Auction Settings

Wavebid allows you to set a wide variety of catalog, clerking, accounting and reporting preferences for all of your auctions. There are two ways to access these settings:

  • Click on the  New Auction button on the top-right corner to create a new auction workspace.
  • In the Dashboard, navigate to the workspace then to Auction > Edit Settings.
  • Within an auction workspace, go to the Current Auction menu on the top of any page, then Auction > Edit Settings.

When creating an auction the following fields must contain information in order for the system to successfully create the auction in database and assign an Auction ID:

  • Name
  • Address 1
  • City
  • State
  • Postal
  • Country (defaults to UNITED STATES)
  • Coordinator
  • Auction Software
  • Auction Preview Page
  • Start Date

When using BidWrangler as the auction software a Description in the Auction Info tab must be entered.

All of the information can be modified at any point during the lifetime of the auction regardless of what stage it is in, even after the auction has been moved into the Auction Vault.

Auction Info

The following fields are required, and are marked with an asterisk:

  • Name: The name of the auction. This information will appear in all invoices.
  • Address: The address the auction will occur.
  • City
  • State
  • Postal Code (zip code)
  • Country: Defaults to UNITED STATES.
  • Coordinator: The user managing the sale in the system.
  • The Auction Photo is not required.
  • The Estimates are not required.
  • Restrict to Coordinator & Admins defaults to Enabled as a security measure. If a user is not one of these two things the auction will not appear in their Dashboard. In order to make it appear there are a few options:
    • Make a user into the coordinator.
    • Grant the user the COMPANY_ADMIN role in the authorities page.
    • Disable this option entirely, making the workspace visible for all users.
  • Lock Auction will prevent any users from making changes to the auction when enabled.
  • Visibility:
    • Private: Only users logged in to Wavebid will be able to see the auction. This is the default.
    • Secret Key Protected: A key is set, then Wavebid creates a link to an auction preview page. A user without a Wavebid account can type in the key and then view the catalog.
    • Public - No Catalog: Wavebid creates a page to an auction preview page. Anyone with the link can view the photos for the lots.
    • Public: Wavebid creates a page to an auction preview page and anyone with the link can view the full catalog.

When visibility is set to anything but Private the person visiting the URL will be able to view the catalog or the pictures but will be unable to make any changes to the catalog. It is a good way to provide a preview of what your catalog looks like to a customer.

Auction Attributes

In this tab you will see two columns. The column on the left has to do with the specific settings for the auction itself:

  • Auction Software: Set the bidding platform of your choice. Depending on the platform Wavebid will change the attributes for the auction. See [this article] for more information on the supported platforms and how we support them.
  • Auction Preview Page: Can be set to Scrolling or to Pages. You can find more information in this article.
  • Start Date: The date and time the auction will start on. This determines when the workspace will move from the Upcoming tab in the Dashboard to the Active tab.
  • End Date: The date and time the auction will end on. This determines when the workspace will move from the Active tab in the Dashboard to the Completed tab.
  • Time Zone: The time zone for the auction.
  • Default Category: The default category for the lots in the auction. This will only apply to lots created using Lot Builder.

The column on the right lets you enable specific settings related to the cataloging of your sale. The default for all of them is to be disabled (unchecked):

  • Assign seller(s) to lots?: Option to have separate sellers in the sale. Make sure to enable it if you have consigners in your sale.
  • Include option to list quantity per lot?: Set more than one item per lot. If it is not enabled Wavebid will assume every lot is only one item.
  • List item locations per lot?: Option to enter different locations for the lots in case it’s a separate location than the main address of the auction site.
  • Show shipping calculator?: This feature has been discontinued.
  • Default starting bid?: Bids for lots will start at this amount.
  • Default Bid Increment?: Bids for lots will increment with this amount.
  • Any reserve prices?: Ability to enter reserve prices for lots.
  • Different tax rates per lot?: Enable the ability to apply a different tax code to a single lot, overriding the tax code being applied to the entire auction. For more information view this article.
  • Show Lot Rank?: Whether to categorize lots by rankings.
  • Show Clerking Attributes?: Set specifics about how an item is to be clerked ahead of time. For further information please view this article.
  • Turn on High Low Estimates?: Set high amount and low amount estimates for lots.
  • Allow Buy It Now price?: Set a sell price for a lot.
  • Show appraisal values: Set amounts for the appraisal value of a lot.
  • Show Company Defined Values: Show the list of fields defined for your company. Find more information here.
  • Show Advanced Cataloging Values: Enable the entry of additional information regarding the lot itself. There is more information here
  • Other Catalog Values: Set additional fields for the lot and keep them separate from other cataloging values. Please view this article for more information.

Out of these attributes the pair that you will use the most often are Assign seller(s) to lots? and Include option to list quantity per lot?

In addition to the settings available here, we do have more options available by enabling Advanced Auction Attributes

Any defaults entered for these settings can be changed within each lot through the Lot Builder. Depending on the Auction Software chosen the list of attributes you can set will change as not all bidding platforms support all features presented in this tab.

Auction Info

  • Tag Line: Simple text acting as a subtitle for the auction.
  • Start Date Alternative: Simple text acting as a substitute for the date set as Start Date.
  • Auctioneer Notes: Simple text notes for the auctioneer.
  • Simple Description (text only): Simple text for the description of the sale.

All of the following fields have full HTML support:

  • Description
  • Marketing Content
  • Directions
  • Location Notes
  • Preview Notes
  • Payment Info
  • Removal Info
  • Checkout Notes
  • Terms & Conditions

Marketing

These settings are useful when using our i3 WordPress plugin:

  • Type of Auction: Set to Live, Simulcast, or Online.
  • Auction URL: The URL for the auction in the bidding platform.
  • Auction Registration URL: The URL to register to bid in the auction in the bidding platform.
  • Sort Date: The position the auction will appear on the website, overriding the position from the Start Date.
  • Preview Dates: Enter a start date and an end date.
  • Prebidding Dates: Enter a start date and an end date.
  • Bidding Dates: Enter a start date and an end date.
  • Checkout Dates: Enter a start date and an end date.

Accounting

Premiums & Invoice Fees

Buyer’s Premium Options

  • Fixed Percent: The amount to charge in a percentage.
  • Sliding Scale: Choose from an existing scale.
  • Cumulative Sliding Scale: Choose from an existing scale.
  • Buyer’s Premium Cap: Limit the amount for charge for Buyer’s Premium.

To create and configure scales go to My Links > Company > Scales - Buyer’s Premium; there is more information available in this article.

Additional Online Premium Options

  • Online Premium: The amount to charge in a percentage.
  • Online Premium Cap: Limit the amount to charge for online bidders.

Credit Card Options

  • Fee Type: Select between three options: Additional BP, Convenience Fee, Cash Discount.
  • Payment Gateway: Select between payment gates enabled in Partner Management.

Taxes

Tax Options

  • Auction Tax Code: Select one of the tax codes created for the company.
  • Auction Tax Exempt: Sets the auction as tax exempt in its entirety.
  • Buyer’s Premium Taxable: Sets a tax for Buyer’s Premium in addition to taxes for the hammer price of an item.

Invoices

Processing

  • Process Seller Settlements:

    In an effort to accelerate the processing of information while cataloging, clerking, invoicing, and reporting, Wavebid by default will not update the accounting information related to your Sellers. You can enable the processing from the start of your auction by placing a checkmark here.

  • Process Buyer’s Premium for Sellers: Just like Seller Settlements, Wavebid will not calculate commissions if this option is disabled.

  • Starting Invoice Number: This options lets you start your invoices with a different number than the default. We have more information available in this article.

Email

The Invoice Email Template dropdown lets you pick which template will be used to generate emails when emailing them to clients.

Invoice Settings

The dropdown will let you select which setting will be used when generating invoices within Wavebid and which others will be available through the Print Invoice button when looking at the invoice itself.

You can have as many custom settings as needed but only the Default will be used when emailing invoices.

Options

Most of the choices here are self-descriptive:

  • Show entire item description on invoices: Display the entire description text of a lot. Default is unchecked.
  • Display the location in the description on invoices: Display the entire location value alongside the description text of a lot. Default is unchecked.
  • Show title information on invoices: If title information was entered for a lot it can be shown. Default is unchecked.
  • Hide unpaid watermark on invoices: Default is unchecked.
  • Show the payment date, time, and clerk name on invoice: Default is unchecked.
  • Show the tax/tax exempt id on invoices: Default is unchecked.
  • Number of copies when printing invoices: Default is 1
  • Include when printing all invoices: When printing invoices from the Invoices tab, show this specific invoice setting. Default is checked.
  • Default Address for invoices and seller settlements: You can enter additional information in this field editor, overriding the address data entered in the Auction Info section of the auction settings. Default is unchecked.
  • Hide inventory numbers on invoice: Default is checked.
  • Show separate buyer’s premium tax: This option enables you to manually override the Buyer’s Premium tax codes within an invoice.
  • Hide the totals section on an invoice: Default is unchecked.

Header

The information entered can be customized through the HTML text editor and will appear in all invoices printed using this template.

  • Default Invoice Header for new auctions
  • Default Invoice Intro for new auctions

Footer

The information entered can be customized through the HTML text editor and will appear in all invoices printed using this template.

  • Default Invoice Footer for new auctions
  • Default Invoice Ending Credit Transactions for new auctions
  • Default Picklist Ending for new auctions
  • Default Invoice Ending Cash Transactions (PAID)
  • Default Invoice Ending Credit Transactions (PAID)

Other

The information entered can be customized through the HTML text editor and will appear in all invoices printed using this template.

  • Printed Invoice Label:
  • Printed Invoice Color:

Online Checkout

You can add different questions when a client pays their invoice online. This requires the use of a payment gateway.

Documents

PDF documents can be added to the sale and made available for people to download

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