Overview of Spendilly’s Auction Capability

Spendilly empowers vendors with an exciting auction feature, offering a dynamic way to showcase their creations and engage with buyers. This functionality allows vendors to attract more attention, encourage competition, and maximize the value of their unique products.

What the Auction Capability Offers to Vendors

1. Flexible Auction Options
   • Run traditional auctions where buyers place bids until the highest bid wins.
   • Set a “Buy It Now” price to allow buyers to bypass the bidding process and secure the product instantly.
2. Customizable Auction Settings
   • Define starting bid amounts, bid increments, and reserve prices to ensure your product meets its desired value.
   • Set specific start and end times for your auctions to fit your sales strategy.
3. Enhanced Product Visibility
   • Auctions create excitement and draw attention to your products.
   • Countdown timers on auction pages create urgency, encouraging buyers to take action quickly.
4. Seamless Management
   • Track and manage auctions directly from your vendor dashboard.
   • Monitor bids in real-time and stay updated on the progress of your auctions.
5. Automatic Notifications
   • Buyers receive automated notifications when they’ve been outbid or when the auction is nearing its end, keeping them engaged.
6. Maximized Sales Potential
   • Competitive bidding can drive up prices for unique or highly sought-after items.
   • The “Buy It Now” option provides a direct sales channel alongside bidding.

How Auctions Work for Vendors

1. Setting Up an Auction
   • Choose the product you want to auction and switch it to an auction format from your vendor dashboard.
   • Specify important details, including:
     • Starting price
     • Bid increment
     • Reserve price (optional)
     • “Buy It Now” price (optional)
     • Auction start and end times
   • Once set, publish the product to make the auction live.
2. Managing Ongoing Auctions
   • Track active auctions in your dashboard, including bidder activity and current highest bids.
   • Communicate with interested buyers by responding to their questions or providing additional product information.
3. Post-Auction Process
   • When an auction ends, the highest bidder is automatically notified to complete their purchase.
   • After payment is received, proceed with fulfilling the order as usual.

Why Use Spendilly’s Auction Feature?

• Generate Excitement: Auctions encourage competitive bidding and create buzz around your products.
• Connect with Buyers: Allow buyers to engage directly with your products, fostering stronger connections and trust.
• Highlight Unique Creations: Auctions are perfect for rare, limited-edition, or one-of-a-kind items that deserve extra attention.

Ready to Get Started?

Take advantage of Spendilly’s auction capability to showcase your creations in a way that captivates buyers and increases sales. For step-by-step instructions on setting up auctions, refer to our Auction Setup Guide or contact our support team for further assistance.