β±β‘οΈOnline Auctions: Automatic Clock Extensions
In an online (timed) auction, there could be some frantic bidding at the last minute. For this reason we want to ensure that all bidders have had the opportunity to place all the bids that they want to.
Allowing this means that both vendors and bidders will be satisfied that a fair result has been achieved, and the lot value is maximised.
They way that we do this is by automatic clock extensions.
Every lot in a timed auction has an allocated end time. Many lots will end at exactly this time.
However, we can configure some settings in Snoofa to allow the clock times to extend if there are bids in the last few minutes. This process will continue until the bidding activity has concluded (so the end time could extend multiple times).
Settings
Head to System Settings > General > Sale Settings to find these options.
Explanation | Image |
|---|---|
Lot Interval This is the amount of seconds between the end time of each lot (regardless of clock extensions). 120 is two minutes, so for example if lot one was due to end at 16:00, lot two would end at 16:02, lot three at 16:04 etc. Extend Lot Threshold This is the amount seconds from the scheduled lot end time that the lot automatic clock extension is applied. In this example, 300 seconds, if someone placed a bid within the last five minutes of the end time of a lot, the clock would extend by the value in the field below. Extend Lot By This is the amount of seconds that the lot clock will extend by when there is a bid within the Extend Lot Threshold. In this example, 120 seconds, the clock will extend by two minutes every time a bid is placed within the last five minutes. |  |
These settings are in the above format in your instance of Snoofa be default. However, you can change these as desired.
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