steps from here
  • Canceled Auction can be relisted again with changes
  • Canceled Auction can also be deleted and removed from inventory 

Deleting Auctions: Clearing Your Inventory

Deleting an Auction is a definitive action taken to remove a listing from your inventory. This is typically done for auctions that have been canceled.

Key Difference Between Cancellation: Deletion is a more final step compared to cancellation. It completely removes the auction from your inventory, making it inaccessible and permanently closing off any pending transactions.

Criteria for Deletion:

  • Ended Auctions with zero bids.
  • Canceled Auctions.
  • Auctions with failed payments.

Deletion Process:

  1. Access Listing: In the seller hub listing view, click on your listing to bring up the listing pane on the right.
  2. Navigate to Options: Click on 'Options'.
  3. Confirm Deletion: Select the 'Delete' button and confirm your action in the popup window.

Notes:

A deleted listing is permanently removed from your inventory and becomes inaccessible.

Buyers with pending payments will not be able to complete payment for the item once it is deleted.

Relist Your Auctions

If an Auctions ends without bids or is canceled, Seller Hub provides a structured process to relist these items.

Criteria for Relisting:

An Auction is eligible for relisting under the following conditions:

  1. The auction concluded without receiving any bids.
  2. The auction was canceled by the seller.

Steps to Relist Your Auction:

  1. Initiation: When eligible, a "Relist Auction" button will be available. Click this to begin the relisting process.
  2. Update Auction Details: You will be directed to a page where you can revise the auction's title, description, category, and more.
  3. Finalization: After updating the details, click 'Next' to proceed to the confirmation page.
  4. Adjust Auction End Time: Although the starting bid and quantity remain fixed, you can set a new end time for your auction.
  5. Review and Confirm: Finalize the relisting by clicking “Review Listing” after entering all necessary updates.

Confirmation of Successful Relisting:

Completing these steps ensures that your auction is relisted, making it available once again for bidding.

Payment Pending on Auctions

Just like in regular livestream auctions, Auctions can also experience pending payments. In such cases, the buyer will encounter a pop-up modal allowing them to update their payment details and attempt the payment again. This modal appears under two circumstances:

  • When the buyer revisits the same Auction.
  • When the buyer first opens the WN app and has an outstanding pending payment.

Buyer View: 

For Sellers: Tracking and Managing Pending Payments

As a seller, you'll have visibility into the current buyer with the pending payment, as well as the next highest bidder. This information is useful if you choose to directly contact either party regarding the auction item.

Options Available to Sellers:

  • Contact the Buyer: You can reach out to the buyer with the pending payment to encourage them to complete the transaction.
  • Cancel the Auction: If you decide to cancel a pending payment auction, the buyer will lose the ability to retry payment for the item. Once canceled, you have the option to either delete or relist the auction.

Viewing Auction outcomes on Seller Hub: 

  • This is your screen without any runner ups
  • This is your screen with runner ups

These features ensure a seamless and flexible auction experience for both buyers and sellers on the WN app.

Using the Refine Filter for Auction Items

With the refined filter functionality, you can effortlessly filter your listed items by buying format, specifically for Auction items.

How to Use the Refine Filter:

  1. Access the refine filter and select the buying format option.
  2. Apply the filter to sort through your Auctions based on the chosen format.

Resetting the Filter:

  • If you wish to view all your auctions again without any filters, simply hit the 'Reset' button. This will clear the applied filters and show your full auction list.

This feature makes managing and viewing your Auction items more efficient and user-friendly.

Auctions in Livestreams

If you are live while you have active Auctions, they will automatically display in your live store (you will not need to manually import them). Your buyers can click on the Store and navigate to the Auction tab to view, and bid on them.

Additionally, you are able to pin these Auctions during your live show, so that buyers can bid on the auction during the show! This is a great way to help advertise your Auctions to your live audience. 

Extended Bidding on Auctions

Extended bidding for Auctions works slightly differently than Livestream Auctions. For every bid within the last 2 minutes of the Auction, the timer will reset to 2 minutes. There is no option for “Sudden Death” at the moment.

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