Notes on Auction Artworks

Notes on Auction Artwork Products on Sale:

What is Reserve Price?

The reserve price is the lowest price at which an auctioneer will sell the product via the auction process. The auctioneer is not obligated to accept a winning bid that is lower than this price. 

What is Buy Now Price?

Buy Now price gives an option to users to purchase the item immediately at a fixed price and bypass the bidding process. 

What is Proxy Bidding?

Proxy bidding refers basically to the automatic type of bidding. In an auction, when you place a bid and another user outbids you, you need to again come back and bid higher in order to remain the highest bidder. To avoid coming back, you can use automatic bidding which bids on behalf of you when someone outbids you. You can initially enter the maximum amount with which you are comfortable with then our plugin will bid on your behalf for you till that maximum amount is reached.