Set Online Auction Bid Amount
It is important to set the right bid amount for your items. This determines the amount your item will sell for as well how well it will sell. You will need to set the reserve amount, minimum bid amount and the bid increments.
- Conduct research into the value of your item, allowing for any possible depreciation. This will help you determine the reserve amount and minimum bid.
- The reserve amount should be the lowest price you are happy to sell an item for. We suggest you set this amount slightly above the item’s value price.
- Having a high minimum bid amount can deter users from bidding. Set your minimum bid at a low price to entice more users to bid.
- Make sure you know the type of people attending your auction event. This knowledge will help you recognise which items will sell well and the amount your guests may be happy to bid.
Invite users to your auction
Oktion gives you the option to invite guests to auctions via your contacts list. These contacts must have either an email address or a mobile phone number as Oktion will need to send them an invitation notification. You can add or remove invitees at any time, even after the auction has started. Your invitees can also invite additional guests via their personal contacts list.
Get in touch today
Need extra help setting up your online auction event? Get in touch with the Oktion team for full technical support to make your fundraiser a success.